World Asset Management Inc trimmed its holdings in shares of Westpac Banking Corp (NYSE:WBK) by 15.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 85,142 shares of the bank’s stock after selling 15,173 shares during the quarter. World Asset Management Inc’s holdings in Westpac Banking were worth $1,704,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also bought and sold shares of the company. Summit Trail Advisors LLC grew its position in Westpac Banking by 1,994.8% during the first quarter. Summit Trail Advisors LLC now owns 130,901 shares of the bank’s stock worth $131,000 after buying an additional 124,652 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in Westpac Banking by 526.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 4,075 shares of the bank’s stock worth $131,000 after buying an additional 3,424 shares in the last quarter. Atlas Capital Advisors LLC purchased a new position in Westpac Banking during the second quarter worth about $183,000. BTC Capital Management Inc. purchased a new position in Westpac Banking during the second quarter worth about $203,000. Finally, United Capital Financial Advisers LLC purchased a new position in Westpac Banking during the first quarter worth about $221,000. Institutional investors and hedge funds own 0.57% of the company’s stock.
WBK opened at $18.70 on Friday. Westpac Banking Corp has a 12-month low of $18.33 and a 12-month high of $26.38. The stock has a market capitalization of $66.96 billion, a PE ratio of 10.69 and a beta of 1.30.
Several equities analysts recently commented on WBK shares. Zacks Investment Research upgraded Westpac Banking from a “sell” rating to a “hold” rating in a research report on Saturday, June 23rd. Macquarie cut Westpac Banking from an “outperform” rating to a “neutral” rating in a report on Friday, August 17th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $25.00.
About Westpac Banking
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 everyday banking, savings, term deposit, moving to Australia, under 21 and student, business, community solutions one, not-for-profit savings, and foreign currency accounts; term, tailor-made, and farm management deposits; debit, credit, and travel money cards; home, personal, investment, small business, and commercial loans; and equipment, automotive, cash flow, property, and insurance premium financing services.
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