ING Groep (NYSE:ING) Shares Gap Up to $17.14

ING Groep (NYSE:ING)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $17.14, but opened at $17.67. ING Groep shares last traded at $17.66, with a volume of 282,297 shares changing hands.

Wall Street Analysts Forecast Growth

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

ING Groep Trading Up 0.2 %

The company has a 50 day moving average of $17.18 and a two-hundred day moving average of $15.61. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $61.60 billion, a PE ratio of 7.79 and a beta of 1.54.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. LPL Financial LLC lifted its position in ING Groep by 24.8% during the 3rd quarter. LPL Financial LLC now owns 274,444 shares of the financial services provider’s stock worth $3,617,000 after acquiring an additional 54,552 shares during the period. Qube Research & Technologies Ltd lifted its position in ING Groep by 101.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 384,667 shares of the financial services provider’s stock worth $5,070,000 after acquiring an additional 193,489 shares during the period. Axxcess Wealth Management LLC acquired a new stake in ING Groep during the 3rd quarter worth about $294,000. Scotia Capital Inc. lifted its position in ING Groep by 1.6% during the 3rd quarter. Scotia Capital Inc. now owns 224,941 shares of the financial services provider’s stock worth $2,965,000 after acquiring an additional 3,524 shares during the period. Finally, Ramirez Asset Management Inc. acquired a new stake in ING Groep during the 3rd quarter worth about $1,866,000. 4.49% of the stock is currently owned by hedge funds and other institutional investors.

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.