Shares of Westpac Banking Corp (NYSE:WBK) have been given a consensus rating of “Hold” by the nine ratings firms that are covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company.

A number of equities analysts have issued reports on the stock. Zacks Investment Research cut shares of Westpac Banking from a “hold” rating to a “sell” rating in a research note on Saturday, March 9th. Morgan Stanley cut shares of Westpac Banking from an “equal weight” rating to an “underweight” rating in a research note on Thursday, January 31st. ValuEngine cut shares of Westpac Banking from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. CLSA cut shares of Westpac Banking from an “underperform” rating to a “sell” rating in a research note on Monday, May 6th. Finally, JPMorgan Chase & Co. cut shares of Westpac Banking from an “overweight” rating to a “neutral” rating in a research note on Wednesday, February 6th.

WBK opened at $19.18 on Friday. Westpac Banking has a one year low of $16.41 and a one year high of $22.65. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 3.21. The company has a market cap of $64.81 billion, a PE ratio of 11.02, a P/E/G ratio of 8.50 and a beta of 1.07.

The firm also recently disclosed a semiannual dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, May 16th will be paid a $0.6581 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a yield of 7%. Westpac Banking’s payout ratio is presently 76.44%.

Hedge funds have recently made changes to their positions in the business. Lindbrook Capital LLC bought a new position in Westpac Banking in the fourth quarter valued at approximately $25,000. Avestar Capital LLC boosted its position in shares of Westpac Banking by 848.5% during the first quarter. Avestar Capital LLC now owns 1,859 shares of the bank’s stock worth $33,000 after purchasing an additional 1,663 shares in the last quarter. Osborn Williams & Donohoe LLC bought a new position in shares of Westpac Banking during the first quarter worth $37,000. Zions Bancorporation N.A. bought a new position in shares of Westpac Banking during the first quarter worth $37,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Westpac Banking during the fourth quarter worth $38,000. 0.55% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Westpac Banking (NYSE:WBK)

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