Westpac Banking Corporation (WBK) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of Westpac Banking Corporation (NYSE:WBK) have received a consensus rating of “Hold” from the nine research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and three have given a buy recommendation to the company.
Several equities research analysts have recently weighed in on WBK shares. Zacks Investment Research upgraded shares of Westpac Banking from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research report on Saturday, September 30th. ValuEngine cut shares of Westpac Banking from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Credit Suisse Group cut shares of Westpac Banking from an “outperform” rating to a “neutral” rating in a research report on Monday, November 6th.
Westpac Banking (NYSE:WBK) traded down $0.08 on Thursday, hitting $23.92. 204,900 shares of the stock traded hands, compared to its average volume of 186,608. Westpac Banking has a 52 week low of $22.17 and a 52 week high of $27.05. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 2.74.
A number of large investors have recently bought and sold shares of WBK. Dimensional Fund Advisors LP grew its holdings in Westpac Banking by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 478,261 shares of the bank’s stock worth $12,779,000 after purchasing an additional 2,934 shares during the period. Credit Suisse AG acquired a new stake in Westpac Banking in the first quarter worth $1,132,000. Huntington National Bank grew its holdings in Westpac Banking by 5.1% in the second quarter. Huntington National Bank now owns 4,784 shares of the bank’s stock worth $112,000 after purchasing an additional 230 shares during the period. NGAM Advisors L.P. grew its holdings in Westpac Banking by 5.0% in the second quarter. NGAM Advisors L.P. now owns 55,056 shares of the bank’s stock worth $1,288,000 after purchasing an additional 2,641 shares during the period. Finally, CAPROCK Group Inc. acquired a new stake in Westpac Banking in the second quarter worth $267,000. Institutional investors and hedge funds own 0.62% of the company’s stock.
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About Westpac Banking
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.
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