Short Interest in ING Groep (NYSE:ING) Drops By 21.3%

ING Groep (NYSE:ING) saw a large decrease in short interest in October. As of October 31st, there was short interest totalling 3,070,000 shares, a decrease of 21.3% from the October 15th total of 3,900,000 shares. Based on an average daily trading volume, of 1,670,000 shares, the days-to-cover ratio is presently 1.8 days. Currently, 0.1% of the shares of the company are sold short.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Barclays lowered shares of ING Groep from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, October 22nd. Citigroup raised shares of ING Groep to a “strong-buy” rating in a research note on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft cut shares of ING Groep from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th.

Institutional Investors Weigh In On ING Groep

A number of institutional investors and hedge funds have recently bought and sold shares of ING. M&T Bank Corp increased its stake in ING Groep by 4.7% in the third quarter. M&T Bank Corp now owns 34,227 shares of the financial services provider’s stock valued at $622,000 after acquiring an additional 1,535 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in ING Groep in the 3rd quarter worth approximately $9,924,000. Dorsey Wright & Associates raised its stake in shares of ING Groep by 12.6% during the third quarter. Dorsey Wright & Associates now owns 174,815 shares of the financial services provider’s stock worth $3,175,000 after acquiring an additional 19,525 shares in the last quarter. Orion Portfolio Solutions LLC lifted its holdings in shares of ING Groep by 13.4% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 259,169 shares of the financial services provider’s stock worth $4,706,000 after acquiring an additional 30,618 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of ING Groep in the 3rd quarter worth approximately $1,638,000. 4.49% of the stock is owned by hedge funds and other institutional investors.

ING Groep Price Performance

ING Groep stock traded up $0.26 during midday trading on Friday, hitting $15.74. 3,733,430 shares of the company’s stock were exchanged, compared to its average volume of 2,003,215. The company has a market cap of $55.06 billion, a P/E ratio of 7.06, a PEG ratio of 6.13 and a beta of 1.52. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a 50-day moving average price of $17.32 and a two-hundred day moving average price of $17.48. ING Groep has a 52-week low of $12.77 and a 52-week high of $18.72.

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.