In a report released today, Andrew Lyons from Goldman Sachs maintained a Buy rating on Westpac Banking (WEBNF – Research Report). The company’s shares closed last Friday at $14.32.
Lyons covers the Financial sector, focusing on stocks such as Bank of Queensland Limited, ANZ Group Holdings, and Bendigo & Adelaide Bank Ltd.. According to TipRanks, Lyons has an average return of -0.9% and a 39.73% success rate on recommended stocks.
In addition to Goldman Sachs, Westpac Banking also received a Buy from Citigroup’s Brendan Sproules in a report issued today. However, on the same day, UBS maintained a Hold rating on Westpac Banking (Other OTC: WEBNF).
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WEBNF market cap is currently $50.52B and has a P/E ratio of 12.58.
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Westpac Banking Corp. engages in the provision of banking and financial services. It operates through the following segments: Consumer Bank, Business Bank, BT Financial Group (Australia), Westpac Institutional Bank, Westpac New Zealand and Group Businesses. The Consumer Bank segment covers consumer banking products and services under the Westpac, St. George, BankSA, Bank of Melbourne and RAMS brands. The Business Bank segment involves in sales and customer service of small-to-medium enterprise, commercial and agribusiness customers under the Westpac, St.George, Bank of Melbourne and BankSA brands. The BT Financial Group (Australia) segment manages wealth and insurance division. The Westpac Institutional Bank segment delivers a range of financial services to commercial, corporate, institutional, and government customers. The Westpac New Zealand segment comprises sales and service of banking, wealth, and insurance products for consumer, business, and institutional customers. The Group Businesses segment treasury which is responsible for the management of the Group’s balance sheet, group technology which includes functions for the Australian businesses, and core support which covers functions performed centrally, including Australian banking operations, property services, strategy, finance, risk, compliance, legal, human resources, and customer and corporate relations. The company was founded in 1817 and is headquartered in Sydney, Australia.
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