ING Group, N.V. (NYSE:ING) Declares $0.88 Dividend

ING Group, N.V. (NYSE:ING) declared a dividend on Thursday, January 29th. Stockholders of record on Friday, April 17th will be given a dividend of 0.8796 per share by the financial services provider on Friday, May 1st. This represents a dividend yield of 589.0%. The ex-dividend date of this dividend is Friday, April 17th.

ING Group has raised its dividend by an average of 0.1%per year over the last three years. ING Group has a payout ratio of 26.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect ING Group to earn $2.56 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 26.6%.

ING Group Stock Performance

Shares of ING Group stock traded down $0.58 on Friday, reaching $29.29. The stock had a trading volume of 1,579,159 shares, compared to its average volume of 2,105,067. ING Group has a fifty-two week low of $16.04 and a fifty-two week high of $30.10. The business’s 50-day moving average price is $27.77 and its two-hundred day moving average price is $25.66. The company has a debt-to-equity ratio of 2.99, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market cap of $85.23 billion, a P/E ratio of 13.18, a price-to-earnings-growth ratio of 1.47 and a beta of 0.82.

ING Group (NYSE:ING) last announced its earnings results on Thursday, January 29th. The financial services provider reported $0.56 EPS for the quarter, topping the consensus estimate of $0.46 by $0.10. The firm had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $6.67 billion. ING Group had a net margin of 26.94% and a return on equity of 11.57%. On average, sell-side analysts forecast that ING Group will post 2.14 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on ING shares. Keefe, Bruyette & Woods lowered ING Group from a “hold” rating to a “moderate sell” rating in a report on Tuesday, November 11th. Weiss Ratings restated a “buy (b)” rating on shares of ING Group in a research report on Monday, December 29th. Jefferies Financial Group started coverage on shares of ING Group in a report on Tuesday. They set a “hold” rating on the stock. Finally, Citigroup upgraded shares of ING Group to a “strong-buy” rating in a research note on Friday, November 21st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Buy”.

ING Group Company Profile

ING Group N.V. is a Dutch multinational financial services company headquartered in Amsterdam. Formed through the consolidation of Dutch financial businesses, ING operates as a banking and financial services group that serves retail, small and medium-sized enterprises, large corporates and institutional clients. The company is organized under a two-tier governance model common in the Netherlands, with an Executive Board responsible for day-to-day management and a Supervisory Board providing oversight.

ING’s principal activities include retail and direct banking, commercial and wholesale banking, corporate lending, transaction services and cash management, and a range of investment and savings products.