ING Groep NV (NYSE:ING)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $13.77, but opened at $13.48. ING Groep shares last traded at $13.41, with a volume of 227567 shares changing hands.
Several research firms have commented on ING. ValuEngine cut ING Groep from a “hold” rating to a “sell” rating in a report on Saturday, June 2nd. Zacks Investment Research raised ING Groep from a “sell” rating to a “hold” rating in a report on Tuesday, August 28th. Finally, JPMorgan Chase & Co. cut ING Groep from an “overweight” rating to a “neutral” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $21.00.
The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.29. The firm has a market capitalization of $52.77 billion, a PE ratio of 9.32, a P/E/G ratio of 1.28 and a beta of 1.27.
ING Groep (NYSE:ING) last issued its earnings results on Thursday, August 2nd. The financial services provider reported $0.44 earnings per share (EPS) for the quarter. ING Groep had a return on equity of 10.28% and a net margin of 28.47%. The business had revenue of $5.35 billion during the quarter, compared to analysts’ expectations of $5.06 billion. equities research analysts anticipate that ING Groep NV will post 1.57 EPS for the current year.
The business also recently announced a special dividend, which was paid on Tuesday, August 21st. Stockholders of record on Monday, August 13th were issued a $0.2799 dividend. The ex-dividend date was Friday, August 10th. This represents a dividend yield of 6.86%. ING Groep’s payout ratio is presently 30.56%.
Several institutional investors and hedge funds have recently modified their holdings of the company. Fisher Asset Management LLC raised its holdings in shares of ING Groep by 4.0% in the 2nd quarter. Fisher Asset Management LLC now owns 43,296,870 shares of the financial services provider’s stock worth $620,011,000 after buying an additional 1,679,519 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of ING Groep by 5.7% in the 2nd quarter. Bank of America Corp DE now owns 10,242,046 shares of the financial services provider’s stock worth $146,666,000 after buying an additional 555,940 shares in the last quarter. Morgan Stanley raised its holdings in shares of ING Groep by 0.6% in the 2nd quarter. Morgan Stanley now owns 6,716,829 shares of the financial services provider’s stock worth $96,185,000 after buying an additional 38,482 shares in the last quarter. Schafer Cullen Capital Management Inc. raised its holdings in shares of ING Groep by 1.0% in the 1st quarter. Schafer Cullen Capital Management Inc. now owns 4,893,803 shares of the financial services provider’s stock worth $82,852,000 after buying an additional 46,620 shares in the last quarter. Finally, Northern Trust Corp grew its position in ING Groep by 2.2% during the 1st quarter. Northern Trust Corp now owns 4,428,122 shares of the financial services provider’s stock worth $74,968,000 after acquiring an additional 95,214 shares during the last quarter. 3.54% of the stock is owned by institutional investors and hedge funds.
ING Groep Company Profile (NYSE:ING)
ING Groep N.V., a financial institution, provides various banking products and services to individuals, small and medium-sized enterprises, and mid-corporates. It operates in Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking segments. The company accepts various deposits, such as current and savings accounts; and offers business lending products, as well as consumer lending products, such as residential mortgage loans, term loans, and revolver and personal loans.
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