Wednesday , August 17 2022

Westpac Banking (WBK) has been upgraded to be owned by Zacks Investment Research


Zacks Investment Research has modernized its actions Westpac Banking (NYSE: WBK) from a sale rating to a participation rating in a research report published on Wednesday morning.

According to Zacks, "Westpac Banking Corp. offers a wide range of banking and financial services." The company provides retail banking, commercial and institutional banking, and provides investment management and insurance. work, commercial financing, foreign currency loans, loan leasing, project finance loans and interest-rate and currency products. "

Several other analysts have also weighed the company. Macquarie lowered Westpac Banking from a top rating to a neutral rating in a Friday, August 17 report. Citigroup has upgraded Westpac Banking from a neutral rating to a buy-in report on Tuesday, 6 November. Three investment analysts rated the shares with a sales rating, three rated one, and two granted a share buy-in. Westpac Banking has a Hold consensus rating and an average price of $ 25.00.

WBK shares were opened on Wednesday at $ 18.62. The company has a market cap of $ 61.98 billion, a PE ratio of 10.70, a PEG ratio of 5.42 and a beta of 1.20. Westpac Banking has a 1-year maturity of USD 18.22 and a 1-year maturity of USD 25.59. The company has a debt-to-equity ratio of 2.67, a fast 1.26 ratio and a current ratio of 1.26.

The business also recently announced a special dividend, which will be paid on Monday, December 31st. Registration investors on Tuesday, November 13 will be issued a dividend of $ 0.6766 per share. The ex-dividend date is Friday, November 9. This represents a yield of 7.09%. Westpac Banking's payment rate is currently 77.01%.

Large investors have recently added or reduced stakes to shares. Whittier Trust Co. from Nevada Inc. increased its position in Westpac Banking by 526.0% in the second quarter. Whittier Trust Co., of Nevada Inc., now owns 4,075 shares of the Bank's $ 131,000 shares after buying another 3,424 shares in that period. Atlas Capital Advisors LLC acquired a new stake in Westpac Banking during the second quarter, worth $ 183,000. BTC Capital Management Inc. acquired a new stake in Westpac Banking during the second quarter, worth $ 203,000. Ridgewood Investments LLC acquired a new stake in Westpac Banking during the second quarter, worth $ 224,000. Finally, Rhumbline Advisers acquired a new stake in Westpac Banking during the third quarter, worth $ 225,000. Institutional investors hold 0.54% of the company's shares.

About Westpac Banking

Westpac Banking Corporation offers 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. Provides daily banking services, savings, time deposits, moving to Australia, under 21, and for students, businesses, community solutions, nonprofits and foreign currency accounts; long-term, personalized and farm management deposits; debit, credit and travel cards; home, staff, investment, small business and commercial loans; and equipment, cars, treasury flows, property and insurance premiums.

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