ING Groep (NYSE:ING) Rating Increased to Hold at Zacks Investment Research

ING Groep (NYSE:INGGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday, 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. “

Several other research analysts have also recently weighed in on ING. UBS Group increased their price objective on ING Groep from €15.30 ($16.28) to €15.90 ($16.91) and gave the stock a “buy” rating in a research report on Monday, May 9th. Deutsche Bank Aktiengesellschaft lowered their price objective on ING Groep from €13.00 ($13.83) to €12.00 ($12.77) in a research report on Tuesday, May 17th. JPMorgan Chase & Co. increased their price objective on ING Groep from €12.70 ($13.51) to €12.80 ($13.62) and gave the stock an “overweight” rating in a research report on Thursday, May 19th. StockNews.com started coverage on ING Groep in a report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Royal Bank of Canada reduced their target price on ING Groep from €10.50 ($11.17) to €10.00 ($10.64) in a report on Tuesday, May 10th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, ING Groep has an average rating of “Hold” and a consensus target price of $13.08.

Shares of ING Groep stock opened at $10.61 on Tuesday. ING Groep has a 12-month low of $8.97 and a 12-month high of $15.97. The stock has a market cap of $41.39 billion, a P/E ratio of 8.29, a P/E/G ratio of 0.66 and a beta of 1.76. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.83. The business’s 50 day moving average is $10.10 and its 200-day moving average is $12.53.

ING Groep (NYSE:INGGet Rating) last posted its quarterly earnings results on Friday, May 6th. The financial services provider reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.10. ING Groep had a return on equity of 7.77% and a net margin of 23.05%. The business had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $5.01 billion. On average, sell-side analysts expect that ING Groep will post 1.14 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. Spire Wealth Management bought a new position in shares of ING Groep during the fourth quarter worth about $26,000. CWM LLC bought a new stake in ING Groep in the fourth quarter worth approximately $30,000. Farmers & Merchants Investments Inc. increased its holdings in ING Groep by 80.6% in the first quarter. Farmers & Merchants Investments Inc. now owns 3,199 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 1,428 shares in the last quarter. UMB Bank N A MO bought a new stake in ING Groep in the fourth quarter worth approximately $38,000. Finally, Prospera Financial Services Inc bought a new stake in ING Groep in the first quarter worth approximately $54,000. Institutional investors own 9.33% of the company’s stock.

ING Groep Company Profile (Get Rating)

ING Groep N.V., a financial institution, provides various banking products and services in the Netherlands, Belgium, Germany, Poland, Rest of Europe, North America, Latin America, Asia, and Australia. It operates in six segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, Wholesale Banking, and Corporate Line Banking.

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