ING Groep (NYSE:ING) Sees Large Decrease in Short Interest

ING Groep (NYSE:ING - Get Free Report) was the target of a significant decrease in short interest in April. As of April 15th, there was short interest totalling 3,940,000 shares, a decrease of 20.7% from the March 31st total of 4,970,000 shares. Currently, 0.1% of the company's stock are sold short. Based on an average daily volume of 3,210,000 shares, the days-to-cover ratio is presently 1.2 days.

ING Groep Stock Down 0.2 %

NYSE ING traded down $0.04 on Wednesday, reaching $20.20. The stock had a trading volume of 650,995 shares, compared to its average volume of 2,270,087. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.89. ING Groep has a 1 year low of $15.09 and a 1 year high of $20.79. The business has a 50 day moving average price of $19.22 and a 200 day moving average price of $17.24. The company has a market capitalization of $70.65 billion, a price-to-earnings ratio of 9.43, a P/E/G ratio of 6.42 and a beta of 1.15.

ING Groep (NYSE:ING - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $5.74 billion. ING Groep had a net margin of 28.30% and a return on equity of 11.81%. On average, analysts forecast that ING Groep will post 2.14 EPS for the current fiscal year.

ING Groep Increases Dividend

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

Wall Street Analyst Weigh In

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

Institutional Trading of ING Groep

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC lifted its position in shares of ING Groep by 85.1% in the third quarter. Virtu Financial LLC now owns 35,468 shares of the financial services provider's stock worth $644,000 after purchasing an additional 16,310 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of ING Groep in the third quarter worth about $257,000. Logan Capital Management Inc. boosted its stake in shares of ING Groep by 4.2% during the third quarter. Logan Capital Management Inc. now owns 192,859 shares of the financial services provider's stock valued at $3,502,000 after purchasing an additional 7,772 shares in the last quarter. Confluence Investment Management LLC raised its position in ING Groep by 1.7% during the 4th quarter. Confluence Investment Management LLC now owns 48,238 shares of the financial services provider's stock worth $756,000 after purchasing an additional 790 shares during the last quarter. Finally, Versant Capital Management Inc bought a new position in ING Groep during the fourth quarter worth $45,000. Institutional investors and hedge funds own 4.49% of the company's stock.

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.