Zacks Investment Research upgraded shares of ING Groep (NYSE:ING) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $11.00 price objective on the financial services provider’s stock.
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. “
A number of other analysts have also weighed in on the company. Jefferies Financial Group reiterated a buy rating on shares of ING Groep in a research note on Wednesday, December 16th. Morgan Stanley restated an equal weight rating on shares of ING Groep in a research note on Monday, November 16th. ValuEngine upgraded ING Groep from a sell rating to a hold rating in a research note on Wednesday, November 18th. Finally, UBS Group restated a buy rating on shares of ING Groep in a research note on Tuesday, January 5th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. ING Groep has a consensus rating of Buy and an average price target of $9.00.
ING Groep (NYSE:ING) last released its earnings results on Thursday, November 5th. The financial services provider reported $0.23 earnings per share for the quarter. ING Groep had a return on equity of 4.92% and a net margin of 14.79%. The business had revenue of $5.01 billion for the quarter, compared to analyst estimates of $5.20 billion. Research analysts expect that ING Groep will post 0.82 EPS for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of ING. Nuveen Asset Management LLC purchased a new position in ING Groep in the second quarter valued at about $8,625,000. Advisory Research Inc. grew its stake in ING Groep by 9,000.9% in the third quarter. Advisory Research Inc. now owns 920,467 shares of the financial services provider’s stock valued at $6,517,000 after purchasing an additional 910,353 shares during the last quarter. FMR LLC grew its stake in ING Groep by 59.7% in the second quarter. FMR LLC now owns 2,224,458 shares of the financial services provider’s stock valued at $15,349,000 after purchasing an additional 831,454 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in ING Groep in the third quarter valued at about $3,132,000. Finally, Teachers Retirement System of The State of Kentucky grew its stake in ING Groep by 50.1% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 1,201,900 shares of the financial services provider’s stock valued at $8,293,000 after purchasing an additional 401,000 shares during the last quarter. Institutional investors own 2.78% of the company’s stock.
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.
Read More: Day Trading
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ING Groep Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ING Groep and related companies with MarketBeat.com's FREE daily email newsletter.