Friday , November 27 2020

Westpac Banking (WBK) Upgraded to Buy at Citigroup



Westpac Banking (NYSE: WBK) was upgraded by Citigroup's investment analyst from a "neutral" rating to a "buy" rating in a report published on November 6, MarketBeat.com reports.

WBK has been the subject of several other reports. Zack's Investment Research brought Westpac Banking from a "sell" rating to a "buy" rating and set a $ 25.00 prize for the company in a report on Sunday, July 15th. Macquarie breaks Westpac Banking from an "outperform" rating to a "neutral" rating in a report Friday, August 17th. Three analysts have rated the share with a sales rating, three have awarded a holding rating and two have allocated a consideration to the company's share. The stock currently has a "Hold" consensus rating and an average price target of $ 25.00.

Stocks of WBK stocks opened at $ 18.42 on Tuesday. Westpac Banking has a twelve-month low of $ 18.22 and a twelve-month high of $ 25.59. The company has a market value of $ 64.46 billion, a price-to-earnings ratio of 10.59, a P / E / G ratio of 5.64 and a beta of 1.20. The company has a current ratio of 1.26, a fast ratio of 1.26 and a debt ratio of 2.67.

Several major investors have recently made changes in their positions in the company. Signaturefd LLC increased its position in Westpac Banking by 28.2% in the second quarter. Signaturefd LLC now owns 12,394 shares of the bank's stock valued at USD 269,000 after acquisition of another 2,728 shares during the period. Suntrust Banks Inc. grew its position in Westpac Banking by 27.0% in the first quarter. Suntrust Banks Inc. now owns 13,842 shares in the bank's equity valued at $ 306,000 after acquisition of another 2,945 shares during the period. Gilman Hill Asset Management LLC increased its position in Westpac Banking by 5.0% in the third quarter. Gilman Hill Asset Management LLC now owns 64,465 shares in the bank's equity valued at $ 1,290,000 after acquisition of additional 3,555 shares during the period. Advisor Partners LLC increased its position in Westpac Banking by 19.2% in the third quarter. Advisor Partners LLC now owns 20,779 shares in the bank's stock value at 416,000 dollars after acquisition of 3,334 additional shares during the period. Finally, Assetmark Inc. grew its position in Westpac Banking by 6.5% in the third quarter. Assetmark Inc. now owns 54,991 shares of the Bank's share valued at USD 1,100,000 after acquisition of another 3,368 shares during the period. 0.56% of the shares are owned by institutional investors and hedge funds.

About Westpac Banking

Westpac Banking Corporation provides various banking and financial services in Australia, New Zealand, Asia, Pacific and internationally. It operates through five divisions: Consumer Bank, Business Bank, BT Financial Group, Westpac Institutional Bank and Westpac New Zealand. It offers everyday banks, savings, time-limited deposits, moving to Australia, under 21 years and students, business, social solutions, one, profitable savings and currency accounts. time-limited, tailor made and farm-based deposits; debit, credit and travel credit cards; home, personal, investment, small business and commercial loans; and equipment, vehicle, cash flow, real estate and insurance premium financing services.

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