The Westpac (ASX:WBC) share price is up 30% in 2021

Coming off of a low base in 2020, the bank’s shares are flying in 2021.
The post The Westpac (ASX:WBC) share price is up 30% in 2021 appeared first on The Motley Fool Australia. –

The Westpac Banking Corp (ASX: WBC) share price rise of 30% in 2021 is better than any of the big four banks.

In fact, the next best big bank, Australia and New Zealand Banking GrpLtd (ASX: ANZ), has a rise that is a full third lower than Westpac’s. As an example, if you had invested $10,000 in ANZ on the first trading day of this year, you would have an extra $2,000 to your name. If you had invested that money in Westpac on the other hand, you’d have an extra $3,000.

If you had invested that money in an exchange traded fund (ETF) that tracked the S&P/ASX 200 Index (ASX: XJO), that $10,000 would be about $11,000 now.

Westpac stays winning

While Westpac’s rise this year has been impressive, it should be noted the company was coming off a low base in 2020. Last year, shares in the bank fell by 20% – largely attributable to the COVID-19 pandemic. Commonwealth Bank of Australia (ASX: CBA) shares, on the other hand, ended 2020 about 2.8% higher.

Analysts though are quite bullish on the Westpac share price. As Motley Fool Australia reported, analyst Morgan Stanley believes shares in the company could reach a level as high as $29.20 – nearly 15% above their current price. The analyst also believes the company could pay a dividend with a yield as high as almost 5%.

The bank has also been in the news recently over allegations of fraud within the business.

The post The Westpac (ASX:WBC) share price is up 30% in 2021 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 May 24th 2021

More reading

Why analysts love Westpac (ASX:WBC) and this ASX 200 dividend share
NAB (ASX:NAB) share price up following prediction of no rate hike until 2024
Westpac (ASX:WBC) share price in focus after fraud latest
ASX 200 drops, Myer soars, Ramsay down

ASX 200 up 0.2%: Westpac asset sale, Ramsay increases Spire offer

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 no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!