Lake Street Advisors Group LLC Acquires Shares of 10,137 Westpac (WBK)

Lake Street Advisors Group LLC acquired a new stake in Westpac (NYSE:WBK) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 10,137 shares of the bank’s stock, valued at approximately $247,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Parametric Portfolio Associates LLC boosted its position in Westpac by 15.4% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,999,094 shares of the bank’s stock valued at $50,417,000 after buying an additional 266,397 shares during the last quarter. Renaissance Technologies LLC boosted its position in Westpac by 14.4% in the 4th quarter. Renaissance Technologies LLC now owns 1,406,100 shares of the bank’s stock valued at $34,281,000 after buying an additional 177,401 shares during the last quarter. Aperio Group LLC boosted its position in Westpac by 1.9% in the 4th quarter. Aperio Group LLC now owns 1,288,863 shares of the bank’s stock valued at $31,422,000 after buying an additional 23,680 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Westpac by 57.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 347,512 shares of the bank’s stock valued at $8,765,000 after buying an additional 126,489 shares during the last quarter. Finally, Crossmark Global Holdings Inc. boosted its position in Westpac by 1.2% in the 4th quarter. Crossmark Global Holdings Inc. now owns 332,489 shares of the bank’s stock valued at $8,106,000 after buying an additional 4,079 shares during the last quarter. Hedge funds and other institutional investors own 0.60% of the company’s stock.

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WBK stock opened at $22.01 on Friday. Westpac has a 12-month low of $22.00 and a 12-month high of $27.05. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 2.74.

A number of research analysts have commented on WBK shares. Zacks Investment Research upgraded Westpac from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research report on Sunday, January 21st. Morgan Stanley lowered Westpac from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 16th. ValuEngine lowered Westpac from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. Macquarie upgraded Westpac from a “neutral” rating to an “outperform” rating in a research report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. upgraded Westpac from a “neutral” rating to an “overweight” rating in a research report on Tuesday, January 30th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. Westpac presently has an average rating of “Hold” and an average price target of $28.00.

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Westpac Company Profile

Westpac Banking Corporation is a banking organization. The Company provides a range of banking and financial services in markets, including consumer, business and institutional banking and wealth management services. The Company is engaged in the provision of financial services, including lending, deposit taking, payments services, investment portfolio management and advice, superannuation and funds management, insurance services, leasing finance, general finance, interest rate risk management and foreign exchange services.

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Institutional Ownership by Quarter for Westpac (NYSE:WBK)

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