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ING Groep N.V. (NYSE: ING) Stock: Does It Have The Potential To Rise?

In today’s recent session, 0.8 million shares of the ING Groep N.V. (NYSE:ING) have been traded, and its beta is 1.57. Most recently the company’s share price was $12.90, and it changed around -$0.13 or -0.96% from the last close, which brings the market valuation of the company to $47.43B. ING at last check was trading at a discount to its 52-week high of $14.72, offering almost -14.11% off that amount. The share price’s 52-week low was $8.14, which indicates that the recent value has risen by an impressive 36.9% since then. We note from ING Groep N.V.’s average daily trading volume that its 10-day average is 2.97 million shares, with the 3-month average coming to 4.40 million.

ING Groep N.V. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.00. If we narrow it down even further, the data shows that 0 out of 24 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 7 recommended ING as a Hold, whereas 16 deemed it a Buy, and 1 rated it as Underweight. ING Groep N.V. is expected to report earnings per share of $0 for the current quarter.

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ING Groep N.V. (NYSE:ING) trade information

Instantly ING has been showing red trend so far today with a performance of -0.96% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 13.19 on Tuesday, 05/23/23 increased the stock’s daily price by 2.2%. The company’s shares are currently up 6.04% year-to-date, but still down -0.81% over the last five days. On the other hand, ING Groep N.V. (NYSE:ING) is 4.24% down in the 30-day period. We can see from the shorts that 3.38 million shares have been sold at a short interest cover period of 0.91 day(s).

The consensus price target as assigned by Wall Street analysts is $16.87, which translates to bulls needing to increase their stock price by 23.53% from its current value. Analyst projections state that ING is forecast to be at a low of $12.64 and a high of $19.76. In order for the stock price to hit the forecast high, the stock would need to plunge -53.18% from its current level, while the stock would need to crash 2.02% from its current level to reach the projected low.

ING Groep N.V. (ING) estimates and forecasts

ING Groep N.V. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 10.87 percent over the past six months and at a 90.29% annual growth rate that is well above the industry average of 2.70%. The year-over-year growth rate is expected to be 16.50%, up from the previous year.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -4.30%. ING Groep N.V. earnings are expected to increase by -17.40% in 2023, but the outlook is positive 13.30% per year for the next five years.

ING Dividends

ING Groep N.V.’s next quarterly earnings report is expected to be released in June. The annual dividend yield of the stock is 7.15 percent and its annual dividend per share was 0.93. It is important to note, however, that the 7.15% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

ING Groep N.V. (NYSE:ING)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.00% of ING Groep N.V. shares, and 4.16% of them are in the hands of institutional investors. The stock currently has a share float of 4.16%. ING Groep N.V. stock is held by 377 institutions, with Fisher Asset Management, LLC being the largest institutional investor. By Mar 30, 2023, it held 1.52% of the shares, which is about 55.1 million shares worth $653.99 million.

Goldman Sachs Group Inc, with 0.22% or 8.01 million shares worth $95.1 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.

Avantis International Equity ETF and Trust For Professional Managers-PMC Diversified Equity Fund were the top two Mutual Funds as of Mar 30, 2023. The former held 0.66 million shares worth $7.88 million, making up 0.02% of all outstanding shares. On the other hand, Trust For Professional Managers-PMC Diversified Equity Fund held roughly 0.55 million shares worth around $6.5 million, which represents about 0.02% of the total shares outstanding.

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