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Westpac Banking Corp. (NYSE: WBK) has an average of "hold" among the eight brokerages that currently cover equities, reports Marketbeat. Four investment analysts attributed a sales recommendation to the action, three made a retention recommendation and one issued a purchase recommendation regarding the company.
Several research companies have recently published reports on the WBK. Zacks Investment Research has upgraded Westpac Banking stocks from a "sell" rating to a "held" note in a report released on Saturday, June 23. Macquarie has reduced Westpac Banking shares from "outperforming" to "neutral" in a report released on Friday, August 17.
Westpac Banking shares traded $ 0.02 during negotiations on Thursday, reaching $ 19.33. The stock traded a trading volume of 273,000 shares, compared with an average of 291,311 shares. The company has a market capitalization of $ 66.96 billion, a PE ratio of 11.04 and a beta of 1.30. Westpac Banking has a minimum of 12 months of $ 19.24 and a 12-month low of $ 26.38.
Several institutional investors have recently increased or decreased their stake in WBK. Glenmede Trust Co. NA increased its stake in Westpac Banking by 1,960.1% in the second quarter. Glenmede Trust Co. NA now holds 320,887 shares valued at $ 6,957,000 after purchasing an additional 305,311 shares during the period. Northern Trust Corp. increased its stake in Westpac Banking by 6.8% in the second quarter. Northern Trust Corp now holds 3,137,776 shares valued at $ 68,027,000 after purchasing 201,083 additional shares during the period. Wells Fargo & Company MN increased its stake in Westpac Banking by 191.9% in the first quarter. Wells Fargo & Company MN now holds 219,961 shares valued at $ 4,879,000 after purchasing 144,618 additional shares during the period. Summit Trail Advisors LLC increased its stake in Westpac Banking by 1,994.8% in the first quarter. Summit Trail Advisors LLC now holds 130,901 shares valued at $ 131,000 after purchasing 124,652 additional shares during the period. Lastly, OLD Mission Capital LLC acquired a new position in the Westpac banking sector in the second quarter, valued at approximately $ 2,562,000. Hedge funds and other institutional investors own 0.57% of the company's shares.
Westpac Banking Company Profile
Westpac Banking Corporation provides various banking and financial services in Australia, New Zealand, Asia, the Pacific region and internationally. It operates through five divisions: Consumer Bank, Business Bank, BT Financial Group, Westpac Institutional Bank and Westpac New Zealand. It offers day-to-day banking, savings accounts, term deposits, transfers for under-21s in Australia, as well as student, business, community solutions, and non-profit savings accounts. profit and in foreign currency; term deposits, tailor-made and farm management; debit, credit and travel money cards; loans to individuals, individuals, investments, small businesses and businesses; and automotive equipment financing, cash flow, real estate and insurance premium services.
See also: NASDAQ
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