ING Groep (NYSE:ING) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The firm currently has a $20.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price target points to a potential upside of 10.01% from the stock’s current price.

According to Zacks, “ING GROEP-ADR is a global financial institution of Dutch origin offering banking, insurance and asset management to over 50 million private, corporate and institutional clients in 65 countries. ING can fully deliver what today’s clients expect: unlimited access, maximum convenience, immediate and accurate execution, personal advice, tailor-made solutions and competitive rates. “

A number of other equities research analysts have also recently commented on the company. ValuEngine raised ING Groep from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 22nd. UBS reaffirmed a “buy” rating on shares of ING Groep in a research note on Tuesday, September 5th. Goldman Sachs Group raised ING Groep from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 6th. Finally, Deutsche Bank reaffirmed a “buy” rating on shares of ING Groep in a research note on Thursday, October 12th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $17.50.

ING Groep (NYSE ING) traded down $0.07 during mid-day trading on Friday, hitting $18.18. The stock had a trading volume of 2,438,680 shares, compared to its average volume of 3,452,338. The company has a market capitalization of $71,004.34, a P/E ratio of 12.21, a P/E/G ratio of 2.31 and a beta of 1.20. ING Groep has a 12 month low of $13.63 and a 12 month high of $19.01. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.05.

Several institutional investors have recently made changes to their positions in the stock. Wedbush Securities Inc. grew its stake in shares of ING Groep by 0.7% during the second quarter. Wedbush Securities Inc. now owns 17,586 shares of the financial services provider’s stock worth $306,000 after purchasing an additional 117 shares during the period. ETRADE Capital Management LLC grew its stake in shares of ING Groep by 1.0% during the second quarter. ETRADE Capital Management LLC now owns 19,279 shares of the financial services provider’s stock worth $335,000 after purchasing an additional 198 shares during the period. Quadrant Capital Group LLC grew its stake in shares of ING Groep by 5.9% during the second quarter. Quadrant Capital Group LLC now owns 6,989 shares of the financial services provider’s stock worth $107,000 after purchasing an additional 389 shares during the period. Pinnacle Associates Ltd. grew its stake in shares of ING Groep by 1.1% during the second quarter. Pinnacle Associates Ltd. now owns 46,656 shares of the financial services provider’s stock worth $811,000 after purchasing an additional 500 shares during the period. Finally, Financial Counselors Inc. grew its stake in shares of ING Groep by 3.0% during the second quarter. Financial Counselors Inc. now owns 22,396 shares of the financial services provider’s stock worth $389,000 after purchasing an additional 642 shares during the period. 2.97% of the stock is owned by institutional investors and hedge funds.

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ING Groep Company Profile

ING Groep N.V. (ING) is a financial institution. The Company offers banking services. The Company’s segments include Retail Netherlands, which offers current and savings accounts, business lending, mortgages and other consumer lending in the Netherlands; Retail Belgium, which offers products that are similar to those in the Netherlands; Retail Germany, which offers current and savings accounts, mortgages and other customer lending; Retail Other, which offers products that are similar to those in the Netherlands, and Wholesale Banking, which offers wholesale banking activities (a full range of products from cash management to corporate finance), real estate and lease.

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Analyst Recommendations for ING Groep (NYSE:ING)

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