ING Groep (NYSE:ING – Get Rating) – Equities researchers at Jefferies Financial Group upped their FY2022 EPS estimates for shares of ING Groep in a note issued to investors on Wednesday, June 15th. Jefferies Financial Group analyst F. Bocahut now expects that the financial services provider will post earnings per share of $1.28 for the year, up from their prior forecast of $1.27. The consensus estimate for ING Groep’s current full-year earnings is $1.19 per share. Jefferies Financial Group also issued estimates for ING Groep’s FY2023 earnings at $1.60 EPS, FY2024 earnings at $1.92 EPS and FY2025 earnings at $2.24 EPS.
Several other equities research analysts have also recently issued reports on ING. Berenberg Bank lowered their target price on shares of ING Groep from €14.50 ($15.10) to €13.00 ($13.54) in a research note on Wednesday, April 20th. Royal Bank of Canada lifted their target price on shares of ING Groep from €12.00 ($12.50) to €12.50 ($13.02) and gave the stock a “sector perform” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price target on ING Groep from €12.70 ($13.23) to €12.80 ($13.33) and gave the stock an “overweight” rating in a report on Thursday, May 19th. UBS Group lifted their price target on ING Groep from €15.90 ($16.56) to €16.00 ($16.67) in a report on Wednesday. Finally, The Goldman Sachs Group started coverage on ING Groep in a report on Monday, May 30th. They set a “buy” rating on the stock. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, ING Groep currently has an average rating of “Buy” and a consensus target price of $12.97.
ING Groep (NYSE:ING – Get Rating) last released its quarterly earnings results on Friday, May 6th. The financial services provider reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.10. ING Groep had a net margin of 23.05% and a return on equity of 7.77%. The firm had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $5.01 billion.
The firm also recently declared a — dividend, which was paid on Wednesday, May 25th. Shareholders of record on Monday, May 16th were paid a dividend of $0.2452 per share. The ex-dividend date was Friday, May 13th. This represents a yield of 11.6%. ING Groep’s dividend payout ratio (DPR) is presently 57.03%.
Institutional investors have recently made changes to their positions in the company. Spire Wealth Management acquired a new position in shares of ING Groep during the fourth quarter worth about $26,000. CWM LLC acquired a new position in shares of ING Groep during the fourth quarter worth about $30,000. Farmers & Merchants Investments Inc. grew its position in shares of ING Groep by 80.6% during the first quarter. Farmers & Merchants Investments Inc. now owns 3,199 shares of the financial services provider’s stock worth $33,000 after buying an additional 1,428 shares in the last quarter. UMB Bank N A MO acquired a new position in shares of ING Groep during the fourth quarter worth about $38,000. Finally, Prospera Financial Services Inc acquired a new position in shares of ING Groep during the first quarter worth about $54,000. 9.33% of the stock is owned by institutional investors and hedge funds.
ING Groep Company Profile (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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