ING Groep (ING) Downgraded by Zacks Investment Research to “Hold”

ING Groep (NYSE:ING) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, February 13th.

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. “

ING has been the subject of several other research reports. ValuEngine raised ING Groep from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. UBS Group reaffirmed a “buy” rating on shares of ING Groep in a research note on Monday, December 11th. Finally, Goldman Sachs Group reissued a “buy” rating on shares of ING Groep in a research report on Wednesday, December 6th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $18.00.

ING Groep (NYSE:ING) opened at $18.18 on Tuesday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market capitalization of $71,275.80, a PE ratio of 12.94, a price-to-earnings-growth ratio of 1.43 and a beta of 1.20. ING Groep has a 52 week low of $13.63 and a 52 week high of $20.58.

Institutional investors and hedge funds have recently modified their holdings of the stock. We Are One Seven LLC purchased a new stake in shares of ING Groep during the 4th quarter valued at $101,000. Zions Bancorporation increased its holdings in ING Groep by 1,021.8% in the 3rd quarter. Zions Bancorporation now owns 7,011 shares of the financial services provider’s stock worth $129,000 after acquiring an additional 6,386 shares during the last quarter. Bank of Nova Scotia Trust Co. purchased a new stake in ING Groep in the 3rd quarter worth about $156,000. Diligent Investors LLC purchased a new stake in ING Groep in the 3rd quarter worth about $190,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in ING Groep in the 3rd quarter worth about $190,000. Institutional investors own 3.15% of the company’s stock.

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ING Groep Company Profile

ING Groep N.V. (ING) is a financial institution. The Company offers banking services. The Company’s segments include Retail Netherlands, which offers current and savings accounts, business lending, mortgages and other consumer lending in the Netherlands; Retail Belgium, which offers products that are similar to those in the Netherlands; Retail Germany, which offers current and savings accounts, mortgages and other customer lending; Retail Other, which offers products that are similar to those in the Netherlands, and Wholesale Banking, which offers wholesale banking activities (a full range of products from cash management to corporate finance), real estate and lease.

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