Westpac Banking (WBK) Rating Increased to Outperform at Macquarie

Westpac Banking (NYSE:WBK) was upgraded by research analysts at Macquarie from a “neutral” rating to an “outperform” rating in a report issued on Wednesday, The Fly reports.

WBK has been the topic of several other reports. Zacks Investment Research lowered shares of Westpac Banking from a “buy” rating to a “hold” rating in a report on Tuesday, October 24th. Credit Suisse Group lowered shares of Westpac Banking from an “outperform” rating to a “neutral” rating in a report on Monday, November 6th. Finally, ValuEngine lowered shares of Westpac Banking from a “buy” rating to a “hold” rating in a report on Thursday, November 30th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $28.00.

Shares of Westpac Banking (NYSE WBK) opened at $24.33 on Wednesday. Westpac Banking has a one year low of $22.17 and a one year 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. Armor Investment Advisors LLC acquired a new position in shares of Westpac Banking in the 3rd quarter worth approximately $202,000. Rodgers Brothers Inc. acquired a new position in shares of Westpac Banking in the 3rd quarter worth approximately $210,000. American Trust Investment Advisors LLC acquired a new position in shares of Westpac Banking in the 3rd quarter worth approximately $214,000. Capital Fund Management S.A. acquired a new position in shares of Westpac Banking in the 2nd quarter worth approximately $235,000. Finally, Raymond James Trust N.A. lifted its holdings in shares of Westpac Banking by 16.6% in the 2nd quarter. Raymond James Trust N.A. now owns 11,594 shares of the bank’s stock worth $271,000 after acquiring an additional 1,654 shares during the last quarter. Institutional investors own 0.61% of the company’s stock.

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Westpac Banking Company Profile

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.