ING Groep (NYSE:ING) Short Interest Up 20.0% in November
ING Groep (NYSE:ING – Get Free Report) was the target of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 3,960,000 shares, an increase of 20.0% from the October 31st total of 3,300,000 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average trading volume of 3,120,000 shares, the days-to-cover ratio is presently 1.3 days.
Wall Street Analyst Weigh In
Separately, StockNews.com initiated coverage on ING Groep in a report on Thursday, October 5th. They issued a “hold” rating for the company.
View Our Latest Research Report on ING
ING Groep Price Performance
Shares of ING stock traded up $0.05 during midday trading on Friday, reaching $14.13. 5,858,520 shares of the company traded hands, compared to its average volume of 2,770,220. The firm’s 50 day simple moving average is $13.28 and its two-hundred day simple moving average is $13.59. The firm has a market cap of $52.66 billion, a PE ratio of 6.93, a price-to-earnings-growth ratio of 0.17 and a beta of 1.58. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.11 and a quick ratio of 1.11. ING Groep has a 1-year low of $11.00 and a 1-year high of $14.99.
ING Groep (NYSE:ING – Get Free Report) last posted its earnings results on Thursday, November 2nd. The financial services provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. ING Groep had a return on equity of 12.41% and a net margin of 31.06%. The company had revenue of $6.36 billion for the quarter, compared to the consensus estimate of $6.11 billion. On average, equities research analysts expect that ING Groep will post 2.24 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. Clear Street Markets LLC boosted its stake in shares of ING Groep by 570.3% during the 3rd quarter. Clear Street Markets LLC now owns 2,011 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 1,711 shares during the last quarter. Brown Brothers Harriman & Co. boosted its position in ING Groep by 143.3% during the first quarter. Brown Brothers Harriman & Co. now owns 2,530 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 1,490 shares during the last quarter. Smithfield Trust Co purchased a new stake in ING Groep in the 1st quarter worth approximately $42,000. NBC Securities Inc. acquired a new position in ING Groep in the 3rd quarter valued at $43,000. Finally, BOKF NA purchased a new position in shares of ING Groep during the 1st quarter worth $52,000. 4.41% of the stock is owned by hedge funds and other institutional investors.
About ING Groep (Get Free Report)
ING Groep N.V., a financial institution, provides various banking products and services in the Netherlands, Belgium, Rest of Europe, North America, Latin America, Asia, and Australia. It operates in six segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, Wholesale Banking, and Corporate Line Banking.
Further Reading
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Original: MarketBeat News Feed: ING Groep (NYSE:ING) Short Interest Up 20.0% in November