Short Interest in ING Groep (NYSE:ING) Declines By 34.8%

ING Groep (NYSE:ING) saw a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 1,910,000 shares, a decline of 34.8% from the February 13th total of 2,930,000 shares. Based on an average daily trading volume, of 2,860,000 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.1% of the shares of the stock are short sold.

ING Groep Trading Up 2.4 %

ING Groep stock traded up $0.48 during trading hours on Friday, reaching $20.26. The company had a trading volume of 2,534,128 shares, compared to its average volume of 2,269,272. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.13 and a quick ratio of 1.13. The company has a 50-day moving average price of $17.26 and a 200 day moving average price of $16.89. The firm has a market cap of $70.86 billion, a price-to-earnings ratio of 9.46, a P/E/G ratio of 6.42 and a beta of 1.44. ING Groep has a 12-month low of $15.09 and a 12-month high of $20.79.

ING Groep (NYSE:ING) last announced its quarterly earnings results on Thursday, February 6th. The financial services provider reported $0.39 EPS for the quarter, missing analysts’ consensus estimates 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 forecast that ING Groep will post 2.14 earnings per share for the current year.

ING Groep Cuts Dividend

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On ING Groep

Several hedge funds have recently made changes to their positions in ING. Roxbury Financial LLC purchased a new position in shares of ING Groep during the fourth quarter valued at approximately $25,000. Brooklyn Investment Group increased its stake in shares of ING Groep by 184.8% during the fourth quarter. Brooklyn Investment Group now owns 1,860 shares of the financial services provider’s stock valued at $29,000 after buying an additional 1,207 shares during the period. Redwood Investments LLC purchased a new position in shares of ING Groep during the fourth quarter valued at approximately $41,000. Versant Capital Management Inc purchased a new position in shares of ING Groep during the fourth quarter valued at approximately $45,000. Finally, IFP Advisors Inc increased its stake in shares of ING Groep by 25.1% during the fourth 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 during the period. 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.