OLD Mission Capital LLC bought a new position in Westpac (NYSE:WBK) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 26,420 shares of the bank’s stock, valued at approximately $644,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of WBK. Ameriprise Financial Inc. grew its position in Westpac by 13.1% in the third quarter. Ameriprise Financial Inc. now owns 101,814 shares of the bank’s stock valued at $2,566,000 after acquiring an additional 11,825 shares during the period. Parametric Portfolio Associates LLC boosted its stake in Westpac by 15.4% in the third quarter. Parametric Portfolio Associates LLC now owns 1,999,094 shares of the bank’s stock worth $50,417,000 after purchasing an additional 266,397 shares in the last quarter. M&T Bank Corp boosted its stake in Westpac by 25.5% in the fourth quarter. M&T Bank Corp now owns 67,846 shares of the bank’s stock worth $1,655,000 after purchasing an additional 13,796 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Westpac by 8.4% in the third quarter. Wells Fargo & Company MN now owns 76,620 shares of the bank’s stock worth $1,933,000 after purchasing an additional 5,947 shares in the last quarter. Finally, Martin Capital Partners LLC acquired a new position in Westpac in the fourth quarter worth $2,682,000. Hedge funds and other institutional investors own 0.60% of the company’s stock.
WBK has been the topic of several research reports. Morgan Stanley lowered Westpac from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 16th. Macquarie raised Westpac from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 17th. Zacks Investment Research lowered Westpac from a “hold” rating to a “sell” rating in a research note on Wednesday, March 21st. JPMorgan Chase upgraded Westpac from a “neutral” rating to an “overweight” rating in a report on Tuesday, January 30th. Finally, Bank of America downgraded Westpac from a “buy” rating to an “underperform” rating in a report on Wednesday, March 7th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $28.00.
NYSE WBK traded down $0.19 during trading hours on Friday, hitting $22.18. 208,510 shares of the company traded hands, compared to its average volume of 363,532. Westpac has a twelve month low of $21.73 and a twelve month high of $26.72. The stock has a market capitalization of $74,853.76, a PE ratio of 12.67, a price-to-earnings-growth ratio of 3.63 and a beta of 1.28. The company has a debt-to-equity ratio of 2.74, a quick ratio of 1.26 and a current ratio of 1.26.
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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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