ING Groep (NYSE:ING) Shares Gap Up – What’s Next?

ING Groep (NYSE:ING) gapped up prior to trading on Thursday . The stock had previously closed at $19.46, but opened at $20.06. ING Groep shares last traded at $20.20, with a volume of 694,177 shares.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley lowered ING Groep from an “overweight” rating to an “equal weight” rating in a report on Tuesday, November 26th.

ING Groep Price Performance

The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market capitalization of $70.26 billion, a PE ratio of 9.39, a price-to-earnings-growth ratio of 6.42 and a beta of 1.44. The business’s 50-day moving average price is $16.64 and its 200 day moving average price is $16.78.

ING Groep (NYSE:ING) last issued its quarterly earnings results on Thursday, February 6th. The financial services provider reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). ING Groep had a return on equity of 11.81% and a net margin of 28.30%. Research analysts forecast that ING Groep will post 2.14 earnings per share for the current year.

ING Groep Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Thursday, January 23rd. Stockholders of record on Monday, January 13th were paid a $0.1667 dividend. This represents a dividend yield of 6.4%. The ex-dividend date was Monday, January 13th. ING Groep’s dividend payout ratio (DPR) is presently 29.91%.

Institutional Investors Weigh In On ING Groep

Large investors have recently added to or reduced their stakes in the company. Roxbury Financial LLC bought a new position in shares of ING Groep in the 4th quarter worth approximately $25,000. Brooklyn Investment Group grew its holdings in ING Groep by 184.8% in the fourth quarter. Brooklyn Investment Group now owns 1,860 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 1,207 shares during the period. Redwood Investments LLC bought a new position in shares of ING Groep during the fourth quarter valued at approximately $41,000. Versant Capital Management Inc purchased a new position in shares of ING Groep during the fourth quarter valued at approximately $45,000. Finally, IFP Advisors Inc grew its stake in shares of ING Groep by 25.1% in the 4th quarter. IFP Advisors Inc now owns 3,095 shares of the financial services provider’s stock worth $48,000 after buying an additional 621 shares during the last quarter. Institutional investors own 4.49% of the company’s stock.

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.