Media coverage about Westpac Banking (NYSE:WBK) has been trending somewhat positive this week, InfoTrie reports. The research group identifies negative and positive news coverage by analyzing more than 6,000 news and blog sources in real-time. The firm ranks coverage of companies on a scale of negative five to five, with scores closest to five being the most favorable. Westpac Banking earned a media sentiment score of 0.91 on their scale. InfoTrie also gave headlines about the bank an news buzz score of 3 out of 10, indicating that recent news coverage is unlikely to have an impact on the stock’s share price in the next several days.
These are some of the headlines that may have effected Westpac Banking’s analysis:
- Australia’s Westpac fined $2.4 million in rate case, fraction of penalty sought (feeds.reuters.com)
- Westpac Banking Corp (WBK) to Issue $0.68 Special Dividend (americanbankingnews.com)
- Citigroup Upgrades Westpac Banking (WBK) to Buy (americanbankingnews.com)
- Westpac Banking (WBK) Earning Somewhat Positive News Coverage, Analysis Finds (americanbankingnews.com)
- Australia’s Westpac FY18 Profit Edges Up; Maintains Dividend – Quick Facts (nasdaq.com)
Several analysts have issued reports on WBK shares. Zacks Investment Research raised Westpac Banking from a “sell” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Sunday, July 15th. Macquarie lowered Westpac Banking from an “outperform” rating to a “neutral” rating in a research note on Friday, August 17th. Finally, Citigroup raised Westpac Banking from a “neutral” rating to a “buy” rating in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Westpac Banking currently has a consensus rating of “Hold” and a consensus target price of $25.00.
The company also recently announced a special dividend, which will be paid on Monday, December 31st. Shareholders of record on Tuesday, November 13th will be paid a $0.6766 dividend. This represents a yield of 7.09%. The ex-dividend date is Friday, November 9th. Westpac Banking’s dividend payout ratio is currently 79.31%.
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, community solutions one, not-for-profit savings, and foreign currency accounts; term, tailor-made, and farm management deposits; debit, credit, and travel money cards; home, personal, investment, small business, and commercial loans; and equipment, automotive, cash flow, property, and insurance premium financing services.
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