|Bid||24.87 x 0|
|Ask||24.88 x 0|
|Day's Range||24.78 - 25.40|
|52 Week Range||24.76 - 31.74|
|Beta (3Y Monthly)||1.13|
|PE Ratio (TTM)||10.81|
|Earnings Date||May 7, 2018 - May 11, 2018|
|Forward Dividend & Yield||1.88 (7.56%)|
|1y Target Est||28.87|
Australia's largest pension fund, AustralianSuper, said it will vote against the executive pay of three of the country's biggest banks, in a show of the investment community's souring attitude towards the sector following a year-long misconduct probe. Westpac Banking Corp (WBC.AX), the country's second-largest lender, would be first to receive AustralianSuper's protest vote at its annual shareholder meeting on Wednesday. The pension fund said it would also vote against the executive pay plans of Australia and New Zealand Banking Group Ltd (ANZ.AX) and National Australia Bank Ltd (NAB.AX) in the coming weeks.
The Australian dollar lost ground on Wednesday after third quarter gross domestic product growth missed forecasts and amid analyst concern over the outlook for economic growth in 2019. The country’s GDP growth rate for the three months to the end of September was 0.3 per cent, according to the Australian Bureau of Statistics. The Australian currency was down 0.4 per cent at $0.7306 against its US counterpart.
Moody's Investors Service says that housing loan delinquencies for Australia's four major banks continued to grow in the 12 months to 30 September 2018, although arrears remain at low levels. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS. "We expect that delinquencies on residential mortgages will rise moderately in 2019 from the current low base," says Daniel Yu, a Moody's Vice President and Senior Analyst.
AT&T Inc. (NYSE:T), Altria Group Inc. (MO), Gilead Sciences Inc. (GILD) and Westpac Banking Corp. (WBK) have declined to their three-year lows. Prevas will use AT&T's IoT solutions to help its customers more easily access their smart operations and services.
Moody's Investors Service has today upgraded the ratings on the Class C and Class E Notes issued by Crusade ABS Series 2015-1 Trust. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS. The upgrade was prompted by the increase in credit enhancement levels of Class C and Class E Notes from sequential pay, and the better default and loss performance compared with our initial assumptions.
An Australian court refused on Tuesday to approve a record A$35 million ($25 million) fine imposed on Westpac Banking Corp (WBC.AX) by the corporate regulator for using inappropriate calculations to determine if customers could afford home loans. The decision is a further blow to the Australian Securities and Investments Commission (ASIC), after a public inquiry into the financial sector found it had failed to stop systemic wrongdoing by the major banks. ASIC's announcement in September that Westpac had agreed to pay the fine was seen as a badly needed victory for the regulator as it attempts to rebuild its reputation as a tough cop on the beat.
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...
Westpac Banking Corp (WBC.AX) won vindication of its decision to fight accusations its conduct in handling of a key rate was unconscionable as an Australian court fined it A$3.3 million ($2.4 million), far less than the sum sought by a regulator. A federal court judge largely cleared Westpac in May of accusations it interfered with negotiations for an important internal price-setting measure called the Bank Bill Swap Rate (BBSW), but said its actions still amounted to unconscionable conduct. The bank and the Australian Securities and Investments Commission (ASIC) have since been haggling in court over Westpac's fine, and on Friday the judge rejected the regulator's argument that the bank be made to pay A$58 million.
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...
Westpac Banking Corporation filed its Annual Report on Form 20-F with the US Securities and Exchange Commission for the financial year ended September 30, 2018 on November 7, 2018 .
AT&T Inc. (NYSE:T), Allergan PLC (ACT), General Electric Co. (GE), and Westpac Banking Corp. (WBK) have declined to their three-year lows. The prices of AT&T Inc. (NYSE:T) shares have declined to $29.09 on Oct. 26, which is only 0.1% above the 3-year low of $29.07. AT&T Inc. an American multinational telecommunications conglomerate that is the second largest provider of mobile telephone services and the largest provider of fixed telephone services in the United States.
The banking sector — and bank stocks — saw an intriguing reversal in the 21st century. Beginning in the early 2000’s, interest-rate cuts gave bank stock investors dividend yields that exceeded the rates depositors earned in interest.
SYDNEY/HONG KONG (Reuters) - Investment bankers are bracing for the start of a landmark legal case about alleged cartel activity in Australia's financial sector, nervous the proceedings could lead to increased scrutiny and tougher measures from regulators worldwide. Australian authorities filed criminal charges in June against the local units of Citigroup (C.N), Deutsche Bank (DBKGn.DE), Australia and New Zealand Banking Group (ANZ.AX) and six bankers over a $2.3 billion stock sale. Most past investigations into cartels by the Australian Competition and Consumer Commission (ACCC) have looked at trade in goods.
Anheuser-Busch InBev (BUD), Westpac Banking Corp. (WBK), Liberty Global PLC (LBTYK), and WPP PLC (WPP) have declined to their three-year lows. The prices of Anheuser-Busch InBev (BUD) shares have declined to $86.65 on Oct. 5, which is only 1.7% above the 3-year low of $85.14. Warning! GuruFocus has detected 4 Warning Signs with BUD.
The ACCC said the inquiry would examine the ways exchange rates are presented to customers as well as the mark-up from wholesale currency rates that buyers are charged when changing currencies. “We will be examining why major companies in Australia, including the Big Four banks, seem to be able to consistently charge high prices,” ACCC Chair Rod Sims said.
Sept 28 (Reuters) - Westpac Banking Corp said on Friday it had agreed to sell funds management business Ascalon Capital Managers to Generation Development Group. The lender said in an announcement that ...
Philip Morris International Inc. (PM), British American Tobacco PLC (BTI), Westpac Banking Corp. (WBK) and National Grid PLC (NGG) have declined to their three-year lows. The prices of Philip Morris International Inc. (PM) shares have declined to $79.33 on Sept. 14, which is only 3.9% above the 3-year low of $76.21. Philip Morris International Inc. is an American international cigarette and tobacco manufacturing company best known for its Marlboro brand.
Moody's Investors Service says that the latest home loan rate increases by Australia's major banks are credit positive, because they will help mitigate the negative effects of rising wholesale funding costs, slower credit growth, and higher regulatory and compliance costs. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS.