ING Groep (NYSE:ING) Stock Rating Upgraded by Zacks Investment Research

ING Groep (NYSE:ING) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday, Zacks.com reports.

According to Zacks, “ING GROEP-ADR is a global financial institution of Dutch origin offering banking, insurance and asset management to over 50 million private, corporate and institutional clients in 65 countries. ING can fully deliver what today’s clients expect: unlimited access, maximum convenience, immediate and accurate execution, personal advice, tailor-made solutions and competitive rates. “

A number of other research analysts have also weighed in on ING. ValuEngine lowered China Southern Airlines from a “hold” rating to a “sell” rating in a report on Monday, April 29th. Barclays set a $18.00 price objective on Summit Materials and gave the stock a “hold” rating in a report on Friday, June 14th. Royal Bank of Canada upped their price objective on Williams-Sonoma to $60.00 and gave the stock a “sector perform” rating in a report on Thursday, March 21st. Finally, JPMorgan Chase & Co. set a $69.00 price objective on Helmerich & Payne and gave the stock a “buy” rating in a report on Wednesday, June 5th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $12.58.

NYSE:ING opened at $11.66 on Friday. The firm has a market capitalization of $45.38 billion, a price-to-earnings ratio of 7.11 and a beta of 1.31. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.13 and a current ratio of 1.13. The company has a 50 day moving average of $11.26. ING Groep has a 12-month low of $10.21 and a 12-month high of $15.36.

ING Groep (NYSE:ING) last released its earnings results on Thursday, May 2nd. The financial services provider reported $0.33 earnings per share (EPS) for the quarter. The business had revenue of $5.20 billion for the quarter. ING Groep had a return on equity of 8.81% and a net margin of 25.28%. On average, analysts expect that ING Groep will post 1.47 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Enterprise Financial Services Corp boosted its position in ING Groep by 85.6% during the first quarter. Enterprise Financial Services Corp now owns 2,287 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 1,055 shares in the last quarter. JNBA Financial Advisors purchased a new stake in ING Groep during the first quarter worth $32,000. Carroll Financial Associates Inc. boosted its position in ING Groep by 40.4% during the second quarter. Carroll Financial Associates Inc. now owns 3,780 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 1,088 shares in the last quarter. Zions Bancorporation N.A. purchased a new stake in ING Groep during the first quarter worth $44,000. Finally, Avestar Capital LLC boosted its position in ING Groep by 1,957.1% during the first quarter. Avestar Capital LLC now owns 4,176 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 3,973 shares in the last quarter. Institutional investors own 3.48% of the company’s stock.

ING Groep Company Profile

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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