ING Groep (NYSE:ING) Stock Rating Lowered by Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft cut shares of ING Groep (NYSE:ING) from a buy rating to a hold rating in a research report report published on Wednesday morning, Marketbeat reports.

ING Groep Price Performance

ING stock opened at $17.41 on Wednesday. ING Groep has a 12 month low of $12.44 and a 12 month high of $18.72. The company has a current ratio of 0.95, a quick ratio of 1.12 and a debt-to-equity ratio of 2.54. The company has a 50-day moving average price of $17.70 and a 200 day moving average price of $17.42. The stock has a market cap of $60.90 billion, a PE ratio of 7.95 and a beta of 1.52.

ING Groep (NYSE:ING) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.58 EPS for the quarter. ING Groep had a net margin of 30.60% and a return on equity of 12.65%. The firm had revenue of $6.15 billion during the quarter. During the same period in the prior year, the firm posted $0.65 earnings per share. Equities research analysts anticipate that ING Groep will post 2.04 earnings per share for the current year.

ING Groep Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Monday, August 19th. Investors of record on Thursday, August 8th were paid a dividend of $0.8143 per share. The ex-dividend date was Thursday, August 8th. This is a boost from ING Groep’s previous semi-annual dividend of $0.70. This represents a dividend yield of 5.9%. ING Groep’s payout ratio is currently 29.68%.

Hedge Funds Weigh In On ING Groep

A number of large investors have recently made changes to their positions in ING. Financial Management Professionals Inc. boosted its position in ING Groep by 67.8% in the 1st quarter. Financial Management Professionals Inc. now owns 1,639 shares of the financial services provider’s stock valued at $27,000 after buying an additional 662 shares during the period. Richardson Financial Services Inc. purchased a new stake in ING Groep in the 4th quarter valued at about $28,000. Summit Securities Group LLC purchased a new stake in ING Groep in the 2nd quarter valued at about $31,000. Rothschild Investment LLC purchased a new stake in ING Groep in the 2nd quarter valued at about $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in ING Groep in the 2nd quarter valued at about $38,000. 4.49% of the stock is owned by hedge funds and other institutional investors.

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.