Short Interest in ING Group, N.V. (NYSE:ING) Drops By 43.9%

Key Points

• Short interest fell 43.9% to 1,571,815 shares as of Feb. 27, equal to about 0.1% of shares outstanding and a days-to-cover ratio of roughly 0.6 days, signaling reduced bearish positioning.
• Analyst sentiment is broadly positive with an average "Buy" rating (2 Strong Buy, 6 Buy, 1 Hold) and recent upgrades from Citigroup, Deutsche Bank and Zacks.
• Shares traded down 3.4% to $26.26 after the quarter in which EPS beat ($0.56 vs. $0.50) but revenue missed ($4.61B vs. $6.67B); the company also announced a $0.8796 dividend (ex-dividend Apr. 17, payable May 1).

ING Group, N.V. (NYSE:ING - Get Free Report) was the target of a large drop in short interest during the month of February. As of February 27th, there was short interest totaling 1,571,815 shares, a drop of 43.9% from the February 12th total of 2,804,078 shares. Based on an average trading volume of 2,488,643 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.1% of the company's shares are sold short. Currently, 0.1% of the company's shares are sold short. Based on an average trading volume of 2,488,643 shares, the days-to-cover ratio is presently 0.6 days.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ING. Citigroup upgraded ING Group to a "strong-buy" rating in a research report on Friday, November 21st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of ING Group in a research note on Monday, December 29th. Jefferies Financial Group initiated coverage on shares of ING Group in a report on Tuesday, January 27th. They set a "hold" rating for the company. Deutsche Bank Aktiengesellschaft raised shares of ING Group from a "hold" rating to a "buy" rating in a research report on Monday, February 2nd. Finally, Zacks Research raised shares of ING Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, February 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy".

ING Group Trading Down 3.4%

Shares of NYSE:ING traded down $0.92 on Thursday, hitting $26.26. The company had a trading volume of 2,223,582 shares, compared to its average volume of 2,847,011. The firm's 50-day simple moving average is $28.87 and its two-hundred day simple moving average is $26.72. The firm has a market capitalization of $76.43 billion, a price-to-earnings ratio of 10.99, a P/E/G ratio of 0.88 and a beta of 0.78. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.73. ING Group has a 1 year low of $16.47 and a 1 year high of $31.17.

ING Group (NYSE:ING - Get Free Report) last announced its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.06. ING Group had a net margin of 27.50% and a return on equity of 12.05%. The company had revenue of $4.61 billion for the quarter, compared to analysts' expectations of $6.67 billion. Equities analysts anticipate that ING Group will post 2.14 earnings per share for the current fiscal year.

ING Group Dividend Announcement

The company also recently announced a dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 17th will be paid a $0.8796 dividend. This represents a dividend yield of 589.0%. The ex-dividend date is Friday, April 17th. ING Group's dividend payout ratio (DPR) is presently 62.34%.

Hedge Funds Weigh In On ING Group

Institutional investors have recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC boosted its holdings in shares of ING Group by 4.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 8,734 shares of the financial services provider's stock valued at $245,000 after buying an additional 361 shares in the last quarter. Aprio Wealth Management LLC increased its stake in shares of ING Group by 1.6% in the 4th quarter. Aprio Wealth Management LLC now owns 23,240 shares of the financial services provider's stock worth $651,000 after acquiring an additional 370 shares in the last quarter. Quadrant Capital Group LLC lifted its position in ING Group by 0.4% during the 4th quarter. Quadrant Capital Group LLC now owns 106,170 shares of the financial services provider's stock valued at $2,973,000 after acquiring an additional 374 shares during the period. Binnacle Investments Inc lifted its position in ING Group by 57.0% during the 3rd quarter. Binnacle Investments Inc now owns 1,088 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 395 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in ING Group by 0.6% during the third quarter. Advisors Asset Management Inc. now owns 63,613 shares of the financial services provider's stock worth $1,659,000 after acquiring an additional 397 shares in the last quarter. Institutional investors own 4.49% of the company's stock.

ING Group Company Profile

ING Group N.V. is a Dutch multinational financial services company headquartered in Amsterdam. Formed through the consolidation of Dutch financial businesses, ING operates as a banking and financial services group that serves retail, small and medium-sized enterprises, large corporates and institutional clients. The company is organized under a two-tier governance model common in the Netherlands, with an Executive Board responsible for day-to-day management and a Supervisory Board providing oversight.

ING's principal activities include retail and direct banking, commercial and wholesale banking, corporate lending, transaction services and cash management, and a range of investment and savings products.

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