WBC.AX - Westpac Banking Corporation
Chart Events
Performance Outlook
- Short Term2W - 6W
- Mid Term6W - 9M
- Long Term9M+
| Previous Close | 20.19 |
| Open | 20.19 |
| Bid | 20.24 x 224300 |
| Ask | 20.27 x 626700 |
| Day's Range | 20.12 - 20.30 |
| 52 Week Range | 18.80 - 24.50 |
| Volume | |
| Avg. Volume | 7,026,290 |
| Market Cap | 70.95B |
| Beta (5Y Monthly) | 0.82 |
| PE Ratio (TTM) | 11.51 |
| EPS (TTM) | 1.76 |
| Earnings Date | Aug 21, 2023 |
| Forward Dividend & Yield | 1.40 (6.99%) |
| Ex-Dividend Date | May 11, 2023 |
| 1y Target Est | 22.04 |
Fair Value
Related Research
ReutersAustralian lender Westpac to raise interest rates after cenbank hike
In a surprise move, the RBA raised interest rates by a quarter-point to an 11-year high, and warned that further tightening may be required to ensure that inflation returns to target. The cash rate now sits at 4.1%, bringing the total RBA hikes in its price battle to a whopping 400 basis points since May last year. Westpac's new home loan rate will be effective from June 20, the bank said in a statement.
BloombergNew Zealand’s Central Bank Set to Raise Interest Rates, Leave Door Open for More
(Bloomberg) -- New Zealand’s central bank is poised to raise interest rates for a 12th straight meeting and may signal it’s not done yet as surging immigration and looser fiscal policy counter its efforts to curb demand.Most Read from BloombergChina’s $23 Trillion Local Debt Mess Is About to Get WorseMexico Raises Alert Level on Volcano Rumbling Near CapitalParents Sue Elite Schools for ‘Indoctrinating’ Their Kids With Anti-Racist PoliciesBiden-McCarthy Debt Talk Ends With Optimism, But Without
ReutersAustralia's Westpac says won't stick to home loan guideline as interest rates surge
SYDNEY (Reuters) -Australia's Westpac Banking Corp said it will refinance loans for some borrowers who don't meet an industry standard that assesses their ability to repay, putting pressure on the bank regulator to relax guidelines after a year of interest rate hikes. The country's No. 2 mortgage provider has told mortgage brokers that "if a customer is unable to meet serviceability under the standard assessment criteria", it might apply a modified serviceability assessment rate. The Australian Prudential Regulation Authority (APRA) advises banks to extend loans to customers only if the bank believes they can repay at three percentage points higher than current market rates.
ReutersBinance Australia says banking disrupted as payment provider cuts service
SYDNEY (Reuters) -The Australian arm of Binance, the world's largest crypto-currency exchange, on Thursday said some customers there will be unable to deposit or withdraw money after a third-party service provider cut off its service. Binance said on social media that users would be unable to make Australian dollar deposits by bank transfer with immediate effect after payments provider Cuscal cut access. "We are working hard to find an alternative provider to continue offering AUD deposits and withdrawals to our users," Binance said in a statement.
- Reuters
Binance Australia says banking disrupted after payment provider cuts off service
The Australian arm of Binance, the world's largest crypto-currency exchange, on Thursday said some local customers will be unable to deposit or withdraw money after a third-party payment provider cut off its service. Binance on social media said users are unable to make Australian dollar deposits by bank transfer with immediate effect. "We are working hard to find an alternative provider to continue offering AUD deposits and withdrawals to our users," Binance said in a statement.
- Reuters
CORRECTED-FOREX-Dollar heavy amid U.S. default risks; Aussie, yuan slip on China data miss
The U.S. dollar remained under pressure on Tuesday, weighed down by the risk of a U.S. default as a standoff between Democrats and Republicans over raising the debt ceiling showed few signs of being resolved. The Aussie dollar flipped from early small gains to a loss after economic data from key trading partner China fell short of analysts' forecasts, adding to evidence of a sputtering COVID recovery. The U.S. dollar index - which measures the currency against a basket of six major peers - was little changed at 102.46, after sliding 0.26% overnight and retreating from a five-week high.
- Reuters
CORRECTED-FOREX-Dollar on back foot as U.S. default risk weighs
The U.S. dollar remained under pressure on Tuesday, weighed down by the risk of a U.S. default as a standoff between Democrats and Republicans over raising the debt ceiling showed few signs of being resolved. The dollar index - which measures the currency against a basket of six major peers - was little changed at 102.39 after sliding 0.26% overnight, retreating from a five-week high. The greenback had been buoyed last week by both safe-haven demand amid a sputtering Chinese COVID recovery and by a surprise jump in U.S. consumer inflation expectations, which led markets to put the risk of a June Federal Reserve rate hike back in play.
ReutersAustralian consumer mood bleak in May after surprise rate hike, budget
SYDNEY (Reuters) -A measure of Australian consumer sentiment fell in May after a surprise hike in interest rates by the Reserve Bank of Australia (RBA) and a "mildly disappointing" federal budget clouded the outlook for family finances and the economy. The Westpac-Melbourne Institute index of consumer sentiment out on Tuesday slid 7.9% in May from April, with the index falling to just above the levels seen in March, which recorded the lowest monthly reading since the COVID-19 outbreak in 2020. "The two key developments over the last month have been the surprise decision by the Reserve Bank Board to lift the cash rate by a further 0.25% in May and the Federal Budget," Westpac chief economist Bill Evans said.
