ING Groep (NYSE:ING) Sees Significant Increase in Short Interest

ING Groep (NYSE:ING) was the recipient of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 4,610,000 shares, a growth of 6.7% from the May 31st total of 4,320,000 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily trading volume, of 2,510,000 shares, the short-interest ratio is currently 1.8 days.

ING Groep Stock Up 0.9 %

Shares of ING traded up $0.16 during midday trading on Wednesday, hitting $17.77. The company had a trading volume of 997,435 shares, compared to its average volume of 2,738,377. The company’s 50 day moving average price is $17.20 and its 200 day moving average price is $15.63. The stock has a market cap of $62.16 billion, a price-to-earnings ratio of 7.85 and a beta of 1.54. ING Groep has a 52 week low of $12.44 and a 52 week high of $18.04. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.68.

ING Groep (NYSE:ING) last released its earnings results on Thursday, May 2nd. The financial services provider reported $0.52 earnings per share for the quarter. ING Groep had a net margin of 32.20% and a return on equity of 13.22%. The company had revenue of $6.06 billion during the quarter. On average, equities research analysts predict that ING Groep will post 2.01 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Verdence Capital Advisors LLC acquired a new position in shares of ING Groep in the 4th quarter valued at about $733,000. Raymond James & Associates boosted its stake in ING Groep by 31.1% during the 4th quarter. Raymond James & Associates now owns 488,936 shares of the financial services provider’s stock valued at $7,344,000 after purchasing an additional 116,114 shares during the period. HTLF Bank acquired a new position in ING Groep during the 4th quarter valued at about $4,629,000. Tudor Investment Corp Et Al boosted its stake in ING Groep by 2,784.1% during the 3rd quarter. Tudor Investment Corp Et Al now owns 329,939 shares of the financial services provider’s stock valued at $4,349,000 after purchasing an additional 318,499 shares during the period. Finally, Prime Capital Investment Advisors LLC acquired a new position in ING Groep during the 4th quarter valued at about $1,581,000. 4.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Barclays raised shares of ING Groep from an “equal weight” rating to an “overweight” rating in a research report on Friday, June 7th.

About ING Groep

ING Groep N.V. provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally. It operates through five segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking. The company accepts current and savings accounts.