Morgan Stanley Sells 10,920 Shares of Westpac Banking Corp (NYSE:WBK)

Morgan Stanley trimmed its position in shares of Westpac Banking Corp (NYSE:WBK) by 4.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 219,007 shares of the bank’s stock after selling 10,920 shares during the period. Morgan Stanley’s holdings in Westpac Banking were worth $4,365,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Bank of America Corp DE grew its holdings in Westpac Banking by 4.2% during the 2nd quarter. Bank of America Corp DE now owns 1,246,926 shares of the bank’s stock valued at $24,851,000 after purchasing an additional 50,015 shares during the last quarter. Private Advisor Group LLC bought a new position in Westpac Banking during the 2nd quarter valued at about $382,000. US Bancorp DE grew its holdings in Westpac Banking by 35.2% during the 2nd quarter. US Bancorp DE now owns 42,561 shares of the bank’s stock valued at $848,000 after purchasing an additional 11,071 shares during the last quarter. United Capital Financial Advisers LLC grew its holdings in Westpac Banking by 12.3% during the 2nd quarter. United Capital Financial Advisers LLC now owns 22,226 shares of the bank’s stock valued at $443,000 after purchasing an additional 2,437 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its holdings in Westpac Banking by 19.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 2,789,330 shares of the bank’s stock valued at $55,591,000 after purchasing an additional 463,909 shares during the last quarter. Institutional investors own 0.57% of the company’s stock.

Shares of WBK stock opened at $19.87 on Friday. The company has a market capitalization of $68.54 billion, a P/E ratio of 11.42, a P/E/G ratio of 8.44 and a beta of 0.95. The company’s 50-day simple moving average is $19.86 and its two-hundred day simple moving average is $19.40. Westpac Banking Corp has a one year low of $16.41 and a one year high of $20.56.

Several equities analysts recently commented on the stock. Zacks Investment Research downgraded shares of Westpac Banking from a “buy” rating to a “hold” rating in a report on Saturday, October 5th. Credit Suisse Group upgraded shares of Westpac Banking from a “neutral” rating to an “outperform” rating in a research note on Monday, September 2nd. ValuEngine downgraded shares of Westpac Banking from a “hold” rating to a “sell” rating in a research note on Monday, August 12th. Finally, Morgan Stanley upgraded shares of Westpac Banking from an “underweight” rating to an “equal weight” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Westpac Banking has an average rating of “Hold” and an average target price of $21.00.

Westpac Banking Profile

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 one, community solutions one, not-for-profit savings, and foreign currency accounts; term and farm management deposits; debit, credit, and travel money cards; home, personal, investment, small business, and commercial loans; and equipment, automotive, cash flow, property, insurance premium, corporate and structured finance, and trade and supply chain financing services.

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Institutional Ownership by Quarter for Westpac Banking (NYSE:WBK)

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