Parametric Portfolio Associates LLC boosted its stake in shares of Westpac Banking Corp (NYSE:WBK) by 15.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,999,094 shares of the bank’s stock after buying an additional 266,397 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.06% of Westpac Banking worth $50,417,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of WBK. Armor Investment Advisors LLC purchased a new stake in shares of Westpac Banking during the third quarter worth $202,000. Rodgers Brothers Inc. acquired a new stake in shares of Westpac Banking during the third quarter worth about $210,000. American Trust Investment Advisors LLC acquired a new stake in shares of Westpac Banking during the third quarter worth about $214,000. Strategic Global Advisors LLC lifted its position in shares of Westpac Banking by 0.6% during the second quarter. Strategic Global Advisors LLC now owns 8,708 shares of the bank’s stock worth $204,000 after purchasing an additional 50 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in Westpac Banking by 62.7% in the second quarter. SG Americas Securities LLC now owns 9,856 shares of the bank’s stock valued at $231,000 after acquiring an additional 3,800 shares in the last quarter. Institutional investors and hedge funds own 0.61% of the company’s stock.
WBK has been the topic of a number of analyst reports. ValuEngine downgraded Westpac Banking from a “buy” rating to a “hold” rating in a report on Thursday, November 30th. Zacks Investment Research cut Westpac Banking from a “buy” rating to a “hold” rating in a report on Thursday, September 28th. Finally, Credit Suisse Group cut Westpac Banking from an “outperform” rating to a “neutral” rating in a report on Monday, November 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $28.00.
Shares of Westpac Banking Corp (WBK) traded up $0.12 during trading on Thursday, reaching $24.88. The company had a trading volume of 296,914 shares, compared to its average volume of 201,077. Westpac Banking Corp has a 1 year low of $22.17 and a 1 year high of $27.05. The company has a debt-to-equity ratio of 2.74, a quick ratio of 1.26 and a current ratio of 1.26. The stock has a market cap of $83,950.00, a P/E ratio of 13.82, a P/E/G ratio of 3.46 and a beta of 1.34.
The firm also recently announced a None dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Monday, November 13th were issued a $0.717 dividend. The ex-dividend date was Friday, November 10th. This represents a yield of 5.82%. This is a positive change from Westpac Banking’s previous None dividend of $0.71. Westpac Banking’s dividend payout ratio (DPR) is 79.44%.
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About Westpac Banking
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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