Westpac Banking Corp (NYSE:WBK) has received a consensus recommendation of “Hold” from the nine research firms that are currently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company.
Several research firms have recently commented on WBK. Macquarie upgraded Westpac Banking from a “neutral” rating to an “outperform” rating in a research report on Wednesday. Zacks Investment Research restated a “hold” rating on shares of Westpac Banking in a research report on Saturday, January 13th. ValuEngine lowered Westpac Banking from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. Finally, Credit Suisse Group lowered Westpac Banking from an “outperform” rating to a “neutral” rating in a research report on Monday, November 6th.
Several hedge funds and other institutional investors have recently made changes to their positions in WBK. Royal Bank of Canada grew its holdings in shares of Westpac Banking by 402.4% during the second quarter. Royal Bank of Canada now owns 820,458 shares of the bank’s stock worth $19,198,000 after purchasing an additional 657,161 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new position in Westpac Banking during the third quarter valued at approximately $8,283,000. Parametric Portfolio Associates LLC grew its holdings in Westpac Banking by 15.4% during the third quarter. Parametric Portfolio Associates LLC now owns 1,999,094 shares of the bank’s stock valued at $50,417,000 after purchasing an additional 266,397 shares during the period. Envestnet Asset Management Inc. grew its holdings in Westpac Banking by 57.2% during the third quarter. Envestnet Asset Management Inc. now owns 347,512 shares of the bank’s stock valued at $8,765,000 after purchasing an additional 126,489 shares during the period. Finally, Aperio Group LLC grew its holdings in Westpac Banking by 9.0% during the third quarter. Aperio Group LLC now owns 1,265,183 shares of the bank’s stock valued at $31,908,000 after purchasing an additional 104,248 shares during the period. Institutional investors and hedge funds own 0.61% of the company’s stock.
The business also recently disclosed a None dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, November 13th were paid a $0.717 dividend. This is a boost from Westpac Banking’s previous None dividend of $0.71. This represents a dividend yield of 5.82%. The ex-dividend date of this dividend was Friday, November 10th. Westpac Banking’s dividend payout ratio (DPR) is presently 78.14%.
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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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