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

Zacks Investment Research upgraded shares of ING Groep (NYSE:ING) from a sell rating to a hold rating in a research report released on Wednesday, 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 also recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of ING Groep from a neutral rating to an overweight rating in a research report on Wednesday, June 5th. Barclays initiated coverage on shares of ING Groep in a research report on Friday, June 14th. They set an underweight rating and a $11.15 price objective on the stock. BNP Paribas downgraded shares of ING Groep from an outperform rating to a neutral rating in a research report on Friday, August 2nd. Goldman Sachs Group restated a buy rating on shares of ING Groep in a research report on Tuesday. Finally, Exane BNP Paribas downgraded shares of ING Groep from an outperform rating to a neutral rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $12.58.



ING Groep stock traded up $0.02 during midday trading on Wednesday, reaching $10.64. 6,099,843 shares of the company traded hands, compared to its average volume of 3,219,194. The firm has a market capitalization of $41.37 billion, a price-to-earnings ratio of 6.49, a price-to-earnings-growth ratio of 3.64 and a beta of 1.31. The business has a 50 day moving average of $10.02 and a two-hundred day moving average of $11.49. ING Groep has a 12 month low of $9.22 and a 12 month high of $13.77. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.96 and a quick ratio of 1.13.

ING Groep (NYSE:ING) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 earnings per share for the quarter. The company had revenue of $5.24 billion for the quarter. ING Groep had a net margin of 24.99% and a return on equity of 8.83%. As a group, equities analysts forecast that ING Groep will post 1.45 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bessemer Group Inc. bought a new position in ING Groep in the second quarter worth approximately $34,000. Carroll Financial Associates Inc. raised its position in ING Groep by 40.4% in the second quarter. Carroll Financial Associates Inc. now owns 3,780 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 1,088 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new position in ING Groep in the second quarter worth approximately $43,000. Zions Bancorporation N.A. bought a new position in ING Groep in the first quarter worth approximately $44,000. Finally, Avestar Capital LLC raised its position in ING Groep by 1,957.1% in the first quarter. Avestar Capital LLC now owns 4,176 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 3,973 shares during the period. Institutional investors and hedge funds own 3.24% of the company’s stock.

About ING Groep

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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