According to Zacks, “Westpac Banking Corp. provides a broad range of banking and financial services. The company offers general banking services to retail, commercial, and institutional customers and provides investment management and insurance. For institutional and international clients, Westpac provides working capital loans, trade financing, foreign currency loans, leveraged leasing, project finance loans, and interest rate and currency products. “
WBK has been the subject of several other research reports. ValuEngine downgraded shares of Westpac Banking from a hold rating to a sell rating in a research note on Monday, August 12th. Morgan Stanley raised shares of Westpac Banking from an underweight rating to an equal weight rating in a research note on Thursday, August 1st. Finally, CLSA downgraded shares of Westpac Banking from an underperform rating to a sell rating in a research note on Monday, May 6th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of Hold.
Hedge funds have recently modified their holdings of the company. Avestar Capital LLC increased its position in shares of Westpac Banking by 848.5% during the first quarter. Avestar Capital LLC now owns 1,859 shares of the bank’s stock worth $33,000 after acquiring an additional 1,663 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of Westpac Banking during the second quarter worth $34,000. Osborn Williams & Donohoe LLC bought a new stake in shares of Westpac Banking during the first quarter worth $37,000. Zions Bancorporation N.A. bought a new stake in shares of Westpac Banking during the first quarter worth $37,000. Finally, Advisor Group Inc. increased its position in shares of Westpac Banking by 285.6% during the fourth quarter. Advisor Group Inc. now owns 2,491 shares of the bank’s stock worth $45,000 after acquiring an additional 1,845 shares in the last quarter. 0.55% of the stock is owned by institutional investors.
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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