ING Groep (NYSE:ING) PT Raised to €12.00 at Royal Bank of Canada

ING Groep (NYSE:INGGet Rating) had its price target upped by equities research analysts at Royal Bank of Canada from €10.00 ($10.75) to €12.00 ($12.90) in a research report issued to clients and investors on Thursday, The Fly reports.

Other equities analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of ING Groep from €13.00 ($13.98) to €12.00 ($12.90) in a research note on Tuesday, May 17th. JPMorgan Chase & Co. lifted their price target on ING Groep from €12.70 ($13.66) to €12.80 ($13.76) and gave the stock an “overweight” rating in a research report on Thursday, May 19th. UBS Group boosted their price objective on ING Groep from €15.30 ($16.45) to €15.90 ($17.10) and gave the stock a “buy” rating in a research note on Monday, May 9th. Morgan Stanley lowered their target price on ING Groep from €15.60 ($16.77) to €13.00 ($13.98) in a report on Thursday, March 24th. Finally, Barclays boosted their target price on ING Groep from €10.90 ($11.72) to €11.50 ($12.37) in a report on Thursday, June 2nd. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $13.40.

Shares of ING stock traded down $0.39 during trading hours on Thursday, hitting $10.74. 626,199 shares of the company’s stock traded hands, compared to its average volume of 5,888,214. The stock’s fifty day simple moving average is $10.22 and its two-hundred day simple moving average is $12.26. ING Groep has a 12-month low of $8.97 and a 12-month high of $15.97. The stock has a market cap of $41.89 billion, a price-to-earnings ratio of 8.39, a PEG ratio of 0.90 and a beta of 1.74. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.83.

ING Groep (NYSE:INGGet Rating) last issued its quarterly earnings results on Friday, May 6th. The financial services provider reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.10. ING Groep had a net margin of 23.05% and a return on equity of 7.77%. The business had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $5.01 billion. On average, equities analysts forecast that ING Groep will post 1.19 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Captrust Financial Advisors grew its stake in shares of ING Groep by 7.9% in the 3rd quarter. Captrust Financial Advisors now owns 9,751 shares of the financial services provider’s stock valued at $141,000 after purchasing an additional 710 shares during the period. Sage Rhino Capital LLC grew its stake in shares of ING Groep by 5.0% in the 4th quarter. Sage Rhino Capital LLC now owns 16,554 shares of the financial services provider’s stock valued at $230,000 after purchasing an additional 785 shares during the period. Altium Wealth Management LLC boosted its holdings in shares of ING Groep by 3.6% in the 4th quarter. Altium Wealth Management LLC now owns 24,687 shares of the financial services provider’s stock worth $344,000 after acquiring an additional 854 shares in the last quarter. Shilanski & Associates Inc. boosted its holdings in shares of ING Groep by 6.2% in the 4th quarter. Shilanski & Associates Inc. now owns 14,990 shares of the financial services provider’s stock worth $209,000 after acquiring an additional 877 shares in the last quarter. Finally, JCIC Asset Management Inc. increased its stake in shares of ING Groep by 0.4% in the 4th quarter. JCIC Asset Management Inc. now owns 262,135 shares of the financial services provider’s stock valued at $3,649,000 after buying an additional 940 shares during the period. Hedge funds and other institutional investors own 9.33% of the company’s stock.

About ING Groep (Get Rating)

ING Groep N.V., a financial institution, provides various banking products and services in the Netherlands, Belgium, Germany, Poland, Rest of Europe, North America, Latin America, Asia, and Australia. It operates in six segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, Wholesale Banking, and Corporate Line Banking.

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