ING Groep (NYSE:ING) Sees Significant Drop in Short Interest

ING Groep (NYSE:ING) was the recipient of a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 3,940,000 shares, a decline of 20.7% from the March 31st total of 4,970,000 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 3,210,000 shares, the short-interest ratio is currently 1.2 days.

ING Groep Stock Up 7.1 %

ING Groep stock opened at $20.65 on Friday. 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 firm has a 50 day moving average price of $19.11 and a 200 day moving average price of $17.20. ING Groep has a fifty-two week low of $15.09 and a fifty-two week high of $20.79. The company has a market capitalization of $72.24 billion, a PE ratio of 9.65, a price-to-earnings-growth ratio of 6.42 and a beta of 1.07.

ING Groep (NYSE:ING) last posted its quarterly earnings data on Friday, May 2nd. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.07). ING Groep had a net margin of 28.30% and a return on equity of 11.81%. The firm had revenue of $6.36 billion during the quarter, compared to analysts’ expectations of $5.74 billion. Research analysts expect that ING Groep will post 2.14 earnings per share for the current year.

ING Groep Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be given a dividend of $0.6526 per share. This represents a dividend yield of 5.1%. The ex-dividend date of this dividend is Friday, April 25th. This is a boost from ING Groep’s previous semi-annual dividend of $0.17. ING Groep’s dividend payout ratio is currently 60.75%.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group raised shares of ING Groep from a “neutral” rating to a “buy” rating in a research report on Thursday, March 27th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Verdence Capital Advisors LLC lifted its holdings in ING Groep by 13.5% during the 1st quarter. Verdence Capital Advisors LLC now owns 57,244 shares of the financial services provider’s stock worth $1,121,000 after buying an additional 6,805 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of ING Groep by 60.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 529,731 shares of the financial services provider’s stock worth $10,377,000 after acquiring an additional 198,549 shares during the period. SBI Securities Co. Ltd. raised its stake in shares of ING Groep by 135.3% in the first quarter. SBI Securities Co. Ltd. now owns 1,586 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 912 shares in the last quarter. Apollon Wealth Management LLC boosted its holdings in ING Groep by 2.8% in the first quarter. Apollon Wealth Management LLC now owns 41,674 shares of the financial services provider’s stock valued at $816,000 after purchasing an additional 1,140 shares during the period. Finally, Signaturefd LLC grew its stake in ING Groep by 3.6% during the 1st quarter. Signaturefd LLC now owns 124,782 shares of the financial services provider’s stock worth $2,444,000 after purchasing an additional 4,309 shares in the last quarter. Hedge funds and other institutional investors own 4.49% of the company’s stock.

ING Groep Company Profile

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.