ING Groep (NYSE:ING) Stock Rating Lowered by Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft lowered shares of ING Groep (NYSE:ING) from a buy rating to a hold rating in a research report released on Wednesday morning, MarketBeat reports.

ING Groep Stock Performance

Shares of NYSE ING opened at $17.41 on Wednesday. The firm has a fifty day moving average price of $17.70 and a 200-day moving average price of $17.42. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.95 and a quick ratio of 1.12. The stock has a market cap of $60.90 billion, a PE ratio of 7.95 and a beta of 1.52. ING Groep has a 1 year low of $12.44 and a 1 year high of $18.72.

ING Groep (NYSE:ING) last posted its earnings results on Thursday, August 1st. The financial services provider reported $0.58 earnings per share for the quarter. The company had revenue of $6.15 billion during the quarter. ING Groep had a net margin of 30.60% and a return on equity of 12.65%. During the same period in the previous year, the business posted $0.65 earnings per share. Equities analysts anticipate that ING Groep will post 2.04 earnings per share for the current fiscal year.

ING Groep Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, August 19th. Investors of record on Thursday, August 8th were paid a dividend of $0.8143 per share. This represents a yield of 5.9%. This is a boost from ING Groep’s previous semi-annual dividend of $0.70. The ex-dividend date of this dividend was Thursday, August 8th. ING Groep’s dividend payout ratio (DPR) is presently 29.68%.

Hedge Funds Weigh In On ING Groep

Several institutional investors have recently bought and sold shares of ING. Financial Management Professionals Inc. grew its stake in ING Groep by 67.8% during the first quarter. Financial Management Professionals Inc. now owns 1,639 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 662 shares in the last quarter. Richardson Financial Services Inc. purchased a new position in shares of ING Groep in the 4th quarter worth $28,000. Summit Securities Group LLC bought a new stake in shares of ING Groep in the 2nd quarter worth about $31,000. Rothschild Investment LLC bought a new stake in shares of ING Groep in the 2nd quarter worth about $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of ING Groep in the 2nd quarter worth about $38,000. 4.49% of the stock is owned by hedge funds and other institutional investors.

ING Groep Company Profile

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.