ING Groep (ING) Lifted to Outperform at Royal Bank of Canada

Royal Bank of Canada upgraded shares of ING Groep (NYSE:ING) from a sector perform rating to an outperform rating in a research note released on Thursday, March 21st, BenzingaRatingsTable reports.

Other equities analysts have also recently issued reports about the stock. Societe Generale raised shares of ING Groep from a hold rating to a buy rating in a research report on Wednesday, January 16th. Goldman Sachs Group reissued a buy rating on shares of ING Groep in a research report on Monday, December 31st. Zacks Investment Research raised shares of ING Groep from a sell rating to a hold rating in a research report on Thursday, December 20th. Credit Suisse Group upgraded shares of ING Groep from an underperform rating to a neutral rating in a research note on Tuesday, January 15th. Finally, ValuEngine upgraded shares of ING Groep from a strong sell rating to a sell rating in a research note on Wednesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. ING Groep presently has an average rating of Hold.

ING Groep stock traded up $0.05 during trading on Thursday, reaching $13.50. 2,662,200 shares of the company’s stock were exchanged, compared to its average volume of 3,176,454. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.40. ING Groep has a 52-week low of $10.21 and a 52-week high of $17.73. The stock has a market cap of $52.42 billion, a price-to-earnings ratio of 8.23 and a beta of 1.21.

ING Groep (NYSE:ING) last posted its quarterly earnings data on Wednesday, February 6th. The financial services provider reported $0.37 earnings per share for the quarter. The company had revenue of $5.14 billion during the quarter. ING Groep had a net margin of 26.05% and a return on equity of 9.19%. Analysts forecast that ING Groep will post 1.56 earnings per share for the current year.

The business also recently announced a semiannual dividend, which will be paid on Thursday, May 9th. Stockholders of record on Friday, April 26th will be paid a $0.4974 dividend. The ex-dividend date is Thursday, April 25th. This represents a dividend yield of 8.31%. ING Groep’s dividend payout ratio (DPR) is presently 26.83%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ING. Lindbrook Capital LLC acquired a new stake in ING Groep during the fourth quarter worth about $43,000. Legacy Bridge LLC acquired a new stake in shares of ING Groep in the fourth quarter valued at approximately $69,000. Shine Investment Advisory Services Inc. increased its stake in shares of ING Groep by 20.5% in the fourth quarter. Shine Investment Advisory Services Inc. now owns 8,503 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 1,448 shares during the period. Freestone Capital Holdings LLC acquired a new stake in shares of ING Groep in the fourth quarter valued at approximately $114,000. Finally, Belpointe Asset Management LLC acquired a new stake in shares of ING Groep in the third quarter valued at approximately $116,000. Hedge funds and other institutional investors own 3.33% of the company’s stock.

ING Groep Company Profile

ING Groep N.V., a financial institution, provides various banking products and services to individuals, small and medium-sized enterprises, and mid-corporates. It operates in Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking segments. The company accepts various deposits, such as current and savings accounts; and offers business lending products, as well as consumer lending products, such as residential mortgage loans, term loans, and revolver and personal loans.

Further Reading: Momentum Investing

Analyst Recommendations for ING Groep (NYSE:ING)

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