TD Asset Management Inc. raised its stake in shares of Westpac Banking Corp (NYSE:WBK) by 50.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,342 shares of the bank’s stock after buying an additional 18,168 shares during the period. TD Asset Management Inc.’s holdings in Westpac Banking were worth $1,618,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of WBK. Proficio Capital Partners LLC grew its position in shares of Westpac Banking by 22.3% in the second quarter. Proficio Capital Partners LLC now owns 5,262 shares of the bank’s stock valued at $134,000 after purchasing an additional 958 shares during the last quarter. Armor Investment Advisors LLC acquired a new stake in shares of Westpac Banking in the third quarter valued at about $202,000. Strategic Global Advisors LLC grew its position in shares of Westpac Banking by 0.6% in the second quarter. Strategic Global Advisors LLC now owns 8,708 shares of the bank’s stock valued at $204,000 after purchasing an additional 50 shares during the last quarter. Rodgers Brothers Inc. acquired a new stake in shares of Westpac Banking in the third quarter valued at about $210,000. Finally, IMS Capital Management grew its position in shares of Westpac Banking by 1.7% in the second quarter. IMS Capital Management now owns 9,054 shares of the bank’s stock valued at $212,000 after purchasing an additional 150 shares during the last quarter. Institutional investors own 0.62% of the company’s stock.
Several equities research analysts have recently issued reports on the company. Zacks Investment Research downgraded Westpac Banking from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. ValuEngine downgraded Westpac Banking from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. Finally, Credit Suisse Group downgraded Westpac Banking from an “outperform” rating to a “neutral” rating in a research report on Monday, November 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. Westpac Banking presently has a consensus rating of “Hold” and an average target price of $28.00.
The company also recently announced a None dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, November 13th will be given a dividend of $0.717 per share. The ex-dividend date of this dividend is Friday, November 10th. This is an increase from Westpac Banking’s previous None dividend of $0.71. This represents a yield of 5.82%.
About Westpac Banking
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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