ING Groep (NYSE:ING) Shares Gap Up - Here's What Happened

ING Groep (NYSE:ING - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $19.46, but opened at $20.06. ING Groep shares last traded at $20.20, with a volume of 694,177 shares traded.

Wall Street Analysts Forecast Growth

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

ING Groep Price Performance

The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market cap of $69.84 billion, a P/E ratio of 9.33, a P/E/G ratio of 6.42 and a beta of 1.44. The firm's fifty day moving average is $16.83 and its two-hundred day moving average is $16.82.

ING Groep (NYSE:ING - Get Free Report) last released its 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%. As a group, analysts anticipate that ING Groep will post 2.14 earnings per share for the current fiscal year.

ING Groep Cuts Dividend

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

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Hedge Funds Weigh In On ING Groep

Several institutional investors have recently bought and sold shares of the stock. Huntington National Bank lifted its stake in ING Groep by 1.7% in the 4th quarter. Huntington National Bank now owns 35,030 shares of the financial services provider's stock worth $549,000 after purchasing an additional 597 shares in the last quarter. IFP Advisors Inc grew its holdings in ING Groep by 25.1% during the 4th quarter. IFP Advisors Inc now owns 3,095 shares of the financial services provider's stock valued at $48,000 after buying an additional 621 shares in the last quarter. SRS Capital Advisors Inc. raised its holdings in shares of ING Groep by 20.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 3,985 shares of the financial services provider's stock worth $62,000 after acquiring an additional 665 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its position in shares of ING Groep by 1.8% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 41,553 shares of the financial services provider's stock valued at $651,000 after acquiring an additional 716 shares during the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its holdings in shares of ING Groep by 5.2% in the fourth quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 14,604 shares of the financial services provider's stock valued at $229,000 after purchasing an additional 722 shares in the last quarter. 4.49% of the stock is owned by hedge funds and other institutional investors.

About ING Groep

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.