29/11/2024 09:00

Westpac Banking Corp (WBC) $33.40

The banks are knocking on the door of fresh highs into the bullish Christmas period, with ANZ, NAB and WBC rewarding shareholders with their dividends later in December; all three traded ex-dividend earlier this month. This massive wave of cash from the banks and other companies usually helps lift the market into Christmas, making it a period where surprises are often on the upside.

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14/11/2024 09:29

Westpac Banking Corp (WBC) $32.01

In recent months, we flagged WBC as likely to consolidate in a similar fashion to the 2Q; as the chart below illustrates, the call is on point so far.

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04/11/2024 16:49

Westpac Banking Corp (WBC) $32.40

Westpac struggled early after delivering an FY24 result which was largely in line with market forecasts.

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01/11/2024 09:26

Westpac Banking Corp (WBC) $32.12

WBC rallied over 40% in 2024, although it has corrected over 10% in recent weeks. Discussing WBC levels into a report and dividend needs a degree of flexibility, but all things being equal, we are adopting “a sell strength and buy dips” stance at this stage - this could change when they report next week.

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27/09/2024 09:14

Westpac Banking Corp. (WBC) $32.34

WBC has been the standout ASX bank in 2024, advancing +42% year-to-date. At MM, we’re often keen buyers of the stronger stocks when they experience pullbacks, aka JB Hi-Fi (JBH) in April/May; similarly, if WBC pulls back towards $31, the risk/reward looks interesting, although its valuation will still be rich

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19/08/2024 17:27

Westpac (WBC) $30.40

WBC +2.49% Q3 update today so short on detail, though what was announced showed positive trends, particularly around margins which should underpin begrudging upgrades from sell side analysts;

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09/08/2024 09:35

Westpac Banking Corp (WBC) $27.85

WBC is the best-performing “Big Four” bank to date in 2024, making it hard for MM to get excited around the $28 area. A poor CBA result might create some weakness in the sector; we would like the risk/reward towards WBC to be 6-8% lower.

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06/08/2024 09:25

Westpac Banking Corp (WBC) $27.68

WBC is still up over 20% in 2024, even after the recent correction; it’s been the best performer out of the “Big Four”, beating even CBA. A forecasted yield above 5% should help patient investors if equities take time to regain their mojo.

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07/05/2024 09:32

Westpac Bank (WBC) v ANZ Group Ltd (ANZ)

NAB and WBC both delivered solid results this month. ANZ was a touch softer this morning at the profit line, although they beat with their dividend, plus a $2bn buyback should be supportive moving forward. We are mildly bullish on the banks and have no plans to reduce our current exposure - MM is long ANZ and NAB in our Active Growth Portfolio & NAB & CBA in our Active Income Portfolio.

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06/05/2024 16:51

Westpac (WBC) $27.12

WBC +2.65%:  Reported 1H24 results this morning that were a shade ahead of consensus expectations, providing more evidence that banks remain incredibly well capitalised for the better economic outcomes being achieved, opening to door for capital management. Net Profit After Tax (NPAT) of  $3.34bn compared to Consensus of $3.28bn, earnings per share (EPS) of 91.6cps and an interim dividend of 75cps fully franked (Cons 71cps) PLUS a 15cps special dividend fully franked.

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