M&T Bank Corp Purchases 1,535 Shares of ING Groep (NYSE:ING)

M&T Bank Corp lifted its position in ING Groep (NYSE:ING) by 4.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 34,227 shares of the financial services provider’s stock after buying an additional 1,535 shares during the period. M&T Bank Corp’s holdings in ING Groep were worth $622,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Blue Trust Inc. increased its position in ING Groep by 706.1% during the 2nd quarter. Blue Trust Inc. now owns 4,788 shares of the financial services provider’s stock valued at $79,000 after purchasing an additional 4,194 shares during the period. Summit Global Investments increased its holdings in ING Groep by 273.4% during the second quarter. Summit Global Investments now owns 55,671 shares of the financial services provider’s stock valued at $954,000 after buying an additional 40,763 shares during the period. Fifth Third Bancorp raised its stake in ING Groep by 2.6% in the second quarter. Fifth Third Bancorp now owns 72,760 shares of the financial services provider’s stock worth $1,247,000 after buying an additional 1,860 shares in the last quarter. &PARTNERS raised its stake in ING Groep by 78.7% in the second quarter. &PARTNERS now owns 19,760 shares of the financial services provider’s stock worth $339,000 after buying an additional 8,700 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in ING Groep by 150.1% during the second quarter. Bank of New York Mellon Corp now owns 599,012 shares of the financial services provider’s stock worth $10,267,000 after buying an additional 359,535 shares during the period. 4.49% of the stock is owned by hedge funds and other institutional investors.

ING Groep Stock Down 1.0 %

ING Groep stock opened at $15.36 on Wednesday. ING Groep has a 1-year low of $12.77 and a 1-year high of $18.72. The business has a fifty day moving average price of $16.21 and a 200-day moving average price of $17.17. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market capitalization of $53.73 billion, a price-to-earnings ratio of 6.89, a PEG ratio of 6.07 and a beta of 1.48.

Analysts Set New Price Targets

Several research analysts have recently commented on ING shares. Citigroup raised ING Groep to a “strong-buy” rating in a research report on Thursday, October 17th. Barclays lowered ING Groep from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft lowered shares of ING Groep from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Finally, Morgan Stanley downgraded shares of ING Groep from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, November 26th.

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.