Wright Investors Service Inc. Has $515,000 Stake in Westpac Banking Corp (NYSE:WBK)

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Wright Investors Service Inc. increased its holdings in Westpac Banking Corp (NYSE:WBK) by 5.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,857 shares of the bank’s stock after buying an additional 1,325 shares during the period. Wright Investors Service Inc.’s holdings in Westpac Banking were worth $515,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. TD Asset Management Inc. raised its position in shares of Westpac Banking by 8.0% in the second quarter. TD Asset Management Inc. now owns 13,495 shares of the bank’s stock valued at $269,000 after buying an additional 1,002 shares in the last quarter. Signaturefd LLC raised its position in Westpac Banking by 25.2% during the second quarter. Signaturefd LLC now owns 12,998 shares of the bank’s stock valued at $259,000 after purchasing an additional 2,617 shares in the last quarter. Aperio Group LLC raised its position in Westpac Banking by 17.6% during the second quarter. Aperio Group LLC now owns 1,669,315 shares of the bank’s stock valued at $33,269,000 after purchasing an additional 249,663 shares in the last quarter. Fisher Asset Management LLC raised its position in Westpac Banking by 11.1% during the second quarter. Fisher Asset Management LLC now owns 21,627 shares of the bank’s stock valued at $431,000 after purchasing an additional 2,162 shares in the last quarter. Finally, Advisor Partners LLC raised its position in Westpac Banking by 9.5% during the second quarter. Advisor Partners LLC now owns 25,277 shares of the bank’s stock valued at $504,000 after purchasing an additional 2,202 shares in the last quarter. Institutional investors own 0.55% of the company’s stock.

Several research analysts have commented on the stock. Morgan Stanley upgraded shares of Westpac Banking from an “underweight” rating to an “equal weight” rating in a research report on Thursday, August 1st. ValuEngine downgraded shares of Westpac Banking from a “hold” rating to a “sell” rating in a research report on Monday. Zacks Investment Research downgraded shares of Westpac Banking from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Finally, CLSA downgraded shares of Westpac Banking from an “underperform” rating to a “sell” rating in a research report on Monday, May 6th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold”.

WBK traded down $0.14 during trading on Thursday, hitting $18.69. 2,605 shares of the stock traded hands, compared to its average volume of 170,149. Westpac Banking Corp has a twelve month low of $16.41 and a twelve month high of $22.16. The firm has a market cap of $64.27 billion, a P/E ratio of 10.74, a price-to-earnings-growth ratio of 8.92 and a beta of 0.98. The business’s 50 day moving average is $19.60.

Westpac Banking Company Profile

Westpac Banking Corporation provides various banking and financial services in Australia, New Zealand, Asia, the Pacific region, and internationally. It operates through five divisions: Consumer Bank, Business Bank, BT Financial Group, Westpac Institutional Bank, and Westpac New Zealand. It offers everyday banking, savings, term deposit, moving to Australia, under 21 and student, business one, community solutions one, not-for-profit savings, and foreign currency accounts; term and farm management deposits; debit, credit, and travel money cards; home, personal, investment, small business, and commercial loans; and equipment, automotive, cash flow, property, insurance premium, corporate and structured finance, and trade and supply chain financing services.

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Institutional Ownership by Quarter for Westpac Banking (NYSE:WBK)

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