The Westpac Banking Corp (ASX: WBC) share price is in the red in morning trade.
Westpac shares closed on Friday at $22.66 and are currently trading for $22.42, down 1.06%.
Financial shares are broadly underperforming today, with the S&P/ASX 200 Financials Index (ASX: XFJ) down 0.33% at the time of writing compared to a 0.31% gain posted by the S&P/ASX 200 Index (ASX: XJO).
However, the Westpac share price is the only one of the big four banks in the red.
Image source: Getty Images
What are ASX investors considering?
The Westpac share price may be coming under some selling pressure following the release of the bank's third quarter (Q3) results.
On the positive end of that release, Westpac reported that its capital, credit, and funding positions remained strong in Q3.
With investors increasingly cautious about the outlook for a potential uptick in bad debts as interest rates rise for the first time in a decade, among the good news was the 0.04% drop in the bank's stressed assets to total committed exposures (TCE), which declined to 1.06% in Q3.
However, as my fellow Fool James Mickleboro noted this morning, "No details were provided in respect to its profits, margins, or cost cutting during the quarter. Investors may have to wait until its full-year results later this year for that unfortunately."
That lack of detail may be seeing some investors hitting the sell button today.
Westpac share price snapshot
Westpac has been a strong performer in 2022, with the share price up 3.8% since the opening bell on 4 January. That compares to a year-to-date loss of 7% on the ASX 200.
