Westpac Banking Corp (WBK) Given Average Recommendation of “Buy” by Analysts

Shares of Westpac Banking Corp (NYSE:WBK) have been assigned an average rating of “Buy” from the ten brokerages that are currently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $28.00.

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. upgraded Westpac Banking from a “neutral” rating to an “overweight” rating in a research report on Tuesday, January 30th. Zacks Investment Research raised Westpac Banking from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research note on Sunday, January 21st. ValuEngine cut Westpac Banking from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. Macquarie raised Westpac Banking from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 17th. Finally, Credit Suisse Group cut Westpac Banking from an “outperform” rating to a “neutral” rating in a research note on Monday, November 6th.

Institutional investors have recently bought and sold shares of the business. Armor Investment Advisors LLC purchased a new stake in Westpac Banking during the third quarter worth $202,000. St. James Investment Company LLC acquired a new stake in Westpac Banking during the 4th quarter worth about $202,000. Rodgers Brothers Inc. acquired a new stake in Westpac Banking during the 3rd quarter worth about $210,000. Advisor Partners LLC acquired a new stake in Westpac Banking during the 4th quarter worth about $209,000. Finally, American Trust Investment Advisors LLC acquired a new stake in shares of Westpac Banking during the 3rd quarter valued at about $214,000. Institutional investors own 0.59% of the company’s stock.

Westpac Banking (WBK) remained flat at $$23.79 during trading hours on Tuesday. The stock had a trading volume of 67,931 shares, compared to its average volume of 264,180. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.26 and a quick ratio of 1.26. Westpac Banking has a 1 year low of $22.17 and a 1 year high of $27.05.

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Westpac Banking 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.

Analyst Recommendations for Westpac Banking (NYSE:WBK)

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