Short-term stake in ING Groep (NYSE: ING) increases by 97.1%

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ING Group (NYSE: ING – Get a rating) benefited from a significant increase in short-term interest in April. As of April 30, there was short interest totaling 4,730,000 shares, an increase of 97.1% from the total of 2,400,000 shares as of April 15. Based on an average daily trading volume of 7,940,000 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.1% of the company’s shares are sold short.

A number of hedge funds and other institutional investors have recently changed their positions in the company. Spire Wealth Management bought a new equity stake in ING Groep during Q4 for $26,000. CWM LLC purchased a new stake in ING Groep during the fourth quarter worth approximately $30,000. UMB Bank NA MO bought a new stake in ING Groep during the fourth quarter worth approximately $38,000. Farmers & Merchants Investments Inc. increased its stake in ING Groep shares by 80.6% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 3,199 shares of the financial services provider worth $33,000 after buying 1,428 additional shares in the last quarter. Finally, Harbor Investment Advisory LLC purchased a new position in ING Groep stock during Q4 worth approximately $55,000. Institutional investors and hedge funds hold 9.33% of the company’s shares.

Shares of ING Groep rose $0.29 during Friday’s trading, hitting $9.70. The stock recorded a trading volume of 9,920,384 shares, compared to an average volume of 7,164,362 shares. The company has a current ratio of 1.10, a quick ratio of 1.08 and a debt ratio of 1.83. ING Groep has a 12-month low of $8.97 and a 12-month high of $15.97. The company has a market capitalization of $37.84 billion, a price/earnings ratio of 7.35, a P/E/G ratio of 0.62 and a beta of 1.76. The company’s 50-day moving average is $10.07 and its 200-day moving average is $12.86.

The company also recently announced a dividend, which will be paid on Wednesday, May 25. Investors of record on Monday, May 16 will receive a dividend of $0.2452 per share. This represents a return of 11.6%. The ex-dividend date is Friday, May 13. ING Groep’s payout ratio is 57.03%.

ING has been the subject of several research reports. JPMorgan Chase & Co. cut its price target on ING Groep from €15.00 ($15.79) to €12.70 ($13.37) in a Monday, March 14 research note. Berenberg Bank cut its price target on ING Groep shares from €14.50 ($15.26) to €13.00 ($13.68) in a Wednesday, April 20 research note. Deutsche Bank Aktiengesellschaft lowered its price target on ING Groep shares from €15.00 ($15.79) to €13.00 ($13.68) and set a “buy” rating on the stock in a research note from Wednesday, April 13. Barclays upgraded ING Groep shares from an “underweight” to an “equally weighted” rating in a Wednesday, March 23 research note. Finally, UBS Group raised its price target on ING Groep from €15.30 ($16.11) to €15.90 ($16.74) and gave the stock a “buy” rating in a research report on Monday. One analyst rated the stock with a sell rating, seven issued a hold rating and five gave the company’s stock a buy rating. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $13.19.

ING Group Company Profile (Get a rating)

ING Groep NV, a financial institution, offers various banking products and services in the Netherlands, Belgium, Germany, Poland, the 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.

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