ING Groep (NYSE:ING) Short Interest Update

ING Groep (NYSE:INGGet Rating) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 2,130,000 shares, a growth of 21.7% from the March 15th total of 1,750,000 shares. Based on an average daily trading volume, of 7,180,000 shares, the short-interest ratio is presently 0.3 days. Currently, 0.1% of the shares of the company are short sold.

ING stock traded up $0.12 during trading on Tuesday, reaching $10.35. 4,861,506 shares of the company were exchanged, compared to its average volume of 6,970,438. The company has a 50-day moving average of $11.36 and a two-hundred day moving average of $13.48. The company has a market capitalization of $40.37 billion, a price-to-earnings ratio of 6.96, a P/E/G ratio of 0.75 and a beta of 1.85. ING Groep has a twelve month low of $8.97 and a twelve month high of $15.97. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.08 and a quick ratio of 1.08.

ING Groep (NYSE:INGGet Rating) last released its quarterly earnings data on Thursday, February 3rd. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.03). The company had revenue of $5.47 billion for the quarter, compared to analyst estimates of $4.94 billion. ING Groep had a return on equity of 8.68% and a net margin of 25.83%. On average, analysts forecast that ING Groep will post 1.02 EPS for the current year.

The firm also recently declared a semi-annual dividend, which will be paid on Monday, May 16th. Shareholders of record on Thursday, April 28th will be given a $0.4525 dividend. This is a boost from ING Groep’s previous semi-annual dividend of $0.12. This represents a yield of 8.2%. The ex-dividend date is Wednesday, April 27th. ING Groep’s dividend payout ratio is 31.97%.

ING has been the subject of a number of recent research reports. Royal Bank of Canada cut their price objective on shares of ING Groep from €15.00 ($16.13) to €14.50 ($15.59) in a report on Friday, February 4th. Morgan Stanley cut their price objective on shares of ING Groep from €15.60 ($16.77) to €13.00 ($13.98) in a report on Thursday, March 24th. UBS Group upped their price target on shares of ING Groep from €14.40 ($15.48) to €15.30 ($16.45) in a report on Wednesday, April 13th. StockNews.com initiated coverage on shares of ING Groep in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, JPMorgan Chase & Co. cut their price target on shares of ING Groep from €15.00 ($16.13) to €12.70 ($13.66) in a report on Monday, March 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $13.77.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Ellevest Inc. increased its position in ING Groep by 17.2% in the 1st quarter. Ellevest Inc. now owns 37,530 shares of the financial services provider’s stock valued at $391,000 after acquiring an additional 5,505 shares during the period. Farmers & Merchants Investments Inc. increased its position in ING Groep by 80.6% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 3,199 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 1,428 shares during the period. Resonant Capital Advisors LLC acquired a new position in ING Groep in the 1st quarter valued at approximately $123,000. CAPROCK Group Inc. increased its position in ING Groep by 2.3% in the 1st quarter. CAPROCK Group Inc. now owns 68,485 shares of the financial services provider’s stock valued at $714,000 after acquiring an additional 1,511 shares during the period. Finally, Veriti Management LLC increased its position in ING Groep by 10.0% in the 1st quarter. Veriti Management LLC now owns 36,681 shares of the financial services provider’s stock valued at $383,000 after acquiring an additional 3,345 shares during the period. Hedge funds and other institutional investors own 3.78% of the company’s stock.

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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