ING Groep (NYSE:ING – Get Free Report) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 2,610,000 shares, a decline of 38.3% from the August 15th total of 4,230,000 shares. Based on an average trading volume of 2,470,000 shares, the short-interest ratio is currently 1.1 days. Currently, 0.1% of the shares of the stock are sold short.
ING Groep Trading Down 0.7 %
Shares of ING Groep stock traded down $0.10 during trading hours on Friday, hitting $13.88. The company’s stock had a trading volume of 1,729,710 shares, compared to its average volume of 3,425,693. ING Groep has a twelve month low of $8.14 and a twelve month high of $14.99. The firm has a fifty day moving average of $14.26 and a 200-day moving average of $13.29. The stock has a market cap of $51.72 billion, a price-to-earnings ratio of 8.21, a P/E/G ratio of 0.15 and a beta of 1.59. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.09 and a current ratio of 0.94.
ING Groep (NYSE:ING – Get Free Report) last announced its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.65 EPS for the quarter, beating the consensus estimate of $0.55 by $0.10. ING Groep had a return on equity of 10.32% and a net margin of 28.40%. The business had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.19 billion. Research analysts forecast that ING Groep will post 2.3 EPS for the current year.
ING Groep Increases Dividend
The firm also recently declared a semi-annual dividend, which was paid on Monday, August 21st. Stockholders of record on Monday, August 14th were paid a $0.4267 dividend. This represents a dividend yield of 5.2%. The ex-dividend date of this dividend was Friday, August 11th. This is a positive change from ING Groep’s previous semi-annual dividend of $0.41. ING Groep’s dividend payout ratio is 38.46%.
Hedge Funds Weigh In On ING Groep
Several large investors have recently modified their holdings of the business. Brown Brothers Harriman & Co. raised its holdings in shares of ING Groep by 143.3% in the 1st quarter. Brown Brothers Harriman & Co. now owns 2,530 shares of the financial services provider’s stock valued at $30,000 after buying an additional 1,490 shares during the period. Zions Bancorporation N.A. raised its holdings in shares of ING Groep by 48.4% in the 4th quarter. Zions Bancorporation N.A. now owns 2,873 shares of the financial services provider’s stock valued at $35,000 after buying an additional 937 shares during the period. Ameritas Advisory Services LLC purchased a new stake in shares of ING Groep in the 1st quarter valued at $41,000. Smithfield Trust Co purchased a new stake in shares of ING Groep in the 1st quarter valued at $42,000. Finally, BOKF NA purchased a new stake in shares of ING Groep in the 1st quarter valued at $52,000. Institutional investors and hedge funds own 4.41% of the company’s stock.
Analyst Ratings Changes
Separately, StockNews.com initiated coverage on ING Groep in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $14.39.
ING Groep Company Profile
ING Groep N.V., a financial institution, provides various banking products and services in the Netherlands, Belgium, 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.