ING Groep N.V. [ING] Revenue clocked in at $21.43 billion, down -29.94% YTD: What’s Next?

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ING Groep N.V. [NYSE: ING] price plunged by -2.46 percent to reach at -$0.24. The company report on August 4, 2022 that ING posts 2Q2022 net result of €1,178 million, supported by increased income and modest risk costs.


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ING posts 2Q2022 net result of €1,178 million, supported by increased income and modest risk costs.

A sum of 3132115 shares traded at recent session while its average daily volume was at 5.63M shares. ING Groep N.V. shares reached a high of $9.56 and dropped to a low of $9.375 until finishing in the latest session at $9.50.

The one-year ING stock forecast points to a potential upside of 40.25. The average equity rating for ING stock is currently 2.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on ING Groep N.V. [ING]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ING shares is $15.90 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ING stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Barclays have made an estimate for ING Groep N.V. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on March 23, 2022. The new note on the price target was released on December 02, 2021, representing the official price target for ING Groep N.V. stock.

The Average True Range (ATR) for ING Groep N.V. is set at 0.27, with the Price to Sales ratio for ING stock in the period of the last 12 months amounting to 1.63. The Price to Book ratio for the last quarter was 0.66, with the Price to Cash per share for the same quarter was set at 79.47.

ING Stock Performance Analysis:

ING Groep N.V. [ING] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.73. With this latest performance, ING shares gained by 2.15% in over the last four-week period, additionally sinking by -36.75% over the last 6 months – not to mention a drop of -24.87% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ING stock in for the last two-week period is set at 48.31, with the RSI for the last a single of trading hit 49.33, and the three-weeks RSI is set at 47.40 for ING Groep N.V. [ING]. The present Moving Average for the last 50 days of trading for this stock 10.01, while it was recorded at 9.63 for the last single week of trading, and 12.10 for the last 200 days.

ING Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ING. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for ING Groep N.V. go to 13.30%.

ING Groep N.V. [ING] Insider Position Details

There are presently around $1,397 million, or 4.00% of ING stock, in the hands of institutional investors. The top three institutional holders of ING stocks are: FISHER ASSET MANAGEMENT, LLC with ownership of 51,706,217, which is approximately 6.733% of the company’s market cap and around 1.00% of the total institutional ownership; ARISTOTLE CAPITAL MANAGEMENT, LLC, holding 7,190,761 shares of the stock with an approximate value of $68.31 million in ING stocks shares; and BANK OF AMERICA CORP /DE/, currently with $63.52 million in ING stock with ownership of nearly -28.476% of the company’s market capitalization.

Positions in ING Groep N.V. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 159 institutional holders increased their position in ING Groep N.V. [NYSE:ING] by around 21,121,775 shares. Additionally, 150 investors decreased positions by around 14,454,601 shares, while 41 investors held positions by with 111,486,409 shares. The mentioned changes placed institutional holdings at 147,062,785 shares, according to the latest SEC report filing. ING stock had 48 new institutional investments in for a total of 3,247,908 shares, while 42 institutional investors sold positions of 5,167,436 shares during the same period.

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