Westpac Banking (OTCMKTS:WEBNF) Trading 0.9% Higher – Here’s Why

Shares of Westpac Banking Co. (OTCMKTS:WEBNF) shot up 0.9% during trading on Tuesday . The stock traded as high as C$26.00 and last traded at C$25.57. 731 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 2,367 shares. The stock had previously closed at C$25.33.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Westpac Banking in a research note on Wednesday, October 8th. They issued a “neutral” rating and a $37.63 target price on the stock. Citigroup upgraded Westpac Banking to a “neutral” rating in a research note on Wednesday, September 10th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold”.

Westpac Banking Stock Performance

The company’s fifty day moving average price is C$24.85 and its two-hundred day moving average price is C$23.50.

About Westpac Banking

Westpac Banking (OTCMKTS:WEBNF) represents Westpac Banking Corporation, one of Australia’s oldest and largest financial institutions. Founded in 1817 as the Bank of New South Wales and rebranded as Westpac in 1982 following a merger with the Commercial Bank of Australia, the company has played a central role in the development of Australia’s banking sector. Headquartered in Sydney, Westpac is recognized as one of the “Big Four” banks in Australia and has maintained a prominent market position for over two centuries.

Westpac offers a comprehensive range of banking and financial services across personal, business, and institutional segments.