Westpac Banking Corp (WBK) Shares Gap Up to $22.18
Westpac Banking Corp (NYSE:WBK) gapped up prior to trading on Tuesday . The stock had previously closed at $22.15, but opened at $22.18. Westpac Banking Corp shares last traded at $22.38, with a volume of 65,752 shares trading hands.
Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. downgraded Westpac Banking Corp from an “overweight” rating to a “neutral” rating in a research report on Thursday, August 11th. Zacks Investment Research raised Westpac Banking Corp from a “sell” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Wednesday, July 27th. Credit Agricole SA downgraded Westpac Banking Corp from an “underperform” rating to a “sell” rating in a research report on Thursday, July 7th. Finally, Macquarie upgraded shares of Westpac Banking Corp from a “neutral” rating to an “outperform” rating in a research note on Tuesday, May 24th.
The company has a market capitalization of $74.48 billion, a price-to-earnings ratio of 12.30 and a beta of 1.45. The firm’s 50 day moving average is $22.74 and its 200-day moving average is $22.74.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/westpac-banking-corp-wbk-shares-gap-up-to-22-18.html
Several hedge funds and other institutional investors have recently added to or reduced their stakes in WBK. Northwestern Mutual Wealth Management Co. raised its position in Westpac Banking Corp by 13.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,638 shares of the company’s stock worth $102,000 after buying an additional 536 shares during the period. Kistler Tiffany Companies LLC raised its position in Westpac Banking Corp by 5.2% in the second quarter. Kistler Tiffany Companies LLC now owns 4,645 shares of the company’s stock worth $103,000 after buying an additional 229 shares during the period. Huntington National Bank acquired a new position in Westpac Banking Corp during the second quarter worth $157,000. Sei Investments Co. raised its position in Westpac Banking Corp by 107.4% in the second quarter. Sei Investments Co. now owns 8,199 shares of the company’s stock worth $181,000 after buying an additional 4,246 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new position in Westpac Banking Corp during the second quarter worth $211,000.
Westpac Banking Corp Company Profile
Westpac Banking Corporation is a banking organization. The Company provides banking and financial services in markets, including consumer, business and institutional banking and wealth management services. It has three segments: Australian Financial Services (AFS), Westpac Institutional Bank (WIB) and Westpac New Zealand.
Receive News & Ratings for Westpac Banking Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Westpac Banking Corp and related companies with MarketBeat.com's FREE daily email newsletter.