Analysts name Westpac (ASX:WBC) and this dividend share as buys

It could be time to buy Westpac shares…
The post Analysts name Westpac (ASX:WBC) and this dividend share as buys appeared first on The Motley Fool Australia. –

If you’re an income investor on the lookout for new additions, then you may want to check out the dividend shares listed below.

Here’s why analysts have buy ratings on these dividend shares:

Accent Group Ltd (ASX: AX1)

The first ASX dividend share to look at is Accent. While its name may not be familiar, its collection of footwear-focused store brands is likely to be. Accent has a growing portfolio of brands including HYPEDC, Platypus, Sneaker Lab, Stylerunner, and The Athlete’s Foot.

But Accent is unlikely to stop there. The company is not afraid to test the waters with new ideas and then put money behind the ones that work. This strategy has been working wonders and has helped Accent grow at a consistently solid rate over the last few years.

Another positive is the company’s ability to win exclusive licences for footwear brands. This was evident this week when Accent announced a 10-year agreement to become Reebok’s exclusive distributor in the ANZ market.

Bell Potter is a bullish on the company. It currently has a buy rating and $2.90 price target on its shares. Its analysts are also forecasting dividends of 9.3 cents per share in FY 2022 and then 13.3 cents per share in FY 2023.

Based on the latest Accent share price of $2.57, this represents fully franked yields of 3.6% and 5.2%, respectively.

Westpac Banking Corp (ASX: WBC)

Another ASX dividend share that could be in the buy zone is this banking giant.

The Westpac share price has fallen heavily this month following the release of its full year results. Although the bank delivered a 105% jump in cash earnings to $5,352 million, its very weak margin outlook spooked the market and sent investors to the exits.

While this is disappointing, a number of brokers believe it has created a buying opportunity for investors. One of those is Morgans.

In response to the result, the broker retained its add rating and lifted its price target to $30.50.

Morgans is also forecasting fully franked dividends of $1.23 per share in FY 2022 and then $1.62 per share in FY 2023. Based on the current Westpac share price of $22.15, this will mean yields of 5.5% and 7.3%, respectively.

The post Analysts name Westpac (ASX:WBC) and this dividend share as buys appeared first on The Motley Fool Australia.

Should you invest $1,000 in Westpac right now?

Before you consider Westpac, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Westpac wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Why is the NAB (ASX:NAB) share price outperforming the other big banks over the past month?

Accent Group (ASX:AX1) share price races higher on Reebok deal

Westpac (ASX:WBC) share price slides amid $6 million staff back-pay

Analysts say these ASX dividend shares with big yields are buys

2 ASX dividend shares that could be solid additions for income investors

Motley Fool contributor James Mickleboro owns shares of Westpac Banking Corporation. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Accent Group and Westpac Banking Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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