If you were looking for an opportunity to buy Westpac Banking Corp (ASX: WBC) shares…
Source: Google Finance
…Monday was it.
Following an unjustified sell-off on global sharemarkets, Westpac shares were heavily discounted as a wave of negative investor sentiment engulfed the S&P/ASX200 (Index: ^AXJO) (ASX: XJO).
However, they have rebounded in spectacular fashion – climbing 8.7% since Monday.
But with Westpac shares now around $32, savvy investors may have missed the boat.
Indeed, along with its 'Big Four' bank peers, Westpac's growth potential has recently been called into question thanks to the slowing economy, increased competition, and regulatory changes brought forward by APRA.
It may be time to look for other dividend stock ideas.
