ING Groep (NYSE:ING) Reaches New 12-Month High - Still a Buy?

ING Groep (NYSE:ING - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $18.74 and last traded at $18.67, with a volume of 453208 shares traded. The stock had previously closed at $17.73.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley lowered ING Groep from an "overweight" rating to an "equal weight" rating in a research report on Tuesday, November 26th.

ING Groep Stock Performance

The company has a market cap of $64.26 billion, a P/E ratio of 8.58, a PEG ratio of 6.42 and a beta of 1.46. The company has a 50 day moving average price of $16.51 and a 200-day moving average price of $16.76. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.89.

ING Groep (NYSE:ING - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). ING Groep had a return on equity of 11.81% and a net margin of 28.30%. Equities analysts expect that ING Groep will post 2.14 EPS for the current fiscal year.

ING Groep Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, January 23rd. Stockholders of record on Monday, January 13th were paid a $0.1667 dividend. The ex-dividend date of this dividend was Monday, January 13th. This represents a dividend yield of 6.4%. ING Groep's payout ratio is 29.91%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ING. Private Advisor Group LLC boosted its stake in ING Groep by 25.2% during the third quarter. Private Advisor Group LLC now owns 20,853 shares of the financial services provider's stock valued at $379,000 after buying an additional 4,196 shares in the last quarter. Blue Square Asset Management LLC boosted its stake in ING Groep by 2.4% during the third quarter. Blue Square Asset Management LLC now owns 124,961 shares of the financial services provider's stock valued at $2,269,000 after buying an additional 2,959 shares in the last quarter. Verdence Capital Advisors LLC boosted its stake in ING Groep by 2.2% during the third quarter. Verdence Capital Advisors LLC now owns 51,547 shares of the financial services provider's stock valued at $936,000 after buying an additional 1,105 shares in the last quarter. Crossmark Global Holdings Inc. boosted its stake in ING Groep by 30.8% during the third quarter. Crossmark Global Holdings Inc. now owns 266,994 shares of the financial services provider's stock valued at $4,849,000 after buying an additional 62,801 shares in the last quarter. Finally, Zions Bancorporation N.A. boosted its stake in ING Groep by 42.2% during the third quarter. Zions Bancorporation N.A. now owns 52,427 shares of the financial services provider's stock valued at $952,000 after buying an additional 15,547 shares in the last quarter. Institutional investors 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.