ING Groep (NYSE:ING) Short Interest Up 6.7% in June

ING Groep (NYSE:ING) was the target of a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 4,610,000 shares, an increase of 6.7% from the May 31st total of 4,320,000 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average trading volume of 2,510,000 shares, the short-interest ratio is currently 1.8 days.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ING. LPL Financial LLC grew its position in shares of ING Groep by 24.8% in the third quarter. LPL Financial LLC now owns 274,444 shares of the financial services provider’s stock valued at $3,617,000 after purchasing an additional 54,552 shares in the last quarter. Qube Research & Technologies Ltd increased its position in shares of ING Groep by 101.2% during the third quarter. Qube Research & Technologies Ltd now owns 384,667 shares of the financial services provider’s stock valued at $5,070,000 after buying an additional 193,489 shares during the period. Axxcess Wealth Management LLC purchased a new stake in shares of ING Groep in the third quarter worth about $294,000. Scotia Capital Inc. lifted its holdings in shares of ING Groep by 1.6% in the third quarter. Scotia Capital Inc. now owns 224,941 shares of the financial services provider’s stock worth $2,965,000 after buying an additional 3,524 shares in the last quarter. Finally, Ramirez Asset Management Inc. bought a new position in shares of ING Groep in the third quarter valued at approximately $1,866,000. 4.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Barclays upgraded shares of ING Groep from an “equal weight” rating to an “overweight” rating in a research note on Friday, June 7th.

ING Groep Stock Performance

Shares of NYSE ING traded up $0.03 during trading on Tuesday, reaching $17.61. 1,792,808 shares of the stock traded hands, compared to its average volume of 2,752,194. The company has a 50-day moving average of $17.18 and a 200-day moving average of $15.61. ING Groep has a 52-week low of $12.44 and a 52-week high of $18.04. The stock has a market capitalization of $61.60 billion, a P/E ratio of 7.78 and a beta of 1.54. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.12 and a quick ratio of 1.12.

ING Groep (NYSE:ING) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $0.52 EPS for the quarter. The business had revenue of $6.06 billion for the quarter. ING Groep had a net margin of 32.20% and a return on equity of 13.22%. Analysts forecast that ING Groep will post 2.01 EPS for the current fiscal year.

About ING Groep

ING Groep N.V. provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally. It operates through five segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking. The company accepts current and savings accounts.