ING Groep (NYSE:ING) Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of ING Groep (NYSE:ING) from a hold rating to a sell rating in a research report released on Wednesday, Zacks.com reports.

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. “

Other analysts have also issued reports about the stock. Exane BNP Paribas lowered shares of ING Groep from an outperform rating to a neutral rating in a research note on Friday, August 2nd. BNP Paribas lowered shares of ING Groep from an outperform rating to a neutral rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. upgraded shares of ING Groep from a neutral rating to an overweight rating in a research note on Wednesday, June 5th. Barclays assumed coverage on shares of ING Groep in a research note on Friday, June 14th. They set an underweight rating and a $11.15 price objective for the company. Finally, ValuEngine upgraded shares of ING Groep from a strong sell rating to a sell rating in a research note on Thursday, August 1st. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $12.58.

NYSE:ING opened at $9.51 on Wednesday. The firm has a market cap of $36.19 billion, a P/E ratio of 5.80, a P/E/G ratio of 3.28 and a beta of 1.29. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.13 and a current ratio of 0.96. ING Groep has a fifty-two week low of $9.22 and a fifty-two week high of $14.08. The firm has a 50-day simple moving average of $11.01 and a two-hundred day simple moving average of $11.82.

Large investors have recently added to or reduced their stakes in the business. Enterprise Financial Services Corp boosted its holdings in shares of ING Groep by 85.6% during the 1st quarter. Enterprise Financial Services Corp now owns 2,287 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 1,055 shares during the last quarter. JNBA Financial Advisors purchased a new stake in shares of ING Groep during the 1st quarter valued at about $32,000. Bessemer Group Inc. purchased a new stake in shares of ING Groep during the 2nd quarter valued at about $34,000. Zions Bancorporation N.A. purchased a new stake in shares of ING Groep during the 1st quarter valued at about $44,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new stake in shares of ING Groep during the 2nd quarter valued at about $43,000. Institutional investors and hedge funds own 3.23% of the company’s stock.

ING Groep Company Profile

ING Groep N.V., a financial institution, provides various banking products and services to individuals, small and medium-sized enterprises, and mid-corporates. It operates in Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking segments. The company accepts various deposits, such as current and savings accounts; and offers business lending products, as well as consumer lending products, such as residential mortgage loans, term loans, and revolver and personal loans.

Further Reading: Average Daily Trade Volume – ADTV

Get a free copy of the Zacks research report on ING Groep (ING)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for ING Groep (NYSE:ING)

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.