WBC Stock Today (Nov 26, 2025): Westpac Share Price Holds Near Highs Ahead of Final Dividend

Data as at around 12:05 pm on 26 November 2025 (Sydney time). Figures are indicative and may change.

Key takeaways for WBC stock today

Westpac Banking Corp (ASX: WBC) is trading around A$37.9 at midday, slightly below yesterday’s A$38.02 close and roughly 0.4% lower on the day. ^[1]
The 52‑week range sits at A$28.44–A$41.00, with WBC still less than 10% below its all‑time high near A$41 reached earlier this month. ^[2]
Westpac’s 2025 full‑year profit came in at about A$6.9–7.0 billion, with customer deposits up 7% and loans up 6%, and a CET1 capital ratio of 12.5%. ^[3]
Shareholders are lining up for a fully franked final dividend of A$0.77 per share, going ex‑dividend on 6 November 2025 and due to be paid 19 December 2025, taking total ordinary dividends to A$1.53 for the year. ^[4]
On current numbers, WBC trades on around 19x trailing earnings, 1.8x book value and a ~4% trailing dividend yield, underpinned by a market cap near A$130 billion. ^[5]
Analyst views are broadly neutral to mildly positive, with about a dozen brokers on average rating the stock around the “hold/soft buy” level and forecasting modest earnings growth into FY26. ^[6]

WBC stock price today: slightly softer but still close to record highs

At around midday on 26 November 2025, WBC stock is changing hands for roughly A$37.9 on the ASX. Intraday, Westpac shares have traded between about A$37.85 and A$38.30, compared with a previous close of A$38.02. ^[7]

That leaves WBC:

Down roughly 0.3–0.4% on the session, based on current indications. ^[8]
About 7–8% below its recent high near A$41.00, which it hit earlier in November. ^[9]
Well above the 52‑week low of A$28.44, keeping the one‑year trading range at A$28.44–A$41.00. ^[10]

Price action today comes against a backdrop where growth and resources names have recently been leading the ASX, while the big banks have taken more of a back seat. ^[11]

For context, WBC has delivered around 15% total return over the past 12 months, according to aggregated analyst data, putting it firmly in the “steady compounder” camp rather than a high‑beta momentum play. ^[12]

Why WBC stock is in focus on 26 November 2025

Westpac is one of Australia’s “big four” banks and a heavyweight in the S&P/ASX 200, meaning its share price matters for both bank investors and index‑tracking portfolios. Several recent developments explain why WBC stock is getting extra attention right now:

Fresh full‑year results (FY25)
On 3 November 2025, Westpac released its financial results for the year ended 30 September 2025. The bank reported: ^[13]
- Statutory net profit of A$6.9 billion, slightly down year‑on‑year.
- Net profit excluding notable items of A$7.0 billion.
- Customer deposits up 7% and loans up 6%, with particularly strong growth in business and institutional lending.
- A Common Equity Tier 1 (CET1) capital ratio of 12.5%, comfortably above regulatory minima.
Dividend uplift and capital returns
Westpac lifted total ordinary dividends to 153 cents per share for the year, including a final fully franked dividend of 77 cents per share. That represents a modest increase on last year and signals confidence in the bank’s capital position and earnings power. ^[14]
Sale of the RAMS mortgage portfolio
A key strategic move accompanying the result was Westpac’s sale of its RAMS mortgage book, freeing up capital and simplifying the group’s structure. ^[15]
Share price near record highs
WBC shares hit an all‑time high around A$41 earlier in November, and while they’ve eased slightly since, they remain close to that peak. ^[16]

With results now digested and the final dividend date approaching, investors are asking whether WBC can continue to outperform into 2026—or whether much of the good news is already priced in.

Full‑year 2025 results: steady profit, stronger balance sheet

Westpac’s FY25 numbers paint the picture of a large bank in “steady improvement” mode rather than dramatic turnaround:

Profitability:
Statutory net profit of A$6.9 billion and underlying profit around A$7.0 billion were only slightly below last year but delivered off a larger loan book, reflecting rising costs and ongoing competition for deposits. ^[17]
Growth:
- Customer deposits +7% year‑on‑year.
- Loans +6%, with business lending up 15% and institutional lending up 17%, according to the company’s results commentary. ^[18]
Capital strength:
The CET1 ratio at 12.5% gives Westpac ample buffer above regulatory requirements and supports both dividends and ongoing capital management (including a still‑running on‑market buyback program from previous years). ^[19]
Strategy and transformation:
Management continues to lean on its “One Best Way” / UNITE transformation program, aimed at simplifying products, upgrading technology and improving risk controls—an area where Australian banks have faced regulatory scrutiny. ^[20]

Overall, FY25 was not a blockbuster year, but it reinforced the narrative that Westpac is running with a solid, de‑risked balance sheet and a clear plan to keep nudging returns higher over time.

Dividend and capital returns: why income investors care about WBC

For many investors, WBC stock is first and foremost an income play.

