ING Groep (ING) Shares Gap Up to $12.75

Shares of ING Groep NV (NYSE:ING) gapped up prior to trading on Friday . The stock had previously closed at $12.82, but opened at $12.75. ING Groep shares last traded at $12.81, with a volume of 189907 shares trading hands.

ING has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of ING Groep from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th. JPMorgan Chase & Co. cut shares of ING Groep from an “overweight” rating to a “neutral” rating in a research report on Monday, September 3rd. Morgan Stanley upgraded shares of ING Groep from an “underweight” rating to an “equal weight” rating in a research report on Friday. Royal Bank of Canada restated a “neutral” rating on shares of ING Groep in a research report on Thursday. Finally, ValuEngine cut shares of ING Groep from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. ING Groep has a consensus rating of “Hold” and an average target price of $21.00.

The firm has a market capitalization of $45.77 billion, a PE ratio of 8.96 and a beta of 1.27. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.29.

ING Groep (NYSE:ING) last released its earnings results on Thursday, August 2nd. The financial services provider reported $0.44 earnings per share (EPS) for the quarter. The firm had revenue of $5.35 billion during the quarter, compared to analysts’ expectations of $5.06 billion. ING Groep had a return on equity of 10.28% and a net margin of 28.47%. As a group, equities analysts expect that ING Groep NV will post 1.5 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the business. Cornerstone Wealth Management LLC bought a new position in ING Groep during the 2nd quarter worth about $627,000. FCA Corp TX bought a new position in ING Groep during the 2nd quarter worth about $143,000. Russell Investments Group Ltd. bought a new position in ING Groep during the 3rd quarter worth about $136,000. Quantum Capital Management bought a new position in ING Groep during the 2nd quarter worth about $166,000. Finally, HPM Partners LLC bought a new position in ING Groep during the 2nd quarter worth about $208,000. Hedge funds and other institutional investors own 3.51% of the company’s stock.

ING Groep Company Profile (NYSE:ING)

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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