Barclays Initiates Coverage on ING Groep (NYSE:ING)

Investment analysts at Barclays assumed coverage on shares of ING Groep (NYSE:ING) in a report released on Friday, The Fly reports. The firm set an “underweight” rating on the financial services provider’s stock.

Other research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of ING Groep from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 4th. Royal Bank of Canada upgraded shares of ING Groep from a “sector perform” rating to an “outperform” rating in a report on Thursday, March 21st. JPMorgan Chase & Co. upgraded shares of ING Groep from a “neutral” rating to an “overweight” rating in a report on Wednesday, June 5th. Finally, ValuEngine upgraded shares of ING Groep from a “strong sell” rating to a “sell” rating in a report on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $14.00.

Shares of NYSE:ING opened at $11.15 on Friday. The firm has a market cap of $43.78 billion, a PE ratio of 6.80 and a beta of 1.31. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.13 and a quick ratio of 1.13. ING Groep has a 52-week low of $10.21 and a 52-week high of $15.36.

ING Groep (NYSE:ING) last announced its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $0.33 earnings per share (EPS) for the quarter. The company had revenue of $5.20 billion during the quarter. ING Groep had a net margin of 25.28% and a return on equity of 8.81%. On average, sell-side analysts anticipate that ING Groep will post 1.49 EPS for the current year.

Several large investors have recently made changes to their positions in the company. Enterprise Financial Services Corp grew its stake in shares of ING Groep by 85.6% in the first quarter. Enterprise Financial Services Corp now owns 2,287 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 1,055 shares during the last quarter. JNBA Financial Advisors bought a new stake in shares of ING Groep in the first quarter worth $32,000. Cresset Asset Management LLC bought a new stake in shares of ING Groep in the first quarter worth $43,000. Zions Bancorporation N.A. bought a new stake in shares of ING Groep in the first quarter worth $44,000. Finally, Lindbrook Capital LLC bought a new stake in shares of ING Groep in the fourth quarter worth $43,000. Institutional investors own 3.48% of the company’s stock.

About ING Groep

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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