Zions Bancorporation N.A. Has $1.34 Million Stock Holdings in ING Groep (NYSE:ING)

Zions Bancorporation N.A. lifted its holdings in shares of ING Groep (NYSE:ING) by 63.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 85,579 shares of the financial services provider’s stock after buying an additional 33,152 shares during the period. Zions Bancorporation N.A.’s holdings in ING Groep were worth $1,341,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Raymond James Financial Inc. acquired a new position in ING Groep during the fourth quarter worth about $14,375,000. State Street Corp increased its position in ING Groep by 1.3% during the 3rd quarter. State Street Corp now owns 358,479 shares of the financial services provider’s stock worth $6,510,000 after purchasing an additional 4,542 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in ING Groep by 18.7% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 92,045 shares of the financial services provider’s stock valued at $1,442,000 after purchasing an additional 14,476 shares during the last quarter. ABC Arbitrage SA bought a new position in ING Groep in the 4th quarter valued at approximately $10,129,000. Finally, Massachusetts Financial Services Co. MA acquired a new stake in ING Groep in the third quarter valued at approximately $2,428,000. 4.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Morgan Stanley cut ING Groep from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, November 26th.

ING Groep Stock Performance

NYSE:ING opened at $20.30 on Wednesday. The stock’s 50-day moving average is $17.87 and its 200-day moving average is $17.00. ING Groep has a 1-year low of $15.09 and a 1-year high of $20.79. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.89. The stock has a market cap of $71.01 billion, a P/E ratio of 9.49, a price-to-earnings-growth ratio of 6.42 and a beta of 1.44.

ING Groep (NYSE:ING) last posted its earnings results on Thursday, February 6th. The financial services provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). ING Groep had a return on equity of 11.81% and a net margin of 28.30%. Equities research analysts anticipate that ING Groep will post 2.14 earnings per share for the current year.

ING Groep Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Thursday, January 23rd. Investors of record on Monday, January 13th were given a dividend of $0.1667 per share. This represents a yield of 6.4%. The ex-dividend date of this dividend was Monday, January 13th. ING Groep’s dividend payout ratio is currently 29.91%.

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.