Westpac Banking Co. (NYSE:WBK) – Investment analysts at Jefferies Financial Group cut their FY2023 earnings per share (EPS) estimates for shares of Westpac Banking in a report issued on Friday, December 10th. Jefferies Financial Group analyst B. Johnson now expects that the bank will post earnings of $1.38 per share for the year, down from their prior estimate of $1.53.
A number of other analysts also recently issued reports on the stock. Credit Suisse Group downgraded shares of Westpac Banking from an “outperform” rating to a “neutral” rating in a report on Monday, November 1st. Zacks Investment Research cut shares of Westpac Banking from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 16th. Finally, The Goldman Sachs Group cut shares of Westpac Banking from a “buy” rating to a “neutral” rating in a research report on Monday, November 1st. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $23.00.
NYSE WBK opened at $14.95 on Monday. Westpac Banking has a 52-week low of $14.09 and a 52-week high of $20.82. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.19. The company has a fifty day moving average of $17.16 and a 200-day moving average of $18.43.
The business also recently declared a semi-annual dividend, which will be paid on Friday, December 31st. Investors of record on Tuesday, November 9th will be given a dividend of $0.4509 per share. The ex-dividend date is Monday, November 8th. This represents a dividend yield of 5.2%. This is a boost from Westpac Banking’s previous semi-annual dividend of $0.45.
Several hedge funds and other institutional investors have recently made changes to their positions in WBK. OLD Mission Capital LLC increased its position in shares of Westpac Banking by 158.2% during the third quarter. OLD Mission Capital LLC now owns 176,595 shares of the bank’s stock valued at $2,126,000 after buying an additional 108,200 shares during the period. Ameriprise Financial Inc. boosted its stake in Westpac Banking by 4.0% during the first quarter. Ameriprise Financial Inc. now owns 68,711 shares of the bank’s stock worth $1,276,000 after acquiring an additional 2,632 shares in the last quarter. Morgan Stanley boosted its stake in Westpac Banking by 21.4% during the first quarter. Morgan Stanley now owns 116,892 shares of the bank’s stock worth $2,170,000 after acquiring an additional 20,633 shares in the last quarter. Atlas Capital Advisors LLC boosted its stake in Westpac Banking by 2.5% during the second quarter. Atlas Capital Advisors LLC now owns 29,735 shares of the bank’s stock worth $574,000 after acquiring an additional 727 shares in the last quarter. Finally, New York State Common Retirement Fund bought a new stake in Westpac Banking during the second quarter worth about $155,000. Institutional investors own 0.52% of the company’s stock.
Westpac Banking Company Profile
Westpac Banking Corp. engages in the provision of banking and financial services. It operates through the following segments: Consumer Bank, Business Bank, BT Financial Group (Australia), Westpac Institutional Bank, Westpac New Zealand and Group Businesses. The Consumer Bank segment covers consumer banking products and services under the Westpac, St.
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