Trade Report: Today, Hanson & Doremus Investment Management Maintains Stake in Westpac Banking Corp. (WBK)

Today, Hanson & Doremus Investment Management Maintains Stake in Westpac Banking Corp. (WBK)

Hanson & Doremus Investment Management maintained its position in shares of Westpac Banking Corp. (NYSE:WBK) during the second quarter, Holdings Channel reports. The firm owned 6,375 shares of the company’s stock at the end of the second quarter. Hanson & Doremus Investment Management’s holdings in Westpac Banking Corp. were worth $141,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in WBK. Ngam Advisors L.P. boosted its stake in Westpac Banking Corp. by 20.9% in the first quarter. Ngam Advisors L.P. now owns 78,032 shares of the company’s stock worth $1,815,000 after buying an additional 13,470 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Westpac Banking Corp. by 42.2% in the first quarter. JPMorgan Chase & Co. now owns 107,588 shares of the company’s stock worth $2,503,000 after buying an additional 31,904 shares during the last quarter. M&T Bank Corp boosted 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 last quarter. BB&T Securities LLC boosted its stake in Westpac Banking Corp. by 11.0% in the first quarter. BB&T Securities LLC now owns 27,548 shares of the company’s stock worth $640,000 after buying an additional 2,739 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Westpac Banking Corp. during the first quarter worth $3,382,000. 0.48% of the stock is owned by institutional investors and hedge funds.

Shares of Westpac Banking Corp. (NYSE:WBK) traded up 1.26% during mid-day trading on Tuesday, reaching $23.28. 36,837 shares of the company’s stock traded hands. The firm has a 50 day moving average price of $22.67 and a 200-day moving average price of $22.59. Westpac Banking Corp. has a 12 month low of $19.83 and a 12 month high of $25.32. The stock has a market cap of $77.44 billion, a PE ratio of 12.61 and a beta of 1.49.

A number of analysts recently weighed in on the stock. Zacks Investment Research cut shares of Westpac Banking Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, June 29th. Credit Agricole SA cut shares of Westpac Banking Corp. from an “underperform” rating to a “sell” rating in a research note on Thursday, July 7th. Finally, JPMorgan Chase & Co. cut shares of Westpac Banking Corp. from an “overweight” rating to a “neutral” rating in a research note on Thursday, August 11th.

About Westpac Banking Corp.

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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