ING Groep (NYSE:ING) Shares Gap Down to $11.54

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Shares of ING Groep NV (NYSE:ING) gapped down prior to trading on Friday . The stock had previously closed at $11.81, but opened at $11.54. ING Groep shares last traded at $11.29, with a volume of 2,377,247 shares traded.

A number of brokerages have recently weighed in on ING. Barclays set a $18.00 price objective on Summit Materials and gave the stock a “hold” rating in a research report on Friday, June 14th. JPMorgan Chase & Co. set a $69.00 price objective on Helmerich & Payne and gave the stock a “buy” rating in a research report on Wednesday, June 5th. ValuEngine lowered Vereit from a “buy” rating to a “hold” rating in a research report on Friday. Zacks Investment Research lowered Farmland Partners from a “hold” rating to a “sell” rating in a research report on Friday, July 12th. Finally, Royal Bank of Canada raised their target price on Williams-Sonoma to $60.00 and gave the company a “sector perform” rating in a research note on Thursday, March 21st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $12.58.

The stock has a market cap of $44.91 billion, a P/E ratio of 6.88 and a beta of 1.31. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.25. The company’s 50 day moving average is $11.34.

ING Groep (NYSE:ING) last released its earnings results on Thursday, May 2nd. The financial services provider reported $0.33 EPS for the quarter. The company had revenue of $5.20 billion during the quarter. ING Groep had a return on equity of 8.81% and a net margin of 25.28%. As a group, research analysts predict that ING Groep NV will post 1.47 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ING. Enterprise Financial Services Corp lifted its stake in shares of ING Groep by 85.6% in the 1st quarter. Enterprise Financial Services Corp now owns 2,287 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 1,055 shares during the period. JNBA Financial Advisors purchased a new position in ING Groep during the first quarter valued at $32,000. Bessemer Group Inc. purchased a new position in ING Groep during the second quarter valued at $34,000. Carroll Financial Associates Inc. raised its stake in ING Groep by 40.4% during the second quarter. Carroll Financial Associates Inc. now owns 3,780 shares of the financial services provider’s stock valued at $43,000 after buying an additional 1,088 shares during the last quarter. Finally, Zions Bancorporation N.A. purchased a new position in ING Groep during the first quarter valued at $44,000. Institutional investors own 3.48% of the company’s stock.

ING Groep Company Profile (NYSE:ING)

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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