Westpac Banking (NYSE:WBK) Hits New 1-Year Low at $16.31

Westpac Banking Corp (NYSE:WBK)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $16.31 and last traded at $16.31, with a volume of 2445 shares. The stock had previously closed at $16.49.

A number of equities analysts have weighed in on the company. Jefferies Financial Group initiated coverage on Westpac Banking in a report on Tuesday, November 5th. They issued an “underperform” rating for the company. ValuEngine raised shares of Westpac Banking from a “sell” rating to a “hold” rating in a research report on Tuesday, November 5th. Zacks Investment Research restated a “sell” rating on shares of Westpac Banking in a research note on Saturday, October 26th. Finally, Credit Suisse Group raised shares of Westpac Banking from a “neutral” rating to an “outperform” rating in a report on Monday, September 2nd. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $21.00.

The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The company has a 50 day moving average of $18.48 and a 200 day moving average of $19.22. The firm has a market cap of $56.37 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 2.75 and a beta of 0.89.

The firm also recently declared a Semi-Annual dividend, which will be paid on Monday, December 30th. Investors of record on Tuesday, November 12th will be issued a $0.547 dividend. The ex-dividend date of this dividend is Friday, November 8th. Westpac Banking’s dividend payout ratio is currently 81.95%.

Hedge funds have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC acquired a new position in shares of Westpac Banking in the 2nd quarter valued at approximately $34,000. Baldwin Brothers Inc. MA purchased a new position in shares of Westpac Banking during the 3rd quarter valued at approximately $49,000. Whittier Trust Co. boosted its stake in shares of Westpac Banking by 358.1% during the 3rd quarter. Whittier Trust Co. now owns 4,466 shares of the bank’s stock valued at $89,000 after buying an additional 3,491 shares during the last quarter. Cornerstone Advisors Inc. grew its position in shares of Westpac Banking by 46.8% during the third quarter. Cornerstone Advisors Inc. now owns 4,965 shares of the bank’s stock worth $99,000 after buying an additional 1,583 shares in the last quarter. Finally, Parallel Advisors LLC grew its position in shares of Westpac Banking by 9.6% during the second quarter. Parallel Advisors LLC now owns 6,588 shares of the bank’s stock worth $131,000 after buying an additional 577 shares in the last quarter. Institutional investors own 0.60% of the company’s stock.

About Westpac Banking (NYSE:WBK)

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.

Further Reading: What is the CAC 40 Index?

Receive News & Ratings for Westpac Banking Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Westpac Banking and related companies with MarketBeat.com's FREE daily email newsletter.