The Midas Management Corp Holds Stake in Westpac Banking Corp. (WBK)

The Midas Management Corp Holds Stake in Westpac Banking Corp. (WBK)

Midas Management Corp held its stake in Westpac Banking Corp. (NYSE:WBK) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 60,000 shares of the company’s stock at the end of the second quarter. Midas Management Corp’s holdings in Westpac Banking Corp. were worth $1,325,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Kistler Tiffany Companies LLC raised its stake in Westpac Banking Corp. by 5.2% in the second quarter. Kistler Tiffany Companies LLC now owns 4,645 shares of the company’s stock worth $103,000 after buying an additional 229 shares during the period. Checchi Capital Advisers LLC raised its stake in Westpac Banking Corp. by 6.4% in the second quarter. Checchi Capital Advisers LLC now owns 21,527 shares of the company’s stock worth $476,000 after buying an additional 1,293 shares during the period. 1st Global Advisors Inc. raised its stake in Westpac Banking Corp. by 15.6% in the second quarter. 1st Global Advisors Inc. now owns 10,551 shares of the company’s stock worth $233,000 after buying an additional 1,420 shares during the period. Logan Capital Management Inc. raised its stake in Westpac Banking Corp. by 7.7% in the first quarter. Logan Capital Management Inc. now owns 27,121 shares of the company’s stock worth $631,000 after buying an additional 1,950 shares during the period. Finally, M&T Bank Corp raised its stake in Westpac Banking Corp. by 17.1% in the first quarter. M&T Bank Corp now owns 13,947 shares of the company’s stock worth $325,000 after buying an additional 2,035 shares during the period. 0.48% of the stock is currently owned by institutional investors and hedge funds.

Shares of Westpac Banking Corp. (NYSE:WBK) traded down 0.04% during mid-day trading on Friday, hitting $22.98. The stock had a trading volume of 70,614 shares. The stock has a 50 day moving average of $22.67 and a 200-day moving average of $22.60. The stock has a market capitalization of $76.45 billion, a P/E ratio of 12.45 and a beta of 1.49. Westpac Banking Corp. has a 52 week low of $19.83 and a 52 week high of $25.32.

A number of analysts have issued reports on the company. JPMorgan Chase & Co. lowered Westpac Banking Corp. from an “overweight” rating to a “neutral” rating in a report on Thursday, August 11th. Credit Agricole SA lowered Westpac Banking Corp. from an “underperform” rating to a “sell” rating in a report on Thursday, July 7th. Finally, Zacks Investment Research lowered Westpac Banking Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, June 29th.

Westpac Banking Corp. Company Profile

Westpac Banking Corporation is a banking organization. The Company provides banking and financial services in markets, including consumer, business and institutional banking and wealth management services. It has three segments: Australian Financial Services (AFS), Westpac Institutional Bank (WIB) and Westpac New Zealand.

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