ING Groep (NYSE:ING) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage currently has a $22.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 8.64% from the company’s previous close.
According to Zacks, “ING GROEP-ADR is a global financial institution of Dutch origin offering banking, insurance and asset management to over 50 million private, corporate and institutional clients in 65 countries. ING can fully deliver what today’s clients expect: unlimited access, maximum convenience, immediate and accurate execution, personal advice, tailor-made solutions and competitive rates. “
Several other equities analysts have also recently weighed in on the company. ValuEngine raised ING Groep from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. UBS Group reissued a “buy” rating on shares of ING Groep in a report on Monday, December 11th. Goldman Sachs Group reissued a “buy” rating on shares of ING Groep in a report on Wednesday, December 6th. Finally, Deutsche Bank reissued a “buy” rating on shares of ING Groep in a report on Thursday, October 12th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $18.50.
ING Groep (NYSE:ING) last released its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $0.41 earnings per share for the quarter. ING Groep had a return on equity of 11.06% and a net margin of 26.20%. analysts expect that ING Groep will post 1.62 EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the stock. Fox Run Management L.L.C. bought a new position in ING Groep in the 4th quarter worth $590,000. Wasatch Advisors Inc. raised its holdings in ING Groep by 85.4% in the 4th quarter. Wasatch Advisors Inc. now owns 420,039 shares of the financial services provider’s stock worth $7,754,000 after purchasing an additional 193,539 shares during the period. Bank of Montreal Can raised its holdings in ING Groep by 26.2% in the 4th quarter. Bank of Montreal Can now owns 91,838 shares of the financial services provider’s stock worth $1,695,000 after purchasing an additional 19,071 shares during the period. YHB Investment Advisors Inc. bought a new position in ING Groep in the 4th quarter worth $552,000. Finally, Atria Investments LLC raised its holdings in ING Groep by 25.5% in the 4th quarter. Atria Investments LLC now owns 20,360 shares of the financial services provider’s stock worth $376,000 after purchasing an additional 4,137 shares during the period. 2.96% of the stock is currently owned by institutional investors.
COPYRIGHT VIOLATION WARNING: This piece was first published by Ticker Report and is the sole property of of Ticker Report. If you are reading this piece on another site, it was copied illegally and reposted in violation of international copyright law. The correct version of this piece can be viewed at https://www.tickerreport.com/banking-finance/3144578/ing-groep-ing-rating-increased-to-buy-at-zacks-investment-research.html.
About ING Groep
ING Groep N.V. (ING) is a financial institution. The Company offers banking services. The Company’s segments include Retail Netherlands, which offers current and savings accounts, business lending, mortgages and other consumer lending in the Netherlands; Retail Belgium, which offers products that are similar to those in the Netherlands; Retail Germany, which offers current and savings accounts, mortgages and other customer lending; Retail Other, which offers products that are similar to those in the Netherlands, and Wholesale Banking, which offers wholesale banking activities (a full range of products from cash management to corporate finance), real estate and lease.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ING Groep Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ING Groep and related companies with MarketBeat.com's FREE daily email newsletter.