ING Groep’s (ING) Overweight Rating Reaffirmed at JPMorgan Chase & Co.


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JPMorgan Chase & Co. reaffirmed their overweight rating on shares of ING Groep (NYSE:ING) in a research report released on Tuesday, The Fly reports.

Other equities research analysts have also recently issued reports about the company. AlphaValue upgraded ING Groep to a sell rating in a research note on Friday, February 19th. Jefferies Financial Group restated a buy rating on shares of ING Groep in a research note on Wednesday, December 16th. Berenberg Bank restated a buy rating on shares of ING Groep in a research note on Monday, March 1st. Deutsche Bank Aktiengesellschaft restated a buy rating on shares of ING Groep in a research note on Monday. Finally, Barclays restated an equal weight rating on shares of ING Groep in a research note on Wednesday, February 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $9.50.

Shares of NYSE ING opened at $12.26 on Tuesday. The business has a fifty day moving average price of $11.96 and a 200 day moving average price of $9.67. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.08 and a quick ratio of 1.08. ING Groep has a 1-year low of $4.88 and a 1-year high of $12.76. The stock has a market capitalization of $47.77 billion, a P/E ratio of 15.92 and a beta of 1.91.

ING Groep (NYSE:ING) last released its quarterly earnings results on Friday, February 12th. The financial services provider reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.08. ING Groep had a return on equity of 4.92% and a net margin of 14.79%. The company had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.96 billion. As a group, equities research analysts anticipate that ING Groep will post 0.72 earnings per share for the current fiscal year.

The business also recently announced a semi-annual dividend, which was paid on Wednesday, March 3rd. Investors of record on Wednesday, February 24th were issued a dividend of $0.1236 per share. The ex-dividend date of this dividend was Tuesday, February 23rd. ING Groep’s dividend payout ratio (DPR) is 8.70%.

A number of institutional investors have recently bought and sold shares of ING. Truist Financial Corp grew its holdings in ING Groep by 6.8% in the third quarter. Truist Financial Corp now owns 173,766 shares of the financial services provider’s stock valued at $1,231,000 after purchasing an additional 11,066 shares during the period. Cubist Systematic Strategies LLC grew its holdings in ING Groep by 127.2% in the third quarter. Cubist Systematic Strategies LLC now owns 101,558 shares of the financial services provider’s stock valued at $719,000 after purchasing an additional 56,853 shares during the period. Paloma Partners Management Co acquired a new stake in ING Groep in the third quarter valued at approximately $983,000. Chiron Capital Management LLC acquired a new stake in ING Groep in the third quarter valued at approximately $113,000. Finally, Jeppson Wealth Management LLC acquired a new stake in ING Groep in the third quarter valued at approximately $160,000. 3.27% of the stock is currently owned by hedge funds and other institutional investors.

About ING Groep

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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