- Investing.com
Australian consumer sentiment worsens in May after RBA hike - Westpac
Investing.com -- Australian consumer sentiment marked its sharpest drop in nearly three years in early-May, a private survey showed on Tuesday, dented chiefly by a surprise interest rate hike by the Reserve Bank, which pointed to increased cost of living pressures.
BloombergWestpac Says RBNZ Will Hike Cash Rate to 6% to Tame Inflation
(Bloomberg) -- New Zealand’s central bank will need to raise the Official Cash Rate to 6% this year to be assured of taming inflation, according to Westpac Banking Corp.Most Read from BloombergTurkey Latest: Erdogan Says Unclear If Vote Will Go to RunoffTurkey Set for Runoff as Erdogan Falls Just Short of VictoryChicago’s Empty Office Towers Threaten Its Future as a Major Financial HubS&P ETF Barely Budges on Yellen’s Late-Day Notice: Markets WrapMichael Burry Doubles Alibaba Stake in Big Bet on
Simply Wall St.Here's Why Westpac Banking (ASX:WBC) Has Caught The Eye Of Investors
For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...
ReutersWestpac ditches cost-cutting target, says profit margins to thin
(Reuters) -Australia's Westpac Banking Corp on Monday threw out a cost-cutting target citing inflation and flagged thinner profit margins going ahead, but investors pushed its shares higher after it handily beat expectations for first-half profit. CEO Peter King said inflation was pushing up overheads as the 206-year-old bank abandoned a target in place since 2021 to bring annual costs down to A$8 billion by 2024 and which had been subsequently increased to A$8.6 billion.
- Reuters
Silicon Valley Bank was a big interest rate bet gone bad -Westpac CEO
Silicon Valley Bank collapsed after it took a big bet on interest rates and got it wrong, Westpac Chief Executive Peter King said on Tuesday. "They took a pretty big punt on interest rates and they got it wrong," he said at the Australian Financial Review Banking Summit in Sydney.
ReutersAustralia consumer mood stuck in the doldrums in March
Australian consumer sentiment stayed stuck at historically depressed levels in March amid concerns over inflation and interest rates, a survey showed on Tuesday, with the appetite for buying big-ticket items especially weak. The Westpac-Melbourne Institute index of consumer sentiment was unchanged in March, following a dive of 6.9% the month before. "Index reads below 80 are rare, back-to-back reads even rarer," noted Westpac chief economist Bill Evans.
- Simply Wall St.
Westpac Banking (ASX:WBC) investors are sitting on a loss of 5.3% if they invested five years ago
For many, the main point of investing is to generate higher returns than the overall market. But in any portfolio...
ReutersAustralia's Westpac posts lower CET1 ratio as provisions rise
Australia's central bank has hiked interest rates nine times this cycle, by a cumulative 325 basis points, in a bid to combat runaway inflation. Higher rates are starting to pressure borrowing capacity of customers and raised risks as loan repayments escalate, leading to a rise in bank's risk weighted assets by A$2.8 billion to A$480.44 billion at December end, from A$477.62 billion at September end. Westpac also paid out a 64 Australian cents per share final dividend declared in November, making a total payout of over A$2 billion, which also ate away at its CET1 ratio.
ReutersAustralia's four biggest banks fully pass on central bank rate hike
Like National Australia Bank and ANZ Group Holdings, Commonwealth Bank said its rise would take effect on Feb. 17. Westpac, the other lender among Australia's four biggest banks, said its rise would be effective on Feb. 21. The Reserve Bank of Australia's Tuesday move took its policy rate, the cash rate, to 3.35%, the highest in about a decade.
ReutersAustralia consumer mood brightens for second month in a row
A measure of Australian consumer sentiment rose in January for the second straight month, as a break in a painful cycle of interest rate rises likely provided temporary relief for borrowers. The Westpac-Melbourne Institute index of consumer sentiment released on Tuesday rose 5.0% in January, the largest monthly gain since April 2021 and building on a gain of 3.0% in December. Westpac chief economist Bill Evans said one likely explanation for the lift in confidence is that January is the first month that did not see an interest rate hike by the Reserve Bank of Australia since April.
- Investing.com
Australia consumer sentiment rises in Jan, still 'depressingly low' - Westpac
By Ambar Warrick
ReutersAustralia consumer mood less bleak on hope for rate hike relief
A measure of Australian consumer sentiment bounced from near record lows in December as borrowers sensed a painful cycle of interest rate rises was nearing an end, lifting the outlook for house prices. The Westpac-Melbourne Institute index of consumer sentiment released on Tuesday rose 3.0% in December, recovering some of November's steep 6.9% slide. "In the case of interest rates, there are even some signs that the news is becoming viewed as slightly less negative – consistent with the notion that the bulk of the interest rate tightening cycle is now behind us," said Westpac chief economist Bill Evans.
- Simply Wall St.
Shareholders Will Probably Not Have Any Issues With Westpac Banking Corporation's (ASX:WBC) CEO Compensation
Despite Westpac Banking Corporation's ( ASX:WBC ) share price growing positively in the past few years, the per-share...