Short Interest in ING Groep (NYSE:ING) Drops By 12.6%

ING Groep (NYSE:ING) saw a significant decrease in short interest in October. As of October 15th, there was short interest totalling 3,900,000 shares, a decrease of 12.6% from the September 30th total of 4,460,000 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,730,000 shares, the short-interest ratio is presently 2.3 days.

ING Groep Stock Down 0.5 %

Shares of ING stock traded down $0.09 on Tuesday, reaching $16.95. 1,894,889 shares of the company were exchanged, compared to its average volume of 2,322,785. The company has a market cap of $59.28 billion, a price-to-earnings ratio of 7.54, a PEG ratio of 6.58 and a beta of 1.52. The company has a 50-day moving average of $17.75 and a 200-day moving average of $17.45. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.95 and a quick ratio of 1.12. ING Groep has a one year low of $12.44 and a one year high of $18.72.

ING Groep (NYSE:ING) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter. ING Groep had a net margin of 30.60% and a return on equity of 12.65%. The company had revenue of $6.15 billion for the quarter. During the same period last year, the company earned $0.65 EPS. Analysts anticipate that ING Groep will post 2.06 earnings per share for the current year.

Institutional Investors Weigh In On ING Groep

Institutional investors and hedge funds have recently made changes to their positions in the business. Fortitude Family Office LLC purchased a new stake in ING Groep in the 3rd quarter valued at about $25,000. Summit Securities Group LLC purchased a new stake in ING Groep in the 2nd quarter valued at about $31,000. Rothschild Investment LLC purchased a new stake in ING Groep in the 2nd quarter valued at about $31,000. Mather Group LLC. increased its stake in ING Groep by 57.3% in the 3rd quarter. Mather Group LLC. now owns 2,147 shares of the financial services provider’s stock valued at $39,000 after buying an additional 782 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in ING Groep in the 2nd quarter valued at about $38,000. Institutional investors and hedge funds own 4.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ING shares. Deutsche Bank Aktiengesellschaft downgraded shares of ING Groep from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Citigroup upgraded ING Groep to a “strong-buy” rating in a report on Thursday, October 17th. Finally, Barclays downgraded ING Groep from an “overweight” rating to an “equal weight” rating in a report on Tuesday, October 22nd.

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.