ING Groep (ING) Shares Gap Up to $11.60

Shares of ING Groep NV (NYSE:ING) gapped up prior to trading on Friday . The stock had previously closed at $11.32, but opened at $11.60. ING Groep shares last traded at $11.94, with a volume of 2735402 shares.

A number of analysts have recently weighed in on ING shares. Zacks Investment Research upgraded shares of ING Groep from a “sell” rating to a “hold” rating in a research note on Tuesday, September 25th. Royal Bank of Canada restated a “neutral” rating on shares of ING Groep in a research note on Thursday, November 1st. Morgan Stanley upgraded shares of ING Groep from an “underweight” rating to an “equal weight” rating in a research note on Friday, November 2nd. ValuEngine upgraded shares of ING Groep from a “strong sell” rating to a “sell” rating in a research note on Friday, November 2nd. Finally, Goldman Sachs Group reiterated a “buy” rating on shares of ING Groep in a research note on Wednesday, December 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $21.00.

The company has a market cap of $45.69 billion, a P/E ratio of 8.29 and a beta of 1.20. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.29.

ING Groep (NYSE:ING) last released its earnings results on Thursday, November 1st. The financial services provider reported $0.23 EPS for the quarter. The firm had revenue of $5.40 billion during the quarter. ING Groep had a net margin of 24.83% and a return on equity of 9.05%. As a group, equities research analysts expect that ING Groep NV will post 1.5 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in the stock. Belpointe Asset Management LLC acquired a new position in shares of ING Groep in the 3rd quarter valued at $116,000. Hilltop Holdings Inc. acquired a new position in shares of ING Groep in the 3rd quarter valued at $130,000. Bailard Inc. acquired a new position in shares of ING Groep in the 3rd quarter valued at $133,000. KCS Wealth Advisory raised its stake in shares of ING Groep by 11.0% in the 4th quarter. KCS Wealth Advisory now owns 12,706 shares of the financial services provider’s stock valued at $135,000 after buying an additional 1,260 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in shares of ING Groep in the 3rd quarter valued at $136,000. Hedge funds and other institutional investors own 3.44% of the company’s stock.

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About ING Groep (NYSE:ING)

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.

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