ING Groep (NYSE:ING) Upgraded by Barclays to Equal Weight

Barclays upgraded shares of ING Groep (NYSE:ING) from an underweight rating to an equal weight rating in a research note released on Wednesday, Briefing.com Automated Import reports.

Other equities research analysts have also recently issued reports about the stock. BNP Paribas cut shares of ING Groep from an outperform rating to a neutral rating in a research report on Friday, August 2nd. Zacks Investment Research cut ING Groep from a buy rating to a hold rating in a research note on Wednesday, October 16th. UBS Group reissued a buy rating on shares of ING Groep in a research note on Tuesday, October 15th. Goldman Sachs Group reissued a buy rating on shares of ING Groep in a research note on Tuesday, September 10th. Finally, ValuEngine raised ING Groep from a strong sell rating to a sell rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $11.08.

ING Groep stock traded down $0.07 during midday trading on Wednesday, hitting $11.49. The company’s stock had a trading volume of 2,200,413 shares, compared to its average volume of 3,463,564. The company has a quick ratio of 1.13, a current ratio of 0.96 and a debt-to-equity ratio of 2.34. The stock’s 50-day moving average price is $10.59 and its 200-day moving average price is $11.13. ING Groep has a 12 month low of $9.22 and a 12 month high of $13.72. The company has a market capitalization of $44.88 billion, a PE ratio of 7.01, a price-to-earnings-growth ratio of 4.06 and a beta of 1.34.

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

A number of institutional investors and hedge funds have recently modified their holdings of the stock. KCS Wealth Advisory increased its stake in ING Groep by 8.2% in the 2nd quarter. KCS Wealth Advisory now owns 13,116 shares of the financial services provider’s stock worth $152,000 after purchasing an additional 994 shares in the last quarter. Bellecapital International Ltd. grew its stake in ING Groep by 7.1% during the 3rd quarter. Bellecapital International Ltd. now owns 16,225 shares of the financial services provider’s stock valued at $170,000 after acquiring an additional 1,075 shares in the last quarter. Carroll Financial Associates Inc. grew its stake in ING Groep by 40.4% during the 2nd quarter. Carroll Financial Associates Inc. now owns 3,780 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 1,088 shares in the last quarter. Confluence Investment Management LLC grew its stake in ING Groep by 2.9% during the 2nd quarter. Confluence Investment Management LLC now owns 45,424 shares of the financial services provider’s stock valued at $526,000 after acquiring an additional 1,268 shares in the last quarter. Finally, Lindbrook Capital LLC grew its stake in ING Groep by 35.5% during the 2nd quarter. Lindbrook Capital LLC now owns 5,536 shares of the financial services provider’s stock valued at $64,000 after acquiring an additional 1,450 shares in the last quarter. 3.24% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for ING Groep (NYSE:ING)

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