ING Groep (NYSE:ING) Short Interest Up 97.1% in April

ING Groep (NYSE:INGGet Rating) saw a large increase in short interest during the month of April. As of April 30th, there was short interest totalling 4,730,000 shares, an increase of 97.1% from the April 15th total of 2,400,000 shares. Based on an average trading volume of 7,940,000 shares, the short-interest ratio is currently 0.6 days. Currently, 0.1% of the shares of the stock are sold short.

A number of analysts have commented on the stock. JPMorgan Chase & Co. cut their price objective on shares of ING Groep from €15.00 ($15.79) to €12.70 ($13.37) in a report on Monday, March 14th. Berenberg Bank cut their price target on shares of ING Groep from €14.50 ($15.26) to €13.00 ($13.68) in a report on Wednesday, April 20th. Zacks Investment Research downgraded shares of ING Groep from a “hold” rating to a “sell” rating in a report on Tuesday, March 22nd. Deutsche Bank Aktiengesellschaft cut their price target on shares of ING Groep from €15.00 ($15.79) to €13.00 ($13.68) and set a “buy” rating for the company in a report on Wednesday, April 13th. Finally, Royal Bank of Canada cut their price target on shares of ING Groep from €10.50 ($11.05) to €10.00 ($10.53) in a report on Tuesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $13.19.

ING stock traded up $0.52 on Friday, hitting $9.70. 9,920,384 shares of the company were exchanged, compared to its average volume of 6,759,055. ING Groep has a twelve month low of $8.97 and a twelve month high of $15.97. The business’s fifty day moving average is $10.08 and its two-hundred day moving average is $12.82. The stock has a market capitalization of $37.84 billion, a price-to-earnings ratio of 7.58, a price-to-earnings-growth ratio of 0.61 and a beta of 1.76. The company has a debt-to-equity ratio of 1.83, a current ratio of 1.10 and a quick ratio of 1.08.

The firm also recently disclosed a — dividend, which will be paid on Wednesday, May 25th. Stockholders of record on Monday, May 16th will be given a $0.2452 dividend. This represents a dividend yield of 11.6%. The ex-dividend date of this dividend is Friday, May 13th. ING Groep’s payout ratio is currently 57.03%.

Several institutional investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors boosted its stake in ING Groep by 7.9% during the 3rd quarter. Captrust Financial Advisors now owns 9,751 shares of the financial services provider’s stock valued at $141,000 after acquiring an additional 710 shares during the last quarter. JustInvest LLC boosted its stake in ING Groep by 2.4% during the 3rd quarter. JustInvest LLC now owns 30,788 shares of the financial services provider’s stock valued at $446,000 after acquiring an additional 733 shares during the last quarter. Sage Rhino Capital LLC boosted its stake in ING Groep by 5.0% during the 4th quarter. Sage Rhino Capital LLC now owns 16,554 shares of the financial services provider’s stock valued at $230,000 after acquiring an additional 785 shares during the last quarter. Altium Wealth Management LLC boosted its stake in ING Groep by 3.6% during the 4th quarter. Altium Wealth Management LLC now owns 24,687 shares of the financial services provider’s stock valued at $344,000 after acquiring an additional 854 shares during the last quarter. Finally, Shilanski & Associates Inc. boosted its stake in ING Groep by 6.2% during the 4th quarter. Shilanski & Associates Inc. now owns 14,990 shares of the financial services provider’s stock valued at $209,000 after acquiring an additional 877 shares during the last quarter. 9.33% of the stock is owned by institutional investors.

About ING Groep (Get Rating)

ING Groep N.V., a financial institution, provides various banking products and services in the Netherlands, Belgium, Germany, Poland, Rest of Europe, North America, Latin America, Asia, and Australia. It operates in six segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, Wholesale Banking, and Corporate Line Banking.

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