Dividend profile

From the latest results and corporate calendar:

Total FY25 ordinary dividend:A$1.53 per share, fully franked (76 cents interim + 77 cents final). ^[21]
Final dividend details:
- Ex‑dividend date: 6 November 2025
- Record date: 7 November 2025
- Payment date: 19 December 2025 ^[22]

At a share price around A$37.9, that A$1.53 in annual dividends equates to a trailing cash yield of roughly 4%, before the benefit of franking credits. ^[23]

Broker summaries suggest forward‑looking dividends could edge up to around A$1.55–1.60 over the next couple of years, implying a forward yield in the mid‑4% range if the share price stays near current levels. ^[24]

Capital management

Westpac has also been using on‑market share buybacks as a supplementary way to return capital, with the FY25 results presentation flagging the continuation of buybacks announced in late 2023 and 2024. ^[25]

Combined, the dividend plus buyback story is a key reason many investors see WBC as a core long‑term holding in income‑focused Australian portfolios.

How expensive is WBC stock today?

On current numbers, Westpac doesn’t look “cheap,” but it doesn’t scream “bubble” either.

Based on the latest market data:

Market cap: ~A$129–130 billion ^[26]
Trailing P/E: around 19x earnings ^[27]
Forward P/E: just under 18x ^[28]
Price‑to‑book (P/B): roughly 1.8x ^[29]
Trailing dividend yield:~4.0–4.1% (fully franked), with forward yield a touch higher on consensus forecasts. ^[30]

For comparison, data compiled by research platforms indicates Westpac’s one‑year total return around 15% sits in the same ballpark as its big‑bank peers, though at a valuation multiple that is lower than Commonwealth Bank but above some smaller rivals. ^[31]

Bottom line on valuation:
At today’s price, WBC is priced as a steady, mature franchise: investors are paying up for a strong capital position and reliable dividends, but they’re not being asked to assume explosive growth.

What analysts are saying about WBC stock

Sell‑side and independent research houses are generally constructive but not euphoric on WBC:

Reuters data shows a mean rating of about 3.6 out of 5 from 12 analysts, sitting on the border between “Hold” and “Buy.” ^[32]
Analyst aggregation services highlight double‑digit total returns over the past year and modest forecast earnings growth (around 5% per year) through FY26, with consensus net profit estimates in the A$7.1–7.5 billion range for FY26. ^[33]
Some research notes emphasise that, after the recent share price rally to record highs, upside now depends on Westpac hitting its efficiency and technology goals and maintaining benign credit conditions. ^[34]

In short, analysts largely see WBC as fairly valued to slightly attractive, with the dividend stream and capital strength doing most of the heavy lifting in their investment cases.

Key risks and catalysts for WBC in late 2025 and 2026

Even for a relatively defensive bank stock, there are important risks and catalysts to watch from here:

1. Interest‑rate path and margin pressure

Westpac’s profitability is highly sensitive to the Reserve Bank of Australia’s (RBA) rate settings and competitive pricing for deposits and mortgages. Any faster‑than‑expected easing cycle—or intensifying competition for deposits—could compress net interest margins.

Major local banks, including Westpac, have already been adjusting their rate‑cut forecasts and strategy in response to evolving inflation data. ^[35]

2. Credit quality and the economy

While Westpac’s FY25 results showed solid asset quality, a meaningful slowdown in the Australian economy, pressure on household budgets, or rising business insolvencies could require higher impairment charges, weighing on earnings. ^[36]

3. Execution of the transformation program

The bank’s UNITE / “One Best Way” program involves major technology and process upgrades. These projects can deliver big savings and better customer experiences—but they also carry execution and cost‑overrun risk. ^[37]

4. Regulatory and reputational risk

As one of Australia’s largest financial institutions, Westpac sits under intense regulatory and public scrutiny. Any mis‑steps in compliance, conduct or customer treatment could lead to fines, remediation costs, or brand damage.

5. Upcoming events

Near‑term, investors will be watching:

2025 AGM on 11 December 2025, where management may provide more colour on the outlook and capital management. ^[38]
Final dividend payment on 19 December 2025, a key date for income‑focused shareholders. ^[39]

These events could influence short‑term sentiment and trading in WBC stock.

Should you buy WBC stock now?

Whether WBC belongs in your portfolio depends on your goals, risk tolerance and time horizon, but today’s setup looks roughly like this:

Positives for WBC stock today

Defensive, systemically important franchise with strong market share in Australian retail and business banking. ^[40]
Robust capital position (CET1 12.5%) providing a buffer against shocks and underpinning dividends and buybacks. ^[41]
Reliable, fully franked dividend stream with a ~4% trailing yield and the potential for modest growth if earnings rise as forecast. ^[42]
Shares still offer some headroom below recent highs, despite strong 12‑month returns. ^[43]

Challenges and watch‑points

The stock is no longer “cheap” after rallying to record territory earlier in November, trading on a high‑teens earnings multiple. ^[44]
Earnings growth is expected to be steady rather than spectacular, leaving less room for disappointment if margins come under pressure or credit losses rise. ^[45]
As with all major banks, WBC carries macro and regulatory risk that can be hard to forecast precisely.

For long‑term income and blue‑chip investors, WBC today looks like a classic “quality yield” play: not a bargain, but a large, well‑capitalised bank offering a dependable dividend and moderate growth prospects.

For short‑term traders, the picture is more balanced: with the share price sitting close to record highs and volatility relatively low, near‑term upside may hinge on positive surprises at the AGM, better‑than‑expected economic data, or a further re‑rating of the Australian banking sector.

❗ Important: This article is general information only and does not constitute financial advice. Always consider your own objectives, financial situation and needs, and seek professional advice before making investment decisions.

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