ValuEngine downgraded shares of Westpac Banking (NYSE:WBK) from a hold rating to a sell rating in a research note released on Monday morning, ValuEngine reports.

A number of other equities analysts also recently weighed in on WBK. CLSA downgraded Westpac Banking from an underperform rating to a sell rating in a research report on Monday, May 6th. Zacks Investment Research downgraded Westpac Banking from a hold rating to a sell rating in a research report on Thursday, August 8th. Finally, Morgan Stanley raised Westpac Banking from an underweight rating to an equal weight rating in a research report on Thursday, August 1st. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of Hold.

Shares of NYSE WBK opened at $18.76 on Monday. The business’s 50 day moving average price is $19.58 and its two-hundred day moving average price is $19.13. The company has a market cap of $64.27 billion, a PE ratio of 10.78, a price-to-earnings-growth ratio of 8.92 and a beta of 0.98. Westpac Banking has a twelve month low of $16.41 and a twelve month high of $22.16.

Several large investors have recently modified their holdings of the company. Parallel Advisors LLC boosted its holdings in shares of Westpac Banking by 9.6% during the second quarter. Parallel Advisors LLC now owns 6,588 shares of the bank’s stock worth $131,000 after acquiring an additional 577 shares during the period. Cornerstone Advisors Inc. boosted its holdings in shares of Westpac Banking by 28.8% during the second quarter. Cornerstone Advisors Inc. now owns 3,382 shares of the bank’s stock worth $67,000 after acquiring an additional 756 shares during the period. Checchi Capital Advisers LLC boosted its holdings in shares of Westpac Banking by 4.2% during the first quarter. Checchi Capital Advisers LLC now owns 20,918 shares of the bank’s stock worth $387,000 after acquiring an additional 839 shares during the period. Griffin Asset Management Inc. boosted its holdings in shares of Westpac Banking by 2.9% during the first quarter. Griffin Asset Management Inc. now owns 33,086 shares of the bank’s stock worth $612,000 after acquiring an additional 925 shares during the period. Finally, Wright Investors Service Inc. boosted its holdings in shares of Westpac Banking by 4.1% during the first quarter. Wright Investors Service Inc. now owns 24,532 shares of the bank’s stock worth $454,000 after acquiring an additional 969 shares during the period. Institutional investors own 0.55% of the company’s stock.

About Westpac Banking

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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