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WBC $30.06

Wesypac-If I were a shareholder

  1. fitzman

    1,006 Posts.

    Yesterday WBC purchased just over 700,000 shares under their buyback arrangement. I dont know who is doing the buyback but this was over 10% of the days volume.
    This to me seems very poor use of shareholder capital. Whilst benificial in the short term for price support, this level of intervention ultimatly results in less shares being repurchased- a long term negative.
    In the current environment for banking stocks & the perception over the ensuing period of underperformance in this sector less intervention would result in substantially better long term returns to the banks shareholders by buying back more shares.
    Just my opinion but very poor use of capital & mismanagement of the funds I believe.
    I am not a shareholder and never have had Westpac shares.

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