Westpac Banking Corp (NYSE:WBK) – Analysts at Jefferies Financial Group issued their FY2020 EPS estimates for Westpac Banking in a report issued on Tuesday, November 5th. Jefferies Financial Group analyst B. Jordan forecasts that the bank will post earnings per share of $1.47 for the year. Jefferies Financial Group currently has a “Underperform” rating on the stock. Jefferies Financial Group also issued estimates for Westpac Banking’s FY2021 earnings at $1.44 EPS and FY2022 earnings at $1.41 EPS.
Several other research analysts have also issued reports on WBK. Credit Suisse Group upgraded Westpac Banking from a “neutral” rating to an “outperform” rating in a research note on Monday, September 2nd. ValuEngine upgraded Westpac Banking from a “sell” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research reiterated a “sell” rating on shares of Westpac Banking in a research note on Saturday, October 26th. Finally, Morgan Stanley upgraded Westpac Banking from an “underweight” rating to an “equal weight” rating in a research note on Thursday, August 1st. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $21.00.
Westpac Banking stock traded down $0.63 during mid-day trading on Friday, hitting $18.20. 521,792 shares of the company were exchanged, compared to its average volume of 244,733. The business has a fifty day moving average of $19.64 and a 200 day moving average of $19.44. Westpac Banking has a 1-year low of $16.41 and a 1-year high of $20.56. The company has a market capitalization of $64.19 billion, a PE ratio of 10.46, a price-to-earnings-growth ratio of 2.84 and a beta of 0.92.
Several hedge funds have recently made changes to their positions in WBK. Parametric Portfolio Associates LLC grew its holdings in shares of Westpac Banking by 19.9% during the second quarter. Parametric Portfolio Associates LLC now owns 2,789,330 shares of the bank’s stock worth $55,591,000 after purchasing an additional 463,909 shares during the last quarter. Aperio Group LLC grew its holdings in shares of Westpac Banking by 17.6% during the second quarter. Aperio Group LLC now owns 1,669,315 shares of the bank’s stock worth $33,269,000 after purchasing an additional 249,663 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Westpac Banking by 12.3% during the second quarter. Renaissance Technologies LLC now owns 1,820,600 shares of the bank’s stock worth $36,285,000 after purchasing an additional 199,800 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Westpac Banking by 4.7% during the second quarter. Northern Trust Corp now owns 3,243,092 shares of the bank’s stock worth $64,635,000 after purchasing an additional 144,504 shares during the last quarter. Finally, Allianz Asset Management GmbH bought a new stake in shares of Westpac Banking during the second quarter worth $2,421,000. Institutional investors own 0.57% of the company’s stock.
Westpac Banking Company Profile
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 one, community solutions one, not-for-profit savings, and foreign currency accounts; term and farm management deposits; debit, credit, and travel money cards; home, personal, investment, small business, and commercial loans; and equipment, automotive, cash flow, property, insurance premium, corporate and structured finance, and trade and supply chain financing services.
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