Westpac Banking Corporation (NYSE:WBK) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

WBK has been the topic of several other reports. Zacks Investment Research downgraded shares of Westpac Banking Corporation from a “buy” rating to a “sell” rating in a report on Wednesday, May 10th. Credit Suisse Group upgraded shares of Westpac Banking Corporation from a “neutral” rating to an “outperform” rating in a report on Thursday, June 22nd. Macquarie downgraded shares of Westpac Banking Corporation from an “outperform” rating to a “neutral” rating in a report on Tuesday, May 9th. Goldman Sachs Group, Inc. (The) upgraded shares of Westpac Banking Corporation from a “neutral” rating to a “buy” rating in a report on Wednesday. Finally, ValuEngine upgraded shares of Westpac Banking Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $29.00.

Westpac Banking Corporation (NYSE WBK) traded up 1.59% on Thursday, reaching $24.29. 234,842 shares of the company’s stock traded hands. Westpac Banking Corporation has a 52-week low of $21.23 and a 52-week high of $27.05. The stock’s 50 day moving average is $23.07 and its 200 day moving average is $24.73. The firm has a market cap of $81.32 billion, a price-to-earnings ratio of 14.22 and a beta of 1.28.

The firm also recently disclosed a semiannual dividend, which will be paid on Friday, July 14th. Stockholders of record on Thursday, May 18th will be issued a $0.689 dividend. The ex-dividend date is Tuesday, May 16th. This represents a dividend yield of 5.72%.

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Several hedge funds have recently bought and sold shares of the stock. Tompkins Financial Corp acquired a new stake in Westpac Banking Corporation during the first quarter worth about $149,000. SG Americas Securities LLC purchased a new position in shares of Westpac Banking Corporation during the first quarter worth $162,000. Zevin Asset Management LLC purchased a new position in shares of Westpac Banking Corporation during the first quarter worth $200,000. Armor Investment Advisors LLC purchased a new position in shares of Westpac Banking Corporation during the first quarter worth $214,000. Finally, American Investment Services Inc. purchased a new position in shares of Westpac Banking Corporation during the first quarter worth $219,000. Institutional investors own 0.58% of the company’s stock.

Westpac Banking Corporation Company Profile

Westpac Banking Corporation is a banking organization. The Company provides a range of banking and financial services in markets, including consumer, business and institutional banking and wealth management services. The Company is engaged in the provision of financial services, including lending, deposit taking, payments services, investment portfolio management and advice, superannuation and funds management, insurance services, leasing finance, general finance, interest rate risk management and foreign exchange services.

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