ING Groep (NYSE:ING) Downgraded by BNP Paribas

BNP Paribas lowered shares of ING Groep (NYSE:ING) from an outperform rating to a neutral rating in a research note published on Friday morning, Briefing.com Automated Import reports.

ING has been the subject of a number of other research reports. Barclays initiated coverage on shares of ING Groep in a report on Friday, June 14th. They set an underweight rating and a $11.15 price target for the company. JPMorgan Chase & Co. raised shares of ING Groep from a neutral rating to an overweight rating in a report on Wednesday, June 5th. ValuEngine raised shares of ING Groep from a strong sell rating to a sell rating in a report on Thursday. Finally, Zacks Investment Research raised shares of ING Groep from a sell rating to a hold rating in a report on Thursday, July 25th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. ING Groep has a consensus rating of Hold and a consensus target price of $12.58.

NYSE ING traded down $0.27 during trading on Friday, reaching $10.03. The company’s stock had a trading volume of 253,764 shares, compared to its average volume of 2,486,107. The company has a 50 day moving average of $11.39. ING Groep has a 12 month low of $10.21 and a 12 month high of $14.97. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market cap of $39.31 billion, a price-to-earnings ratio of 6.14 and a beta of 1.29.

ING Groep (NYSE:ING) last issued its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $0.33 earnings per share for the quarter. ING Groep had a net margin of 24.99% and a return on equity of 8.69%. The company had revenue of $5.20 billion during the quarter. As a group, research analysts anticipate that ING Groep will post 1.47 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the company. Wells Fargo & Company MN boosted its stake in ING Groep by 4.7% during the first quarter. Wells Fargo & Company MN now owns 3,231,082 shares of the financial services provider’s stock worth $39,225,000 after acquiring an additional 145,097 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in ING Groep by 13.5% during the first quarter. Parametric Portfolio Associates LLC now owns 3,218,184 shares of the financial services provider’s stock worth $39,069,000 after acquiring an additional 382,189 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in ING Groep by 360.4% during the first quarter. JPMorgan Chase & Co. now owns 2,388,171 shares of the financial services provider’s stock worth $28,993,000 after acquiring an additional 1,869,498 shares in the last quarter. Deutsche Bank AG boosted its stake in ING Groep by 577.2% during the fourth quarter. Deutsche Bank AG now owns 1,834,364 shares of the financial services provider’s stock worth $19,554,000 after acquiring an additional 1,563,502 shares in the last quarter. Finally, Todd Asset Management LLC boosted its stake in ING Groep by 2.6% during the first quarter. Todd Asset Management LLC now owns 1,383,048 shares of the financial services provider’s stock worth $16,790,000 after acquiring an additional 35,475 shares in the last quarter. 3.49% of the stock is currently owned by institutional investors.

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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