BAC - WBK: Ringing The Register
Main Thesis
The purpose of this article is to articulate why I believe Westpac Banking Corp. (NYSE:WBK) is no longer an attractive investment option at its current market price. WBK has struggled in 2018, yet I thought it had found a bottom a few months ago after some steep declines. While the stock has come back, returns have been small, and lag the broader U.S. and Australia equity markets, as well as the financial sector as a whole. Furthermore, dividend growth has been non-existent for WBK, which is especially concerning as major U.S.