Westpac Banking Corporation (NYSE:WBK) has been given a consensus recommendation of “Buy” by the nine ratings firms that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $28.00.

A number of research analysts have issued reports on WBK shares. Credit Suisse Group upgraded shares of Westpac Banking Corporation from a “neutral” rating to an “outperform” rating in a research report on Thursday, June 22nd. ValuEngine upgraded shares of Westpac Banking Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Goldman Sachs Group, Inc. (The) upgraded shares of Westpac Banking Corporation from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 12th. Zacks Investment Research upgraded shares of Westpac Banking Corporation from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 13th. Finally, BidaskClub upgraded shares of Westpac Banking Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th.

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A number of large investors have recently modified their holdings of the stock. Quadrant Capital Group LLC lifted its stake in Westpac Banking Corporation by 2.6% in the 2nd quarter. Quadrant Capital Group LLC now owns 12,743 shares of the bank’s stock valued at $268,000 after purchasing an additional 320 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Westpac Banking Corporation in the 2nd quarter valued at approximately $299,000. Logan Capital Management Inc. lifted its stake in Westpac Banking Corporation by 24.7% in the 2nd quarter. Logan Capital Management Inc. now owns 32,229 shares of the bank’s stock valued at $754,000 after purchasing an additional 6,388 shares during the last quarter. Royal Bank of Canada lifted its stake in Westpac Banking Corporation by 402.4% in the 2nd quarter. Royal Bank of Canada now owns 820,458 shares of the bank’s stock valued at $19,198,000 after purchasing an additional 657,161 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Westpac Banking Corporation by 3.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 883,672 shares of the bank’s stock valued at $20,678,000 after purchasing an additional 31,542 shares during the last quarter. 0.57% of the stock is owned by institutional investors and hedge funds.

Shares of Westpac Banking Corporation (NYSE:WBK) traded up 0.20% on Wednesday, reaching $25.36. 88,364 shares of the company’s stock were exchanged. The company has a market cap of $86.08 billion, a price-to-earnings ratio of 14.18 and a beta of 1.29. Westpac Banking Corporation has a 12 month low of $22.17 and a 12 month high of $27.05. The firm’s 50-day moving average price is $25.24 and its 200 day moving average price is $24.79.

About Westpac Banking Corporation

Westpac Banking Corporation is a banking organization. The Company provides a range of banking and financial services in markets, including consumer, business and institutional banking and wealth management services. The Company is engaged in the provision of financial services, including lending, deposit taking, payments services, investment portfolio management and advice, superannuation and funds management, insurance services, leasing finance, general finance, interest rate risk management and foreign exchange services.

Analyst Recommendations for Westpac Banking Corporation (NYSE:WBK)

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