Short Interest in ING Group, N.V. (NYSE:ING) Increases By 34.6%

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 target of a large growth in short interest in the month of August. As of August 15th, there was short interest totaling 5,800,000 shares, a growth 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 days-to-cover ratio is presently 2.3 days. Currently, 0.2% of the company's stock are sold short. Currently, 0.2% of the company's stock are sold short. Based on an average trading volume of 2,500,000 shares, the days-to-cover ratio is presently 2.3 days.

Analyst Ratings Changes

A number of analysts have recently weighed in on ING shares. Morgan Stanley raised ING Group from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, September 2nd. Barclays raised ING Group from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, ING Group currently has a consensus rating of "Moderate Buy".

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Legacy Advisors LLC acquired a new position in shares of ING Group during the 1st quarter worth about $28,000. Rexford Capital Inc. purchased a new stake in ING Group during the 2nd quarter valued at about $33,000. SBI Securities Co. Ltd. grew its stake in ING Group by 135.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,586 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 912 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in ING Group during the 2nd quarter valued at about $37,000. Finally, Maseco LLP purchased a new stake in ING Group during the 2nd quarter valued at about $48,000. Institutional investors and hedge funds own 4.49% of the company's stock.

ING Group Price Performance

Shares of ING stock traded up $0.25 during mid-day trading on Friday, hitting $25.37. 1,795,967 shares of the stock were exchanged, compared to its average volume of 2,781,635. The firm has a fifty day moving average of $23.76 and a 200 day moving average of $21.31. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.83. ING Group has a 52-week low of $15.09 and a 52-week high of $25.43. The company has a market cap of $79.85 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 1.78 and a beta of 1.10.

ING Group (NYSE:ING - Get Free Report) last posted its earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.05. ING Group had a net margin of 27.28% and a return on equity of 11.62%. The business had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.40 billion. Research analysts anticipate that ING Group will post 2.14 earnings per share for the current year.

ING Group Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were paid a dividend of $0.4002 per share. This represents a dividend 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%.

ING Group 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.