Oxbow Advisors LLC decreased its stake in Westpac Banking Corporation (NYSE:WBK) by 1.5% during the second quarter, according to its most recent filing with the SEC. The fund owned 256,924 shares of the bank’s stock after selling 3,810 shares during the period. Westpac Banking Corporation comprises 1.1% of Oxbow Advisors LLC’s portfolio, making the stock its 23rd largest position. Oxbow Advisors LLC’s holdings in Westpac Banking Corporation were worth $6,012,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of WBK. 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 period. 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 period. 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 period. 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 period. 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 period. 0.58% of the stock is currently owned by hedge funds and other institutional investors.
Westpac Banking Corporation (NYSE WBK) traded up 0.82% on Tuesday, hitting $25.89. 54,224 shares of the stock traded hands. Westpac Banking Corporation has a 52 week low of $21.23 and a 52 week high of $27.05. The stock has a 50 day moving average of $23.56 and a 200 day moving average of $24.81. The firm has a market capitalization of $86.67 billion, a PE ratio of 14.89 and a beta of 1.27.
The company also recently declared a semiannual dividend, which was paid on Friday, July 14th. Investors of record on Thursday, May 18th were given a dividend of $0.689 per share. This represents a dividend yield of 5.72%. The ex-dividend date was Tuesday, May 16th.
Several brokerages have commented on WBK. Citigroup Inc. raised shares of Westpac Banking Corporation from a “sell” rating to a “neutral” rating in a research report on Wednesday, July 19th. UBS AG cut shares of Westpac Banking Corporation from a “buy” rating to a “neutral” rating in a research report on Monday, May 8th. Zacks Investment Research raised shares of Westpac Banking Corporation from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Saturday. ValuEngine raised shares of Westpac Banking Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Finally, BidaskClub raised shares of Westpac Banking Corporation from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Westpac Banking Corporation presently has an average rating of “Buy” and an average price target of $29.00.
About Westpac Banking Corporation
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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