ING Groep (NYSE:ING) Shares Gap Up - What's Next?

ING Groep (NYSE:ING - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $19.29, but opened at $20.65. ING Groep shares last traded at $20.69, with a volume of 740,363 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group upgraded shares of ING Groep from a "neutral" rating to a "buy" rating in a research report on Thursday, March 27th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy".

ING Groep Trading Down 0.5 %

The company has a 50-day moving average of $19.11 and a 200 day moving average of $17.20. 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 company has a market cap of $71.84 billion, a PE ratio of 9.60, a price-to-earnings-growth ratio of 6.42 and a beta of 1.15.

ING Groep (NYSE:ING - Get Free Report) last announced its earnings results on Friday, May 2nd. The financial services provider reported $0.49 EPS for the quarter, missing analysts' consensus estimates of $0.56 by ($0.07). The company had revenue of $6.36 billion during the quarter, compared to analysts' expectations of $5.74 billion. ING Groep had a return on equity of 11.81% and a net margin of 28.30%. Analysts predict that ING Groep will post 2.14 earnings per share for the current year.

ING Groep Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be issued a $0.6526 dividend. This represents a dividend yield of 5.1%. The ex-dividend date of this dividend is Friday, April 25th. This is a positive change from ING Groep's previous semi-annual dividend of $0.17. ING Groep's dividend payout ratio (DPR) is 61.61%.

Hedge Funds Weigh In On ING Groep

Hedge funds have recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC boosted its position in shares of ING Groep by 4.4% during the first quarter. Kestra Private Wealth Services LLC now owns 12,705 shares of the financial services provider's stock valued at $249,000 after buying an additional 530 shares during the period. Huntington National Bank boosted its holdings in ING Groep by 1.7% during the 4th quarter. Huntington National Bank now owns 35,030 shares of the financial services provider's stock valued at $549,000 after acquiring an additional 597 shares during the period. IFP Advisors Inc grew its position in ING Groep by 25.1% in the 4th quarter. IFP Advisors Inc now owns 3,095 shares of the financial services provider's stock valued at $48,000 after acquiring an additional 621 shares during the last quarter. SRS Capital Advisors Inc. increased its stake in ING Groep by 20.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 3,985 shares of the financial services provider's stock worth $62,000 after purchasing an additional 665 shares during the period. Finally, Wedmont Private Capital lifted its position in shares of ING Groep by 6.5% during the first quarter. Wedmont Private Capital now owns 11,415 shares of the financial services provider's stock worth $208,000 after purchasing an additional 693 shares during the last quarter. 4.49% of the stock is currently owned by 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.