ING Groep (NYSE:ING) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
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. “
Other equities research analysts have also issued research reports about the company. ValuEngine lowered ING Groep from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 4th. JPMorgan Chase & Co. lowered ING Groep from an “overweight” rating to a “neutral” rating in a research report on Monday, September 3rd. Morgan Stanley raised ING Groep from an “underweight” rating to an “equal weight” rating in a research report on Friday, November 2nd. Finally, Royal Bank of Canada reaffirmed a “neutral” rating on shares of ING Groep in a research report on Thursday, November 1st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $21.00.
ING Groep (NYSE:ING) last posted its quarterly earnings results on Thursday, November 1st. The financial services provider reported $0.23 earnings per share (EPS) for the quarter. The company had revenue of $5.40 billion for the quarter. ING Groep had a return on equity of 9.05% and a net margin of 24.83%. Equities analysts forecast that ING Groep will post 1.5 EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the business. Belpointe Asset Management LLC acquired a new stake in shares of ING Groep during the 3rd quarter worth about $116,000. Hilltop Holdings Inc. acquired a new stake in shares of ING Groep during the 3rd quarter worth about $130,000. Bailard Inc. acquired a new stake in shares of ING Groep during the 3rd quarter worth about $133,000. Russell Investments Group Ltd. acquired a new stake in shares of ING Groep during the 3rd quarter worth about $136,000. Finally, Rhumbline Advisers acquired a new stake in shares of ING Groep during the 3rd quarter worth about $142,000. 3.47% of the stock is currently owned by institutional investors.
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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