ING Groep NV (ING) Upgraded by ValuEngine to Strong-Buy

ValuEngine upgraded shares of ING Groep NV (NYSE:ING) from a buy rating to a strong-buy rating in a research note issued to investors on Tuesday morning.

Other equities analysts have also recently issued reports about the company. JPMorgan Chase & Co. reaffirmed a buy rating on shares of ING Groep NV in a report on Monday, February 13th. Zacks Investment Research cut ING Groep NV from a hold rating to a sell rating in a report on Wednesday, May 3rd. Deutsche Bank AG reissued a buy rating on shares of ING Groep NV in a report on Tuesday, May 2nd. Jefferies Group LLC started coverage on ING Groep NV in a report on Wednesday, April 19th. They issued a buy rating for the company. Finally, HSBC Holdings plc cut ING Groep NV from a buy rating to a hold rating and set a $15.00 price target for the company. in a report on Wednesday, May 31st. Seven analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $17.00.

Shares of ING Groep NV (NYSE:ING) traded up 2.46% on Tuesday, hitting $17.06. The stock had a trading volume of 8,260,873 shares. The firm’s 50-day moving average is $16.58 and its 200-day moving average is $15.04. ING Groep NV has a one year low of $9.26 and a one year high of $17.35. The company has a market cap of $66.23 billion, a price-to-earnings ratio of 12.25 and a beta of 1.38.

ING Groep NV (NYSE:ING) last posted its quarterly earnings results on Wednesday, May 10th. The financial services provider reported $0.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.02. ING Groep NV had a return on equity of 9.12% and a net margin of 27.21%. The firm had revenue of $4.68 billion for the quarter. On average, analysts expect that ING Groep NV will post $0.90 EPS for the current fiscal year.

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A number of institutional investors have recently added to or reduced their stakes in the stock. First Republic Investment Management Inc. acquired a new position in ING Groep NV during the fourth quarter valued at approximately $837,000. Envestnet Asset Management Inc. raised its position in ING Groep NV by 24.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 493,303 shares of the financial services provider’s stock valued at $6,957,000 after buying an additional 97,520 shares during the last quarter. Tyers Asset Management LLC acquired a new position in ING Groep NV during the fourth quarter valued at approximately $206,000. First Allied Advisory Services Inc. acquired a new position in ING Groep NV during the fourth quarter valued at approximately $169,000. Finally, Pacad Investment Ltd. raised its position in ING Groep NV by 394.3% in the fourth quarter. Pacad Investment Ltd. now owns 43,500 shares of the financial services provider’s stock valued at $613,000 after buying an additional 34,700 shares during the last quarter. Hedge funds and other institutional investors own 1.82% of the company’s stock.

ING Groep NV Company Profile

ING Groep N.V. (ING) is a financial institution. The Company offers banking services. The Company’s segments include Retail Netherlands, which offers current and savings accounts, business lending, mortgages and other consumer lending in the Netherlands; Retail Belgium, which offers products that are similar to those in the Netherlands; Retail Germany, which offers current and savings accounts, mortgages and other customer lending; Retail Other, which offers products that are similar to those in the Netherlands, and Wholesale Banking, which offers wholesale banking activities (a full range of products from cash management to corporate finance), real estate and lease.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “ING”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

To view ValuEngine’s full report, visit ValuEngine’s official website.

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