ING Groep (ING) Rating Lowered to Sell at Zacks Investment Research
Zacks Investment Research lowered shares of ING Groep (NYSE:ING) from a hold rating to a sell rating in a research report report published on Wednesday.
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. “
Several other analysts have also recently commented on ING. ValuEngine raised shares of ING Groep from a strong sell rating to a sell rating in a research note on Friday, November 2nd. Morgan Stanley raised shares of ING Groep from an underweight rating to an equal weight rating in a research note on Friday, November 2nd. Royal Bank of Canada reaffirmed a neutral rating on shares of ING Groep in a research note on Thursday, November 1st. Finally, JPMorgan Chase & Co. cut shares of ING Groep from an overweight rating to a neutral rating in a research note on Monday, September 3rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $21.00.
ING Groep (NYSE:ING) last released its earnings results on Thursday, November 1st. The financial services provider reported $0.23 EPS for the quarter. The firm had revenue of $5.40 billion during the quarter. ING Groep had a net margin of 24.83% and a return on equity of 9.05%. As a group, sell-side analysts expect that ING Groep will post 1.5 EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in ING. Belpointe Asset Management LLC purchased a new stake in shares of ING Groep during the 3rd quarter valued at $116,000. Hilltop Holdings Inc. purchased a new stake in shares of ING Groep during the 3rd quarter valued at $130,000. Bailard Inc. purchased a new stake in shares of ING Groep during the 3rd quarter valued at $133,000. Russell Investments Group Ltd. purchased a new stake in shares of ING Groep during the 3rd quarter valued at $136,000. Finally, Rhumbline Advisers purchased a new stake in shares of ING Groep during the 3rd quarter valued at $142,000. 3.47% of the stock is owned by institutional investors.
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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