Short Interest in ING Groep (NYSE:ING) Drops By 12.6%

ING Groep (NYSE:ING) saw a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 3,900,000 shares, a drop of 12.6% from the September 30th total of 4,460,000 shares. Based on an average daily volume of 1,730,000 shares, the short-interest ratio is presently 2.3 days. Currently, 0.1% of the shares of the company are sold short.

ING Groep Stock Performance

ING traded down $0.09 on Tuesday, hitting $16.95. The company’s stock had a trading volume of 1,894,889 shares, compared to its average volume of 2,322,785. The company’s 50 day simple moving average is $17.75 and its 200-day simple moving average is $17.45. The firm has a market cap of $59.28 billion, a P/E ratio of 7.54, a price-to-earnings-growth ratio of 6.58 and a beta of 1.52. ING Groep has a 12 month low of $12.44 and a 12 month high of $18.72. The company has a quick ratio of 1.12, a current ratio of 0.95 and a debt-to-equity ratio of 2.54.

ING Groep (NYSE:ING) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.58 EPS 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 last year, the business posted $0.65 earnings per share. Analysts forecast that ING Groep will post 2.06 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ING. Deutsche Bank Aktiengesellschaft lowered shares of ING Groep from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Citigroup upgraded shares of ING Groep to a “strong-buy” rating in a research note on Thursday, October 17th. Finally, Barclays lowered shares of ING Groep from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, October 22nd.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Fortitude Family Office LLC bought a new position in ING Groep in the 3rd quarter valued at $25,000. Summit Securities Group LLC bought a new position in ING Groep in the 2nd quarter valued at $31,000. Rothschild Investment LLC bought a new position in ING Groep in the 2nd quarter valued at $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in ING Groep in the 2nd quarter valued at $38,000. Finally, Mather Group LLC. boosted its holdings in ING Groep by 57.3% in the 3rd quarter. Mather Group LLC. now owns 2,147 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 782 shares during the period. 4.49% of the stock is owned by 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.