ING Group, N.V. (NYSE:ING) Short Interest Up 34.6% in August

Key Points

• ING Group experienced a significant **34.6% increase** in short interest in August 2023, totaling **5.8 million shares**, indicating heightened investor pessimism.
• The company reported **$0.64 EPS** in its last earnings release, surpassing analyst expectations, with a revenue of **$6.55 billion** for the quarter.
• ING Group announced a **dividend reduction**, paying a semi-annual dividend of **$0.4002** with a yield of **450.0%** and a payout ratio of **31.80%**.

ING Group, N.V. (NYSE:ING - Get Free Report) was the recipient of a large increase in short interest in August. As of August 15th, there was short interest totaling 5,800,000 shares, an increase of 34.6% from the July 31st total of 4,310,000 shares. Based on an average trading volume of 2,500,000 shares, the short-interest ratio is currently 2.3 days. Currently, 0.2% of the company's shares are sold short. Currently, 0.2% of the company's shares are sold short. Based on an average trading volume of 2,500,000 shares, the short-interest ratio is currently 2.3 days.

Wall Street Analysts Forecast Growth

ING has been the subject of several recent analyst reports. Barclays raised ING Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, July 15th. Morgan Stanley raised shares of ING Group from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy".

Hedge Funds Weigh In On ING Group

A number of hedge funds have recently bought and sold shares of ING. Legacy Advisors LLC bought a new stake in shares of ING Group in the 1st quarter worth $28,000. SBI Securities Co. Ltd. grew its position in ING Group by 135.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,586 shares of the financial services provider's stock worth $31,000 after purchasing an additional 912 shares in the last quarter. Rexford Capital Inc. bought a new stake in ING Group in the 2nd quarter worth about $33,000. V Square Quantitative Management LLC purchased a new stake in ING Group in the 2nd quarter valued at about $37,000. Finally, Redwood Investments LLC bought a new position in shares of ING Group during the 4th quarter worth approximately $41,000. 4.49% of the stock is owned by hedge funds and other institutional investors.

ING Group Stock Up 1.0%

ING Group stock traded up $0.25 during mid-day trading on Friday, reaching $25.37. The stock had a trading volume of 1,795,967 shares, compared to its average volume of 2,773,104. The firm has a market capitalization of $79.85 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 1.83 and a beta of 1.10. ING Group has a fifty-two week low of $15.09 and a fifty-two week high of $25.43. The stock's 50-day simple moving average is $23.82 and its 200-day simple moving average is $21.42. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.12 and a current ratio of 1.12.

ING Group (NYSE:ING - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.05. The business had revenue of $6.55 billion for the quarter, compared to analysts' expectations of $6.40 billion. ING Group had a net margin of 27.28% and a return on equity of 11.62%. On average, sell-side analysts forecast that ING Group will post 2.14 EPS for the current fiscal year.

ING Group Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were given a $0.4002 dividend. This represents a yield of 450.0%. The ex-dividend date of this dividend was Monday, August 11th. ING Group's dividend payout ratio is presently 31.80%.

About ING Group

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.