Shares of Westpac Banking Corp (NYSE:WBK) have earned an average recommendation of “Hold” from the ten brokerages that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company.

WBK has been the topic of a number of recent analyst reports. Citigroup upgraded Westpac Banking from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 6th. Zacks Investment Research upgraded Westpac Banking from a “sell” rating to a “hold” rating in a research report on Friday, November 9th. Deutsche Bank downgraded Westpac Banking from a “buy” rating to a “sell” rating in a research report on Monday, November 26th. ValuEngine upgraded Westpac Banking from a “sell” rating to a “hold” rating in a research report on Friday, January 4th. Finally, Goldman Sachs Group downgraded Westpac Banking from a “buy” rating to a “neutral” rating in a research report on Thursday.

WBK stock traded down $0.01 during mid-day trading on Friday, reaching $18.48. 6,264 shares of the company’s stock were exchanged, compared to its average volume of 365,067. The company has a market capitalization of $61.03 billion, a P/E ratio of 10.61, a P/E/G ratio of 5.31 and a beta of 1.19. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 2.67. Westpac Banking has a 12-month low of $16.41 and a 12-month high of $25.59.

The company also recently announced a special dividend, which was paid on Monday, December 31st. Stockholders of record on Tuesday, November 13th were given a $0.6766 dividend. The ex-dividend date of this dividend was Friday, November 9th. This represents a dividend yield of 7.09%. Westpac Banking’s dividend payout ratio (DPR) is presently 76.44%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WBK. Lenox Wealth Advisors LLC purchased a new position in shares of Westpac Banking in the fourth quarter valued at approximately $39,000. IMS Capital Management purchased a new position in shares of Westpac Banking in the third quarter valued at approximately $155,000. BTC Capital Management Inc. purchased a new position in shares of Westpac Banking in the second quarter valued at approximately $203,000. Rhumbline Advisers purchased a new position in shares of Westpac Banking in the third quarter valued at approximately $225,000. Finally, Virtu Financial LLC purchased a new position in shares of Westpac Banking in the third quarter valued at approximately $226,000. Institutional investors and hedge funds own 0.54% of the company’s stock.

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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Analyst Recommendations for Westpac Banking (NYSE:WBK)

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