Westpac Banking Corp (WBK) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its stake in Westpac Banking Corp (NYSE:WBK) by 32.7% during the first quarter, according to its most recent filing with the SEC. The fund owned 94,284 shares of the bank’s stock after buying an additional 23,211 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Westpac Banking Corp were worth $2,519,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Todd Asset Management LLC boosted its position in shares of Westpac Banking Corp by 19.8% in the third quarter. Todd Asset Management LLC now owns 870,254 shares of the bank’s stock valued at $19,790,000 after buying an additional 144,040 shares during the period. Aperio Group LLC boosted its position in shares of Westpac Banking Corp by 4.2% in the third quarter. Aperio Group LLC now owns 1,101,381 shares of the bank’s stock valued at $25,045,000 after buying an additional 44,732 shares during the period. Sei Investments Co. boosted its position in shares of Westpac Banking Corp by 58.0% in the third quarter. Sei Investments Co. now owns 12,954 shares of the bank’s stock valued at $294,000 after buying an additional 4,755 shares during the period. Northern Trust Corp boosted its position in shares of Westpac Banking Corp by 2.3% in the third quarter. Northern Trust Corp now owns 1,594,627 shares of the bank’s stock valued at $36,263,000 after buying an additional 36,542 shares during the period. Finally, HighTower Advisors LLC boosted its position in shares of Westpac Banking Corp by 12.1% in the third quarter. HighTower Advisors LLC now owns 47,466 shares of the bank’s stock valued at $1,078,000 after buying an additional 5,116 shares during the period. Hedge funds and other institutional investors own 0.49% of the company’s stock.

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

Shares of Westpac Banking Corp (NYSE:WBK) traded up 0.69% during trading on Friday, reaching $23.23. The company had a trading volume of 270,817 shares. Westpac Banking Corp has a 12 month low of $20.32 and a 12 month high of $27.05. The stock has a 50 day moving average price of $25.44 and a 200 day moving average price of $24.84. The firm has a market capitalization of $77.77 billion, a PE ratio of 13.98 and a beta of 1.31.

The company also recently disclosed a semiannual dividend, which will be paid on Friday, July 14th. Stockholders of record on Thursday, May 18th will be issued a dividend of $0.689 per share. This represents a dividend yield of 5.72%. The ex-dividend date is Tuesday, May 16th.

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WBK has been the topic of several research analyst reports. Zacks Investment Research upgraded Westpac Banking Corp from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research note on Tuesday, March 7th. Macquarie cut Westpac Banking Corp from an “outperform” rating to a “neutral” rating in a research note on Tuesday, May 9th.

About Westpac Banking Corp

Westpac Banking Corporation is a banking organization. The Company provides a range of banking and financial services in markets, including consumer, business and institutional banking and wealth management services. The Company is engaged in the provision of financial services, including lending, deposit taking, payments services, investment portfolio management and advice, superannuation and funds management, insurance services, leasing finance, general finance, interest rate risk management and foreign exchange services.

12 Month Chart for NYSE:WBK

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