WBK - Westpac Banking Corporation

NYSE - NYSE Delayed price. Currency in USD
19.08
+0.31 (+1.65%)
At close: 4:02PM EDT
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Previous close18.77
Open18.83
Bid18.60 x 800
Ask19.11 x 2200
Day's range18.83 - 19.16
52-week range18.33 - 26.25
Volume392,022
Avg. volume351,898
Market cap65.38B
Beta (3Y Monthly)1.09
PE ratio (TTM)10.92
EPS (TTM)1.75
Earnings dateN/A
Forward dividend & yield1.41 (7.46%)
Ex-dividend date2018-05-16
1y target est20.74
Trade prices are not sourced from all markets
  • China Stock Market Rocked by Forced Sellers; Yuan Hits Fresh Low
    Bloomberg2 days ago

    China Stock Market Rocked by Forced Sellers; Yuan Hits Fresh Low

    Efforts by local governments to shore up confidence in smaller companies failed to boost sentiment. The yuan slid beyond its closely watched August low after the U.S. Treasury Department stopped short of declaring China a currency manipulator, a move that some interpreted as giving Beijing breathing room to allow a weaker exchange rate. Chinese policy makers face a tough balancing act as they try to maintain financial stability amid slowing economic growth, a trade war with America and rising U.S. interest rates.

  • FX Tranquillity Shows Faith in Fed Staying Course in Stock Rout
    Bloomberg9 days ago

    FX Tranquillity Shows Faith in Fed Staying Course in Stock Rout

    While the U.S. share-market turmoil of the past few days has encouraged some trimming of bets on Federal Reserve interest-rate increases, the current scale of the risk sell-off appears unlikely to derail the central bank’s plan to tighten policy. Some observers point to February, when a spike in equity volatility did little to deter the Fed from its path. Appetite for the Japanese yen remained relatively muted even as the U.S. stock sell-off extended to equity markets in Asia and Europe, while the Swiss franc has actually fallen versus the euro.

  • Real Risks You Need To Know Before Investing In Westpac Banking Corporation (ASX:WBC)
    Simply Wall St.last month

    Real Risks You Need To Know Before Investing In Westpac Banking Corporation (ASX:WBC)

    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 Admits Lending Breaches, Settles for $25 Million Penalty
    Bloomberg2 months ago

    Westpac Admits Lending Breaches, Settles for $25 Million Penalty

    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.

  • Sydney Mortgages Signal Australia’s Central Bank On Hold to 2020
    Bloomberg2 months ago

    Sydney Mortgages Signal Australia’s Central Bank On Hold to 2020

    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 First Big Australian Lender to Raise Mortgage Rates
    Bloomberg2 months ago

    Westpac First Big Australian Lender to Raise Mortgage Rates

    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.

  • China Authorities See Downside Growth Risks, Westpac's Cheung Says
    Bloomberg3 months ago

    China Authorities See Downside Growth Risks, Westpac's Cheung Says

    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)

  • A Holistic Look At Westpac Banking Corporation (ASX:WBC)
    Simply Wall St.4 months ago

    A Holistic Look At Westpac Banking Corporation (ASX:WBC)

    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...

  • Where Westpac Banking Corporation (ASX:WBC) Stands In Terms Of Earnings Growth Against Its Industry
    Simply Wall St.4 months ago

    Where Westpac Banking Corporation (ASX:WBC) Stands In Terms Of Earnings Growth Against Its Industry

    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 Cleared of Rate-Rigging, Though It Tried, Court Says
    Bloomberg5 months ago

    Westpac Cleared of Rate-Rigging, Though It Tried, Court Says

    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.

  • Westpac’s Safe House Has Shifting Foundations
    Bloomberg5 months ago

    Westpac’s Safe House Has Shifting Foundations

    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.

  • AAP6 months ago

    Mortgage book doubts shake Westpac

    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 rated 'sell' on mortgage doubts
    AAP6 months ago

    Westpac rated 'sell' on mortgage doubts

    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.

  • Westpac puts the brakes on market's gains
    AAP6 months ago

    Westpac puts the brakes on market's gains

    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 ...

  • AAP6 months ago

    'Westpac making me a scapegoat': advisor

    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".

  • Westpac, ANZ front banks royal commission
    AAP6 months ago

    Westpac, ANZ front banks royal commission

    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.

  • Poor Westpac advice cost retirement dream
    AAP6 months ago

    Poor Westpac advice cost retirement dream

    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's record keeping was 'sloppy': CEO
    AAP7 months ago

    Westpac's record keeping was 'sloppy': CEO

    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.

  • Westpac 'most resistant' to banking laws
    AAP7 months ago

    Westpac 'most resistant' to banking laws

    Westpac was once described by the corporate regulator as the "most resistant" of the big four banks to Australia's finance laws, and accused of trying to keep misconduct quiet. The Australia Securities and Investments Commission expressed the views in notes drafted before a meeting with Westpac chairman Lindsay Maxsted in 2015, and tendered to the banking royal commission on Friday. ASIC met with Mr Maxsted after repeatedly raising concerns about how Westpac was issuing credit card limit increases to customers.

  • Westpac credit increases under spotlight
    AAP7 months ago

    Westpac credit increases under spotlight

    Westpac sent letters to more than one million customers offering credit card limit increases without checking their incomes or employment statuses. Westpac has been grilled at the banking royal commission about its approach to lifting credit card limits from 2012 to 2014, which ultimately led to it refunding $11.3 million to 3400 customers. David Malcolm, Westpac's general manager of credit, said before the 1.16 million letters were sent an automated system analysed customer spending data and repayment habits with the bank.

  • AAP7 months ago

    Inquiry spotlight on inappropriate lending

    ROYAL COMMISSION PUTS SPOTLIGHT ON INAPPROPRIATE CONSUMER LENDING 1. RESIDENTIAL MORTGAGES CASE STUDIES * NATIONAL AUSTRALIA BANK'S INTRODUCER PROGRAM AND FRAUDULENT LOAN APPLICATIONS NAB in November revealed ...

  • Banks not highly profitable: Westpac CFO
    AAP8 months ago

    Banks not highly profitable: Westpac CFO

    Westpac's chief financial officer has told the Productivity Commission that Australian banks are not highly profitable just because they make large profits. Peter King told the commission's inquiry into competition in the financial industry that the $31.5 billion of profit amassed by Australia's big four banks in their last full financial year were due to their size and efficiency. "Australia's major banks are not 'highly profitable' as the draft report indicates," Mr King said.

  • AAP8 months ago

    Westpac, ANZ return millions to customers

    Two of the nation's major banks are refunding more than $21 million to thousands of customers affected by errors with their credit card practices. Westpac has completed the repayment of $11.3 million to 3,401 customers that were impacted by the bank's former credit card limit increase processes. A review launched by the Australian Securities and Investments Commission in 2014 raised issues with the way Westpac was approving increases to credit card limits, and the bank in 2015 began reviewing customers that had since experienced financial difficulty.