Connect with us

Business

Is it time to jump on the Westpac (ASX:WBC) share price?

Published

on

ADVERTISEMENT

Is it time for investors to jump onto the Westpac Banking Corp (ASX: WBC) share price?

Westpac shares just keep going higher and higher. Over just the last two months it has risen by 13.3%.

What’s driving the Westpac share price higher?

Westpac saw most of its recent gain occur after releasing its FY21 first quarter update during reporting season. 

The major ASX bank reported a quarterly statutory net profit of $1.7 billion, which was up significantly from the FY20 second half quarterly average of $550 million.

Its cash earnings came in at $1.97 billion, which was much stronger than the second half of FY20’s quarterly average of $808 million (up 54% excluding notable items).

Westpac reported an impairment benefit of $501…



Click here to view the original article.

Continue Reading
Advertisement

You might also like ...

The ASX miners caught in the FOMO trade as copper smashed record highs
Top broker tips REA Group (ASX:REA) share price to rise 20%