Bollard Group LLC boosted its position in shares of Westpac Banking Corp (NYSE:WBK) by 15.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,425 shares of the bank’s stock after purchasing an additional 17,480 shares during the period. Bollard Group LLC’s holdings in Westpac Banking were worth $2,670,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. grew its holdings in Westpac Banking by 526.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 4,075 shares of the bank’s stock worth $131,000 after acquiring an additional 3,424 shares in the last quarter. Atlas Capital Advisors LLC acquired a new position in Westpac Banking during the 2nd quarter worth $183,000. BTC Capital Management Inc. acquired a new position in Westpac Banking during the 2nd quarter worth $203,000. Ridgewood Investments LLC acquired a new position in Westpac Banking during the 2nd quarter worth $224,000. Finally, Rhumbline Advisers acquired a new position in Westpac Banking during the 3rd quarter worth $225,000. 0.56% of the stock is owned by institutional investors and hedge funds.

Shares of WBK stock opened at $18.55 on Friday. The firm has a market cap of $64.46 billion, a price-to-earnings ratio of 10.66, a P/E/G ratio of 5.64 and a beta of 1.20. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 2.67. Westpac Banking Corp has a 1-year low of $18.22 and a 1-year high of $25.59.

The business also recently disclosed a special dividend, which will be paid on Monday, December 31st. Shareholders of record on Tuesday, November 13th will be issued a dividend of $0.6766 per share. This represents a yield of 7.09%. The ex-dividend date of this dividend is Friday, November 9th. Westpac Banking’s dividend payout ratio is currently 77.01%.

Several brokerages have weighed in on WBK. Zacks Investment Research raised shares of Westpac Banking from a “sell” rating to a “hold” rating in a report on Friday, November 9th. Citigroup raised shares of Westpac Banking from a “neutral” rating to a “buy” rating in a report on Tuesday, November 6th. Finally, Macquarie lowered shares of Westpac Banking from an “outperform” rating to a “neutral” rating in a report on Friday, August 17th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $25.00.

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Westpac Banking Profile

Westpac Banking Corporation provides various banking and financial services in Australia, New Zealand, Asia, the Pacific region, and internationally. It operates through five divisions: Consumer Bank, Business Bank, BT Financial Group, Westpac Institutional Bank, and Westpac New Zealand. It offers everyday banking, savings, term deposit, moving to Australia, under 21 and student, business, community solutions one, not-for-profit savings, and foreign currency accounts; term, tailor-made, and farm management deposits; debit, credit, and travel money cards; home, personal, investment, small business, and commercial loans; and equipment, automotive, cash flow, property, and insurance premium financing services.

Further Reading: Dollar Cost Averaging

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

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