Checchi Capital Advisers LLC cut its stake in Westpac Banking Corporation (NYSE:WBK) by 17.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,248 shares of the bank’s stock after selling 4,354 shares during the period. Checchi Capital Advisers LLC’s holdings in Westpac Banking Corporation were worth $497,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Fisher Asset Management LLC boosted its stake in shares of Westpac Banking Corporation by 0.4% in the first quarter. Fisher Asset Management LLC now owns 11,509 shares of the bank’s stock valued at $308,000 after buying an additional 44 shares during the last quarter. Cypress Wealth Advisors LLC boosted its stake in shares of Westpac Banking Corporation by 0.3% in the first quarter. Cypress Wealth Advisors LLC now owns 17,206 shares of the bank’s stock valued at $460,000 after buying an additional 57 shares during the last quarter. Huntington National Bank boosted its stake in shares of Westpac Banking Corporation by 5.1% in the second quarter. Huntington National Bank now owns 4,784 shares of the bank’s stock valued at $112,000 after buying an additional 230 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of Westpac Banking Corporation by 0.8% in the first quarter. Stifel Financial Corp now owns 28,953 shares of the bank’s stock valued at $776,000 after buying an additional 238 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of Westpac Banking Corporation by 1.4% in the first quarter. Bank of Montreal Can now owns 30,994 shares of the bank’s stock valued at $828,000 after buying an additional 431 shares during the last quarter. Institutional investors and hedge funds own 0.55% of the company’s stock.

Shares of Westpac Banking Corporation (NYSE WBK) opened at 25.34 on Tuesday. The stock has a 50 day moving average of $24.66 and a 200-day moving average of $24.90. The company has a market capitalization of $84.83 billion, a P/E ratio of 14.33 and a beta of 1.29. Westpac Banking Corporation has a 12-month low of $21.23 and a 12-month high of $27.05.

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Several brokerages have commented on WBK. Citigroup Inc. upgraded shares of Westpac Banking Corporation from a “sell” rating to a “neutral” rating in a research note on Wednesday, July 19th. UBS AG downgraded shares of Westpac Banking Corporation from a “buy” rating to a “neutral” rating in a report on Monday, May 8th. ValuEngine downgraded shares of Westpac Banking Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. Zacks Investment Research upgraded shares of Westpac Banking Corporation from a “strong sell” rating to a “hold” rating in a report on Thursday, July 13th. Finally, BidaskClub upgraded shares of Westpac Banking Corporation from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Westpac Banking Corporation has an average rating of “Buy” and an average target price of $29.00.

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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Institutional Ownership by Quarter for Westpac Banking Corporation (NYSE:WBK)

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