Westpac Banking Corp (ASX: WBC) shares have pulled back from their recent highs, which may tempt investors who missed the earlier run.

The fully franked dividend also remains appealing.

But has the lower share price created one of the best buying opportunities on the ASX this week?

A fair price rather than a bargain

Westpac shares are trading around $36.66.

According to consensus estimates, this puts the shares on a price-to-earnings ratio of around 17.2 times FY26 earnings and 17.1 times FY27 earnings.

Those multiples are far from outrageous, particularly for a major bank with a large customer base and a strong capital position.

The forecast dividend adds more weight to the investment case.

Consensus estimates are for dividends per share of $1.54 in FY26 and $1.55 in FY27, giving Westpac forward dividend yields of approximately 4.2% in both years. Those dividends are expected to be fully franked, which could improve the after-tax income for eligible investors.

I can understand why that combination would attract income-focused shareholders.

Westpac is making progress

I think the investment case has improved under CEO Anthony Miller.

Westpac has been growing across mortgages, business lending, and deposits, while also trying to reduce unnecessary complexity across the company. Its first-half result showed continued lending momentum, lower costs compared with the previous half, and a capital position comfortably above management’s target.

I also like the opportunity in business banking. Relationships with business customers can extend across lending, deposits, payments, equipment finance, working capital, and transaction services. That can make them deeper than a standard home loan relationship and provide several ways for Westpac to earn revenue.

The UNITE technology program could also leave Westpac with a simpler and more efficient bank. Bringing systems and processes together should eventually improve the customer experience and reduce duplication, although a transformation of this size will require careful execution.

Why I am staying selective

The biggest issue for me is the limited earnings growth currently expected.

Consensus estimates suggest EPS will rise only slightly between FY26 and FY27. At around 17 times forecast earnings, I do not think investors are being offered enough of a discount to compensate for that modest outlook.

Banking also remains intensely competitive. Westpac must fight for mortgages and deposits while investing heavily in technology, meeting regulatory requirements, and preparing for credit losses if economic conditions weaken.

Foolish takeaway

Westpac is heading in a better direction, and the recent share price weakness has improved the entry point.

Existing shareholders have good reasons to remain patient while collecting a fully franked dividend. Income investors may also find the forecast yield attractive enough to begin a measured position.

Even so, I would not call Westpac shares a top buy this week. The valuation looks fair rather than cheap, while forecast earnings growth remains subdued.

For me, Westpac is a hold at current prices and a potential buy after a further pullback.

The post Are Westpac shares a top buy this week? appeared first on The Motley Fool Australia.

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Motley Fool contributor Grace Alvino has no position in any of the stocks mentioned. 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 Scott Phillips.

The Ophir High Conviction Fund (ASX: OPH) share price is in focus today after announcing its full-year unfranked distribution of 36.33 cents per unit, with payment due on 17 August 2026.

What did Ophir High Conviction Fund report?

• Full year unfranked distribution of 36.33 cents per unit
• Distribution relates to the period ending 30 June 2026
• Record date is 1 July 2026; ex-date is 30 June 2026
• Payment scheduled for 17 August 2026
• Distribution Reinvestment Plan (DRP) available to eligible unitholders with a zero discount

What else do investors need to know?

This distribution is entirely unfranked, reflecting current taxation arrangements for the fund. The DRP allows eligible investors—those based in Australia and New Zealand—to reinvest their distributions into additional units, with the reinvestment price to be based on the fund’s net asset value during the calculation period.

Unitholders who do not elect to participate in the DRP will receive their distribution as a cash payment. Final tax component details will be provided in standard AMMA statements following 30 June.

What’s next for Ophir High Conviction Fund?

Looking ahead, management is expected to continue focusing on delivering value to unitholders and communicating distribution details clearly. Eligible investors may choose to reinvest or receive distributions as cash, depending on their individual circumstances. The fund will update the market on any changes to future distributions or fund strategies as needed.

Ophir High Conviction Fund share price snapshot

Over the past 12 months, Ophir High Conviction shares have declined 19%, trailing the S&P/ASX All Ords Index (ASX: XAO), which has risen 2% over the same period.

View Original Announcement

The post Ophir High Conviction Fund announces FY26 unfranked distribution appeared first on The Motley Fool Australia.

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Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. 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 Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

S&P/ASX Small Ordinaries Index (ASX: XSO) shares are in the green on Monday, up 0.5% to 3,323.9 points.

ASX small-cap shares outperformed in FY26. The index rose 5.46% and delivered a total return, including dividends, of 8.11%.

This compares with a 2.43% rise and a 5.69% total return for the S&P/ASX All Ordinaries Index (ASX: XAO).

This week, experts are calling time on three ASX small-cap shares.

Let’s find out why (courtesy The Bull).

Judo Capital Holdings Ltd (ASX: JDO)

The Judo share price is 95 cents, up 1.3% on Monday and down 39% over 12 months.

The ASX small-cap bank share took a big hit last month after Judo issued a profit guidance downgrade.

Mark Elzayed from Investor Pulse explains his sell recommendation on Judo Capital shares:

Judo recently cut profit before tax guidance in fiscal year 2026 to between $163 million and $169 million from a previous range of between $180 million and $190 million.

It was primarily driven by a higher cost of risk now expected to range between $116 million and $122 million following specific provisions against three exposures across different sectors.

Profit before tax guidance of between $210 million and $220 million in full year 2027 was below market expectations of $255.1 million.

In our view, market reaction reflects more than a one-off potential earnings downgrade.

Provisioning risk remains elevated, so we retain a sell on Judo Capital.

Forrestania Resources Ltd (ASX: FRS)

The Forrestania Resources share price is 38 cents, down 3.8% today but up 192% over 12 months.

Elzayed also gives this ASX small-cap materials share a sell rating, and commented:

FRS is a gold exploration and development company focusing on building quality projects across Western Australia’s mining districts.

FRS announced on July 1 it had received binding commitments to raise about $310 million for the Edna May Gold Hub. The company’s objective is to have Edna May fully commissioned and operational in the first half of 2027.

An institutional placement of 775 million shares was priced at 40 cents. The placement is shareholder dilutive and gold prices remain under pressure, in our view.

The shares have fallen from 64 cents on May 18 to trade at 39 cents on July 15.

Readytech Holdings Ltd (ASX: RDY)

The Readytech share price is $1.61, down 0.3% today and and down 33% over 12 months.

Nathan Lodge from Securities Vault explained his sell rating on this ASX small-cap tech share:

An unsolicited, non-binding indicative proposal to acquire ReadyTech Holdings was rejected by the RDY board on June 1, 2026.

The RDY board concluded that the $2 a share cash scheme arrangement and a parallel off market bid of $1.75 a share didn’t reflect the company’s inherent value and wouldn’t be executable. The shares were trading at $1.61 on July 15.

ReadyTech has built a quality software business with recurring revenue across education, workforce management and government solutions.

However, I believe much of the company’s long term growth potential is already reflected in the share price, limiting scope for further upside in the near term. ReadyTech operates in highly competitive markets.

The post Sell Judo shares and 2 other ASX small-caps: experts appeared first on The Motley Fool Australia.

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Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended ReadyTech. 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 Scott Phillips.