Zacks Investment Research upgraded shares of ING Groep (NYSE:ING) from a hold rating to a buy rating in a report issued on Friday morning. Zacks Investment Research currently has $21.00 price target on the financial services provider’s stock.

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. “

A number of other equities analysts have also commented on ING. Deutsche Bank reissued a buy rating on shares of ING Groep in a research report on Thursday, October 12th. ValuEngine raised shares of ING Groep from a buy rating to a strong-buy rating in a research report on Friday, December 1st. Goldman Sachs Group reissued a buy rating on shares of ING Groep in a research report on Wednesday, December 6th. Finally, UBS Group reaffirmed a buy rating on shares of ING Groep in a research report on Monday, December 11th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. ING Groep currently has an average rating of Buy and a consensus price target of $18.00.

ING Groep (ING) opened at $18.32 on Friday. ING Groep has a 52-week low of $13.63 and a 52-week high of $20.58. The company has a market cap of $70,150.00, a P/E ratio of 11.90, a PEG ratio of 1.42 and a beta of 1.20. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.09 and a quick ratio of 1.09.

A number of hedge funds have recently made changes to their positions in ING. Bank of New York Mellon Corp increased its position in ING Groep by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 109,693 shares of the financial services provider’s stock worth $1,907,000 after acquiring an additional 5,175 shares during the period. Cubist Systematic Strategies LLC boosted its stake in ING Groep by 190.3% during the second quarter. Cubist Systematic Strategies LLC now owns 42,672 shares of the financial services provider’s stock worth $742,000 after buying an additional 27,972 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in ING Groep by 17.8% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 18,684 shares of the financial services provider’s stock worth $325,000 after buying an additional 2,819 shares in the last quarter. Krilogy Financial LLC acquired a new stake in ING Groep during the second quarter worth $127,000. Finally, Schafer Cullen Capital Management Inc. boosted its stake in ING Groep by 12.3% during the second quarter. Schafer Cullen Capital Management Inc. now owns 4,589,005 shares of the financial services provider’s stock worth $79,803,000 after buying an additional 504,416 shares in the last quarter. 3.03% of the stock is currently owned by institutional investors and hedge funds.

WARNING: “ING Groep (ING) Stock Rating Upgraded by Zacks Investment Research” was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece on another website, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece can be read at https://www.thecerbatgem.com/2018/02/13/ing-groep-ing-stock-rating-upgraded-by-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.

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

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.