Comerica Bank reduced its stake in shares of Westpac Banking Corporation (NYSE:WBK) by 5.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 182,501 shares of the bank’s stock after selling 10,580 shares during the period. Comerica Bank’s holdings in Westpac Banking Corporation were worth $4,687,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the stock. Ameriprise Financial Inc. increased its position in shares of Westpac Banking Corporation by 28.5% in the first quarter. Ameriprise Financial Inc. now owns 91,255 shares of the bank’s stock valued at $2,438,000 after buying an additional 20,260 shares during the last quarter. Zevin Asset Management LLC purchased a new position in shares of Westpac Banking Corporation during the first quarter valued at about $200,000. TD Asset Management Inc. increased its position in shares of Westpac Banking Corporation by 11.4% in the first quarter. TD Asset Management Inc. now owns 33,758 shares of the bank’s stock valued at $1,005,000 after buying an additional 3,457 shares during the last quarter. Karp Capital Management Corp purchased a new position in shares of Westpac Banking Corporation during the first quarter valued at about $27,731,000. Finally, World Asset Management Inc increased its position in shares of Westpac Banking Corporation by 1.5% in the first quarter. World Asset Management Inc now owns 208,368 shares of the bank’s stock valued at $5,568,000 after buying an additional 3,068 shares during the last quarter. 0.55% of the stock is currently owned by institutional investors.
Westpac Banking Corporation (NYSE WBK) opened at 25.63 on Friday. The firm’s 50-day moving average is $25.23 and its 200-day moving average is $24.98. The stock has a market cap of $85.80 billion, a P/E ratio of 14.61 and a beta of 1.29. Westpac Banking Corporation has a 1-year low of $21.23 and a 1-year high of $27.05.
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WBK has been the topic of several recent analyst reports. BidaskClub raised shares of Westpac Banking Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. Goldman Sachs Group, Inc. (The) raised shares of Westpac Banking Corporation from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 12th. ValuEngine raised shares of Westpac Banking Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Zacks Investment Research raised shares of Westpac Banking Corporation from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research note on Saturday, July 22nd. Finally, Citigroup Inc. raised shares of Westpac Banking Corporation from a “sell” rating to a “neutral” rating in a research note on Wednesday, July 19th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $30.00.
Westpac Banking Corporation Company Profile
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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