ING Groep (ING) Reaches New 52-Week Low at $11.40

ING Groep NV (NYSE:ING)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $11.40 and last traded at $11.52, with a volume of 308800 shares trading hands. The stock had previously closed at $11.93.

A number of equities research analysts have issued reports on the company. Morgan Stanley upgraded ING Groep from an “underweight” rating to an “equal weight” rating in a research report on Friday, November 2nd. ValuEngine downgraded ING Groep from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 4th. Zacks Investment Research upgraded ING Groep from a “sell” rating to a “hold” rating in a research report on Wednesday, September 12th. Royal Bank of Canada restated a “neutral” rating on shares of ING Groep in a research report on Thursday, November 1st. Finally, JPMorgan Chase & Co. downgraded ING Groep from an “overweight” rating to a “neutral” rating in a research report on Monday, September 3rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. ING Groep presently has an average rating of “Hold” and an average price target of $21.00.

The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.29. The stock has a market cap of $45.04 billion, a PE ratio of 7.92 and a beta of 1.22.

ING Groep (NYSE:ING) last issued its quarterly earnings data on Thursday, November 1st. The financial services provider reported $0.23 earnings per share (EPS) for the quarter. ING Groep had a return on equity of 9.05% and a net margin of 24.83%. The business had revenue of $5.40 billion for the quarter. Analysts forecast that ING Groep NV will post 1.5 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. Belpointe Asset Management LLC purchased a new stake in shares of ING Groep in the third quarter worth approximately $116,000. Hilltop Holdings Inc. purchased a new stake in shares of ING Groep in the third quarter worth approximately $130,000. Bailard Inc. purchased a new stake in shares of ING Groep in the third quarter worth approximately $133,000. Russell Investments Group Ltd. purchased a new stake in shares of ING Groep in the third quarter worth approximately $136,000. Finally, Rhumbline Advisers purchased a new stake in shares of ING Groep in the third quarter worth approximately $142,000. Institutional investors and hedge funds own 3.47% of the company’s stock.

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ING Groep Company Profile (NYSE:ING)

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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