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

Wright Investors Service Inc. raised its position in Westpac Banking Corp (NYSE:WBK) by 5.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,857 shares of the bank’s stock after purchasing an additional 1,325 shares during the quarter. Wright Investors Service Inc.’s holdings in Westpac Banking were worth $515,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Avestar Capital LLC raised its stake in shares of Westpac Banking by 848.5% in the 1st quarter. Avestar Capital LLC now owns 1,859 shares of the bank’s stock valued at $33,000 after purchasing an additional 1,663 shares during the period. Steward Partners Investment Advisory LLC bought a new position in shares of Westpac Banking in the 2nd quarter valued at about $34,000. Osborn Williams & Donohoe LLC bought a new position in shares of Westpac Banking in the 1st quarter valued at about $37,000. Zions Bancorporation N.A. bought a new position in shares of Westpac Banking in the 1st quarter valued at about $37,000. Finally, Advisor Group Inc. grew its holdings in shares of Westpac Banking by 285.6% in the 4th quarter. Advisor Group Inc. now owns 2,491 shares of the bank’s stock valued at $45,000 after acquiring an additional 1,845 shares in the last quarter. 0.55% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE WBK traded down $0.14 during mid-day trading on Thursday, hitting $18.69. The company had a trading volume of 2,605 shares, compared to its average volume of 170,149. The company has a market cap of $64.27 billion, a P/E ratio of 10.74, a PEG ratio of 8.92 and a beta of 0.98. The company has a 50-day moving average price of $19.60. Westpac Banking Corp has a one year low of $16.41 and a one year high of $22.16.

Several brokerages have recently weighed in on WBK. Morgan Stanley upgraded Westpac Banking from an “underweight” rating to an “equal weight” rating in a report on Thursday, August 1st. CLSA cut Westpac Banking from an “underperform” rating to a “sell” rating in a report on Monday, May 6th. Zacks Investment Research cut Westpac Banking from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Finally, ValuEngine cut Westpac Banking from a “hold” rating to a “sell” rating in a report on Monday. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Westpac Banking has a consensus rating of “Hold”.

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.

See Also: Trading Stocks – What are percentage gainers?

Want to see what other hedge funds are holding WBK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Westpac Banking Corp (NYSE:WBK).

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

Receive News & Ratings for Westpac Banking Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Westpac Banking and related companies with MarketBeat.com's FREE daily email newsletter.