|Bid||26.95 x 110000|
|Ask||27.30 x 60000|
|Day's range||26.95 - 27.21|
|52-week range||26.60 - 34.77|
|Beta (3Y monthly)||0.74|
|PE ratio (TTM)||10.89|
|Forward dividend & yield||2.01 (7.54%)|
|1y target est||38.40|
On 30 September 2018, Westpac Banking Corporation (ASX:WBC) announced its earnings update. Overall, it seems that analyst forecasts are fairly optimistic, with earnings expected to grow by 4.7% in the Read More...
Important news for shareholders and potential investors in Westpac Banking Corporation (ASX:WBC): The dividend payment of AU$0.94 per share will be distributed to shareholders on 20 December 2018, and the Read More...
In September 2018, Westpac Banking Corporation (ASX:WBC) released its most recent earnings announcement, which indicated that the business benefited from a slight tailwind, leading to a single-digit earnings growth of Read More...
Large banks such as Westpac Banking Corporation (ASX:WBC), with a market capitalisation of AU$95.25b, have benefited from improving credit quality as a result of post-GFC recovery, leading to a strongRead More...
Westpac Banking Corp. agreed to pay a A$35 million ($25 million) civil penalty after admitting it breached responsible-lending laws by failing to properly assess whether some customers could afford to repay their mortgages. In a settlement ahead of court, the regulator said in a statement that Westpac’s automated loan approval system had failed to use customers’ actual living expenses when assessing affordability and instead relied on a lower benchmark. “This outcome is a warning to all lenders that they must comply with the responsible lending obligations,” Australian Securities & Investments Commission Chairman James Shipton said.
A surprise interest rate-hike for Australian mortgage holders should further delay a Reserve Bank policy tightening that markets have already pushed out to 2020. Westpac Banking Corp.’s decision to raise borrowing costs last week will likely be repeated by other major lenders, as typically occurs in Australia. “We see economic growth slowing further over 2018,” said Daniel Blake, a strategist at Morgan Stanley in Sydney, ahead of gross domestic product data due Wednesday.
Westpac Banking Corp. raised its key mortgage rate, the first of the nation’s biggest banks to decide passing on higher funding costs is worth the risk of further reputational damage. Westpac shares extended gains after the announcement to close 2.7 percent higher -- the biggest gain in more than two months. Shares of the other big banks -- Australia & New Zealand Banking Group Ltd., Commonwealth Bank of Australia and National Australia Bank Ltd. -- also rallied on the news.
Frances Cheung, Westpac's head of Asia strategy, discusses China's fiscal stimulus with Bloomberg's Yvonne Man and Ramy Inocencio on "Bloomberg Daybreak: Asia." (Source: Bloomberg)
Attractive stocks have exceptional fundamentals. In the case of Westpac Banking Corporation (ASX:WBC), there’s is a dependable dividend payer that has been able to sustain great financial health over theRead More...
Measuring Westpac Banking Corporation’s (ASX:WBC) track record of past performance is a useful exercise for investors. It enables us to understand whether or not the company has met or exceedRead More...
Westpac Banking Corp. has been cleared of manipulating a key Australian interest rate, even though it did engage in “unconscionable conduct” in attempting to influence the rate, a court ruled. The Australian Securities & Investments Commission had claimed Westpac sought to influence the bank bill swap rate -- which is used to price more than A$10 trillion ($7.6 trillion) in derivatives -- to benefit its trading positions.
As Australia’s housing market goes, so goes Westpac Banking Corp. What’s more, while its big three competitors – including National Australia Bank Ltd. and Australia & New Zealand Banking Group Ltd. – have reduced their market share over the past year, Westpac has been expanding aggressively.
Investment bank UBS cut its rating on big-four bank Westpac to a "sell" in a new report after analysing lending documents released by the banking royal commission that express concerns over Westpac's home lending practices. Westpac shares fell by $1.05, or 3.6 per cent to $28.13 - their lowest level since early 2016 - in trading on the Australian share market on Thursday. * UBS studied data on 420 Westpac mortgages that was given to consultancy PwC for an internal analysis in 2017.
Westpac shares have plunged to a two-year low after investment bank UBS cut the stock to a "sell" rating on concerns over the quality of the lender's mortgage book. Internal Westpac documents released by the banking royal commission were analysed by UBS banking analyst Jonathan Mott, who said there were now questions over the quality of Westpac's $400 billion mortgage book. "We see significantly higher risks than we had previously incorporated into our assessment of the stock," Mr Mott said in his research note.
A sharp fall in Westpac shares to their lowest level in almost two years is offsetting gains in most of other sectors of the share market, leaving the main indices only modestly higher. The benchmark S&P/ASX200 ...
The former Westpac financial planner criticised at the financial services royal commission says he's been made a scapegoat by the bank. Andrew Smith was named at the commission last week when Westpac executive and BT Finance national head Michael Wright gave evidence. Mr Wright told the inquiry he believed one of the reasons the planner gave inappropriate advice to numerous clients was to maintain his "level of remuneration".
A week of damaging revelations for Australia's biggest financial players at the banking royal commission will end with Westpac and ANZ having to defend bad advice given by their planners. After days of damning evidence about customers being charged fees for financial advice they never received, the royal commission has turned its focus to inappropriate advice. Westpac has already admitted a senior planner gave poor advice to a couple who wanted to use their superannuation to buy a property where they could live and run a bed and breakfast business, a strategy that was never a viable option for them.
Jacqueline and Hugh McDowall's retirement dream to buy a bed and breakfast business turned into a financial nightmare. Due to poor financial advice from a Westpac planner, the nurse and truck driver lost their family home pursuing a dream that was never going to become a reality. The McDowalls sold their Melbourne home, using the proceeds to clear the hefty mortgage and set up the SMSF.
Westpac chief executive Brian Hartzer says the bank had been sloppy rather than deliberately negligent in its checks on whether potential customers could repay their mortgages. "We have been a little sloppy on some of the record keeping but I think it is drawing a pretty long bow when you look at the actual performance and of credit quality of the banks over a long period of time to suggest that there is something fundamentally wrong," Mr Hartzer told a business summit in Sydney on Thursday. The banking royal commission has heard Westpac and the Commonwealth Bank had flawed processes for making sure home loan applicants were telling the truth about their income, expenses and debts.
One of Australia's largest banks has apologised to Tasmanian pensioners for not sending their promised energy rebate cheques before Christmas. Westpac on Thursday apologised for the delays in posting the state government's promised $125 energy bonus after earlier making repeated assurances the cheques would be sent out on time. "Westpac apologises to Tasmanians who did not receive their cheques on time and are reviewing the procedures to ensure that this does not occur again," the bank said in a statement.