ING Groep (NYSE:ING) Earns Underweight Rating from Analysts at Barclays

Research analysts at Barclays began coverage on shares of ING Groep (NYSE:ING) in a note issued to investors on Friday, The Fly reports. The brokerage set an “underweight” rating on the financial services provider’s stock.

A number of other brokerages have also recently commented on ING. Zacks Investment Research upgraded ING Groep from a “sell” rating to a “strong-buy” rating and set a $14.00 price target for the company in a research report on Thursday, May 9th. JPMorgan Chase & Co. upgraded ING Groep from a “neutral” rating to an “overweight” rating in a research report on Wednesday, June 5th. ValuEngine cut ING Groep from a “sell” rating to a “strong sell” rating in a research report on Tuesday, March 5th. Finally, Royal Bank of Canada upgraded ING Groep from a “sector perform” rating to an “outperform” rating in a research report on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $14.00.

ING stock opened at $11.15 on Friday. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market capitalization of $43.78 billion, a price-to-earnings ratio of 6.80 and a beta of 1.31. ING Groep has a fifty-two week low of $10.21 and a fifty-two week high of $15.36.

ING Groep (NYSE:ING) last issued its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $0.33 EPS for the quarter. The business had revenue of $5.20 billion during the quarter. ING Groep had a return on equity of 8.81% and a net margin of 25.28%. On average, equities analysts predict that ING Groep will post 1.49 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. grew its position in shares of ING Groep by 56.2% during the fourth quarter. Advisors Asset Management Inc. now owns 124,782 shares of the financial services provider’s stock worth $1,330,000 after purchasing an additional 44,908 shares in the last quarter. Creative Planning grew its position in shares of ING Groep by 26.7% during the fourth quarter. Creative Planning now owns 15,732 shares of the financial services provider’s stock worth $168,000 after purchasing an additional 3,312 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of ING Groep by 40.0% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 19,032 shares of the financial services provider’s stock worth $203,000 after purchasing an additional 5,442 shares in the last quarter. Stevens Capital Management LP purchased a new stake in shares of ING Groep during the fourth quarter worth about $531,000. Finally, Comerica Bank grew its position in shares of ING Groep by 1.7% during the fourth quarter. Comerica Bank now owns 239,918 shares of the financial services provider’s stock worth $2,886,000 after purchasing an additional 4,083 shares in the last quarter. Institutional investors and hedge funds own 3.48% of the company’s stock.

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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Analyst Recommendations for ING Groep (NYSE:ING)

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