ING Groep Plans — Dividend of $0.25 (NYSE:ING)

ING Groep (NYSE:INGGet Rating) declared a — dividend on Monday, May 9th, Wall Street Journal reports. Shareholders of record on Monday, May 16th will be given a dividend of 0.2452 per share by the financial services provider on Wednesday, May 25th. This represents a yield of 11.6%. The ex-dividend date is Friday, May 13th.

ING Groep has a payout ratio of 64.5% meaning its dividend is sufficiently covered by earnings. Analysts expect ING Groep to earn $1.47 per share next year, which means the company should continue to be able to cover its $0.91 annual dividend with an expected future payout ratio of 61.9%.

NYSE ING traded up $0.01 during trading hours on Monday, hitting $9.16. The company had a trading volume of 8,840,483 shares, compared to its average volume of 7,055,415. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.08 and a current ratio of 1.08. ING Groep has a 1-year low of $8.97 and a 1-year high of $15.97. The company has a market cap of $35.73 billion, a PE ratio of 7.16, a price-to-earnings-growth ratio of 0.67 and a beta of 1.76. The business has a 50 day moving average of $10.16 and a 200-day moving average of $13.00.

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 consensus estimate of $0.33 by ($0.03). ING Groep had a net margin of 25.83% and a return on equity of 8.68%. The company had revenue of $5.47 billion during the quarter, compared to analyst estimates of $4.94 billion. Sell-side analysts expect that ING Groep will post 1.02 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Parametric Portfolio Associates LLC grew its position in ING Groep by 0.7% during the fourth quarter. Parametric Portfolio Associates LLC now owns 5,118,783 shares of the financial services provider’s stock worth $71,253,000 after buying an additional 37,132 shares during the period. Wells Fargo & Company MN lifted its holdings in ING Groep by 20.8% in the 4th quarter. Wells Fargo & Company MN now owns 2,360,686 shares of the financial services provider’s stock worth $32,861,000 after buying an additional 406,392 shares in the last quarter. Morgan Stanley grew its position in shares of ING Groep by 47.7% during the 2nd quarter. Morgan Stanley now owns 937,919 shares of the financial services provider’s stock valued at $12,419,000 after buying an additional 303,014 shares during the last quarter. Stifel Financial Corp grew its position in ING Groep by 3.2% in the 4th quarter. Stifel Financial Corp now owns 674,353 shares of the financial services provider’s stock worth $9,387,000 after purchasing an additional 21,163 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of ING Groep by 29.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 164,449 shares of the financial services provider’s stock worth $2,383,000 after acquiring an additional 36,932 shares during the period. Institutional investors own 9.33% of the company’s stock.

A number of equities research analysts have recently commented on ING shares. UBS Group upped their target price on shares of ING Groep from €15.30 ($16.11) to €15.90 ($16.74) and gave the company a “buy” rating in a report on Monday. Deutsche Bank Aktiengesellschaft reduced their target price 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. Royal Bank of Canada reduced their target price on shares of ING Groep from €15.00 ($15.79) to €14.50 ($15.26) in a report on Friday, February 4th. JPMorgan Chase & Co. reduced their target price on shares of ING Groep from €15.00 ($15.79) to €12.70 ($13.37) in a report on Monday, March 14th. Finally, Morgan Stanley reduced their target price on shares of ING Groep from €15.60 ($16.42) to €13.00 ($13.68) in a report on Thursday, March 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $13.75.

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.

See Also

Dividend History for ING Groep (NYSE:ING)

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