M&T Bank Corp Acquires 1,350 Shares of ING Group, N.V. (NYSE:ING)

M&T Bank Corp increased its position in ING Group, N.V. (NYSE:ING) by 4.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,273 shares of the financial services provider’s stock after purchasing an additional 1,350 shares during the quarter. M&T Bank Corp’s holdings in ING Group were worth $671,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Legacy Advisors LLC purchased a new position in ING Group in the 1st quarter worth $28,000. Redwood Investments LLC purchased a new stake in ING Group in the fourth quarter valued at approximately $41,000. Olde Wealth Management LLC acquired a new position in shares of ING Group in the first quarter worth $55,000. Hexagon Capital Partners LLC boosted its stake in ING Group by 21.4% in the first quarter. Hexagon Capital Partners LLC now owns 5,085 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 897 shares in the last quarter. Finally, TD Private Client Wealth LLC grew its holdings in shares of ING Group by 83.3% during the first quarter. TD Private Client Wealth LLC now owns 5,957 shares of the financial services provider’s stock worth $117,000 after buying an additional 2,707 shares during the last quarter. Institutional investors own 4.49% of the company’s stock.

ING Group Stock Down 0.7%

Shares of ING opened at $22.45 on Wednesday. The firm has a market cap of $78.52 billion, a PE ratio of 10.64, a price-to-earnings-growth ratio of 1.82 and a beta of 1.11. The company’s fifty day moving average is $21.41 and its two-hundred day moving average is $19.15. ING Group, N.V. has a fifty-two week low of $15.09 and a fifty-two week high of $23.25. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.86.

ING Group (NYSE:ING) last announced its quarterly earnings results on Friday, May 2nd. The financial services provider reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). The company had revenue of $6.36 billion during the quarter, compared to analyst estimates of $5.74 billion. ING Group had a net margin of 27.70% and a return on equity of 11.68%. Analysts forecast that ING Group, N.V. will post 2.14 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Barclays raised shares of ING Group from an “equal weight” rating to an “overweight” rating in a report on Tuesday. The Goldman Sachs Group upgraded shares of ING Group from a “neutral” rating to a “buy” rating in a research report on Thursday, March 27th. Finally, Cfra Research upgraded shares of ING Group from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

ING Group Profile

ING Groep N.V. provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally. It operates through five segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking. The company accepts current and savings accounts.