Westpac Banking Corp. (NYSE:WBK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

According to Zacks, “Westpac Banking Corp. provides a broad range of banking and financial services. The company offers general banking services to retail, commercial, and institutional customers and provides investment management and insurance. For institutional and international clients, Westpac provides working capital loans, trade financing, foreign currency loans, leveraged leasing, project finance loans, and interest rate and currency products. “

Separately, JPMorgan Chase & Co. lowered shares of Westpac Banking Corp. from an “overweight” rating to a “neutral” rating in a report on Thursday, August 11th.

Shares of Westpac Banking Corp. (NYSE:WBK) opened at 23.38 on Thursday. Westpac Banking Corp. has a one year low of $19.83 and a one year high of $25.32. The stock has a market capitalization of $78.02 billion, a price-to-earnings ratio of 14.33 and a beta of 1.35. The stock’s 50 day moving average is $23.25 and its 200-day moving average is $22.63.

The firm also recently announced a dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Monday, November 14th will be issued a dividend of $0.712 per share. The ex-dividend date is Tuesday, November 15th.

A number of large investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its stake in shares of Westpac Banking Corp. by 13.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,638 shares of the company’s stock worth $102,000 after buying an additional 536 shares during the last quarter. Kistler Tiffany Companies LLC raised its stake in shares of Westpac Banking Corp. by 5.2% in the second quarter. Kistler Tiffany Companies LLC now owns 4,645 shares of the company’s stock worth $103,000 after buying an additional 229 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Westpac Banking Corp. by 23.2% in the third quarter. Quadrant Capital Group LLC now owns 5,581 shares of the company’s stock worth $116,000 after buying an additional 1,051 shares during the last quarter. Creative Planning raised its stake in shares of Westpac Banking Corp. by 5.2% in the third quarter. Creative Planning now owns 5,915 shares of the company’s stock worth $135,000 after buying an additional 294 shares during the last quarter. Finally, MSI Financial Services Inc raised its stake in shares of Westpac Banking Corp. by 2,366.0% in the third quarter. MSI Financial Services Inc now owns 6,313 shares of the company’s stock worth $144,000 after buying an additional 6,057 shares during the last quarter. Institutional investors own 0.48% of the company’s stock.

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Westpac Banking Corp. Company Profile

Westpac Banking Corporation is a banking organization. The Company provides banking and financial services in markets, including consumer, business and institutional banking and wealth management services. It has three segments: Australian Financial Services (AFS), Westpac Institutional Bank (WIB) and Westpac New Zealand.

5 Day Chart for NYSE:WBK

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