How has the Westpac (ASX:WBC) share price performed against the banking sector in August?

Let's see how Westpac's performance compares to its ASX banking brethren this month.

A row a pink piggy banks ranging in size from small to big, indicating ASX share price and dividends growth CBA bank dividend increase

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

How is the Westpac Banking Corp (ASX: WBC) share price faring in this month of August so far?

Good question. With earnings season accelerating in the week that's just passed us by, it's a great time to gauge the entire S&P/ASX 200 Index (ASX: XJO), of which, of course, Westpac is a major top-5 constituent.

The ASX 200 has had a bumpy month so far, but is still up roughly 1.3% at the time of writing.

So how has Westpac done?

Well, this ASX banking share started the month at $24.52 a share. As of Friday's close, the bank was trading at a share price of $25.99. That means Westpac shares have given investors a return of roughly 6% for the month so far.

Let's see how this compares with Westpac's ASX banking brethren.

How does the Westpac share price measure up to the other ASX banks in August?

Well, Commonwealth Bank of Australia (ASX: CBA) has had a rather interesting August. As of current pricing, CBA shares are up a decent 1.9% over August so far, rising from $99.65 a share at the start of the month to Friday's closing price of $101.54 a share.

But in the meantime, CBA did rise to a new all-time high of $109.03 shortly after it released its FY21 earnings report on 11 August. Although investors obviously sent CBA through the roof at the time, the shares are now down more than 6% from those highs.

Turning to Australia and New Zealand Banking Group Ltd (ASX: ANZ), and we get a similar story to CBA.

ANZ started the month at $27.71 a share and closed at $28.32 on Friday – representing a total gain of 2.2% for August so far. ANZ also got a meaningful boost when CBA reported its numbers, rising to a new 52-week high of $29.64 on 13 August. However, the shares have cooled off since, and remain down more than 4% from those highs.

NAB shares come out on top for August so far

And finally, we have National Australia Bank Ltd (ASX: NAB). NAB shares have performed similarly to Westpac over August so far, experiencing no pullback in the weeks since CBA reported its earnings.

NAB started the month at $25.92 a share and ended up on Friday at $27.64. That puts its August gains at 6.6% so far for August. That puts NAB on top of the ASX banks and makes it the best performing major bank over August so far, just pipping Westpac's 6%.

Even so, Westpac shareholders should be happy with their returns over the month to date, seeing as they still meaningfully outperform the ASX 200 over the same time.

At Westpac's last share price, the company has a market capitalisation of $95.42 billion, a price-to-earnings (P/E) ratio of 22.24 and a dividend yield of 3.42%.

Motley Fool contributor Sebastian Bowen owns shares of National Australia Bank Limited. 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.

More on Bank Shares

A man sits in contemplation on his sofa looking at his phone as though he has just heard some serious or interesting news.
Bank Shares

Here's when Westpac says the RBA will now cut interest rates

The RBA surprised everyone by keeping rates on hold last week. So, when will the next cut happen?

Read more »

Hand holding Australian dollar (AUD) bills, symbolising ex dividend day. Passive income.
Bank Shares

This is the ASX bank stock with the largest dividend yield right now

Looking to ASX bank stocks for dividend income right now?

Read more »

A man sits in deep thought with a pen held to his lips as he ponders his computer screen with a laptop open next to him on his desk in a home office environment.
Bank Shares

ASX banking sector: Is it time to consider a regional bank?

The big 4 banks are widely considered to be overvalued.

Read more »

A person leans over to whisper a secret to a colleague during a meeting.
Bank Shares

Here are the latest growth forecasts for the CBA share price

Can the bank continue rising? Here are some expert views.

Read more »

A businessman presents a company annual report in front of a group seated at a table
Bank Shares

Earnings season predictions: Macquarie weighs in on the big 4 banks

What are the broker's predictions?

Read more »

Contented looking man leans back in his chair at his desk and smiles.
Bank Shares

Major CBA investor reveals why he's all in

This investor described one major reason driving his investment in CBA shares.

Read more »

Young investor sits at desk looking happy after discovering Westpac's dividend reinvestment plan
Bank Shares

Invested $10,000 in Westpac shares 2 years ago? Guess how much you've already banked!

Atop their regular dividend payments, Westpac shares have enjoyed a strong two-year run.

Read more »

Woman calculating dividends on calculator and working on a laptop.
Bank Shares

Buying CBA stock today? Here's the dividend yield you'll get

CBA's yield right now might surprise you.

Read more »