Wealth Advisors of Tampa Bay LLC trimmed its stake in Westpac Banking Corp (NYSE:WBK) by 1.4% during the second quarter, Holdings Channel.com reports. The fund owned 181,155 shares of the bank’s stock after selling 2,625 shares during the period. Westpac Banking accounts for about 2.6% of Wealth Advisors of Tampa Bay LLC’s investment portfolio, making the stock its 9th biggest position. Wealth Advisors of Tampa Bay LLC’s holdings in Westpac Banking were worth $3,610,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. Gilman Hill Asset Management LLC grew its stake in shares of Westpac Banking by 4.4% during the 2nd quarter. Gilman Hill Asset Management LLC now owns 64,655 shares of the bank’s stock worth $1,289,000 after purchasing an additional 2,725 shares during the period. Cornerstone Advisors Inc. grew its stake in shares of Westpac Banking by 28.8% during the 2nd quarter. Cornerstone Advisors Inc. now owns 3,382 shares of the bank’s stock worth $67,000 after purchasing an additional 756 shares during the period. Gradient Investments LLC grew its stake in shares of Westpac Banking by 36.9% during the 2nd quarter. Gradient Investments LLC now owns 81,108 shares of the bank’s stock worth $1,616,000 after purchasing an additional 21,858 shares during the period. North Star Investment Management Corp. grew its stake in shares of Westpac Banking by 4.3% during the 2nd quarter. North Star Investment Management Corp. now owns 66,000 shares of the bank’s stock worth $1,315,000 after purchasing an additional 2,700 shares during the period. Finally, Rockefeller Capital Management L.P. acquired a new position in shares of Westpac Banking during the 1st quarter worth $96,000. 0.54% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently weighed in on the stock. Zacks Investment Research cut shares of GasLog Partners LP Unit from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 2nd. CLSA cut shares of Westpac Banking from an “underperform” rating to a “sell” rating in a research note on Monday, May 6th. Finally, ValuEngine raised shares of Westpac Banking from a “sell” rating to a “hold” rating in a research note on Wednesday, May 22nd. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold”.
NYSE WBK traded down $0.13 during trading hours on Friday, reaching $19.79. The company’s stock had a trading volume of 114,105 shares, compared to its average volume of 260,096. The company has a market cap of $68.22 billion, a PE ratio of 11.37, a PEG ratio of 9.29 and a beta of 0.97. Westpac Banking Corp has a fifty-two week low of $16.41 and a fifty-two week high of $22.16. The business’s 50-day moving average price is $19.64.
The firm also recently disclosed a semiannual dividend, which was paid on Friday, July 5th. Investors of record on Thursday, May 16th were paid a $0.6581 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a yield of 7%. Westpac Banking’s payout ratio is 74.14%.
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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