Financial Counselors Inc. boosted its stake in shares of Westpac Banking Corporation (NYSE:WBK) by 56.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,671 shares of the bank’s stock after buying an additional 7,476 shares during the period. Financial Counselors Inc.’s holdings in Westpac Banking Corporation were worth $552,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in the stock. American Trust Investment Advisors LLC purchased a new stake in shares of Westpac Banking Corporation during the first quarter worth about $226,000. Verity Asset Management Inc. bought a new stake in Westpac Banking Corporation during the first quarter worth $1,779,000. PNC Financial Services Group Inc. raised its stake in Westpac Banking Corporation by 42.7% in the first quarter. PNC Financial Services Group Inc. now owns 15,519 shares of the bank’s stock worth $416,000 after buying an additional 4,644 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Westpac Banking Corporation during the first quarter worth approximately $162,000. Finally, Stifel Financial Corp increased its position in shares of Westpac Banking Corporation by 0.8% in the first quarter. Stifel Financial Corp now owns 28,953 shares of the bank’s stock worth $776,000 after buying an additional 238 shares during the last quarter. 0.58% of the stock is currently owned by hedge funds and other institutional investors.
Westpac Banking Corporation (WBK) traded down 2.7078% during mid-day trading on Tuesday, hitting $22.8442. 108,395 shares of the stock traded hands. The firm has a market cap of $76.48 billion, a PE ratio of 13.6221 and a beta of 1.32. Westpac Banking Corporation has a 12-month low of $20.32 and a 12-month high of $27.05. The stock has a 50 day moving average price of $23.61 and a 200 day moving average price of $24.79.
The business also recently announced a semiannual dividend, which will be paid on Friday, July 14th. Investors of record on Thursday, May 18th will be paid a dividend of $0.689 per share. This represents a yield of 5.72%. The ex-dividend date is Tuesday, May 16th.
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A number of equities analysts recently commented on WBK shares. Zacks Investment Research upgraded shares of Westpac Banking Corporation from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research note on Tuesday, March 7th. ValuEngine downgraded shares of Westpac Banking Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th. Macquarie downgraded shares of Westpac Banking Corporation from an “outperform” rating to a “neutral” rating in a research note on Tuesday, May 9th. Finally, BidaskClub raised shares of Westpac Banking Corporation from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Westpac Banking Corporation has a consensus rating of “Hold” and an average target price of $29.00.
About Westpac Banking Corporation
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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