ING Groep (NYSE:ING) Announces Quarterly Earnings Results

ING Groep (NYSE:ING) issued its quarterly earnings results on Thursday. The financial services provider reported $0.58 earnings per share for the quarter, Zacks reports. ING Groep had a net margin of 32.20% and a return on equity of 13.22%. The company had revenue of $6.15 billion during the quarter. During the same period in the prior year, the company posted $0.65 earnings per share.

ING Groep Price Performance

ING stock traded down $0.13 during trading on Friday, hitting $17.09. 3,013,184 shares of the stock traded hands, compared to its average volume of 2,597,610. ING Groep has a one year low of $12.44 and a one year high of $18.66. The stock has a market cap of $59.78 billion, a price-to-earnings ratio of 7.55 and a beta of 1.54. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.68. The company has a 50 day simple moving average of $17.68 and a 200 day simple moving average of $16.14.

ING Groep Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, August 19th. Stockholders of record on Thursday, August 8th will be given a dividend of $0.8143 per share. This is a positive change from ING Groep’s previous semi-annual dividend of $0.70. This represents a dividend yield of 5.9%. The ex-dividend date of this dividend is Thursday, August 8th. ING Groep’s payout ratio is 61.06%.

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.

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.