why ING Groep N.V. [ING] is a Good Choice for Investors After New Price Target of $18.40

ING Groep N.V. [NYSE: ING] slipped around -0.56 points on Monday, while shares priced at $12.42 at the close of the session, down -4.31%. The company report on March 10, 2023 that ING to file 2022 Annual Report on Form 20-F.

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ING to file 2022 Annual Report on Form 20-F.

ING will today file its Annual Report on Form 20-F for the year ended 31 December 2022 with the United States Securities and Exchange Commission (SEC). The 2022 Form 20-F will be available on the ING website and can be downloaded from the SEC website (sec.gov) later today. Shareholders or holders of ADRs can also request a hard copy of ING’s audited financial statements, free of charge, at www.ing.com/Investor-relations/Financial-performance/Annual-reports.htm.

ING Groep N.V. stock is now 2.05% up from its year-to-date (YTD) trading value. ING Stock saw the intraday high of $12.69 and lowest of $12.24 per share. The company’s 52-week high price is 14.72, which means current price is +1.47% above from all time high which was touched on 02/01/23.

Compared to the average trading volume of 3.69M shares, ING reached a trading volume of 14621411 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $18.40 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 2.30. 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 0.34, with the Price to Sales ratio for ING stock in the period of the last 12 months amounting to 3.37. The Price to Book ratio for the last quarter was 0.82, with the Price to Cash per share for the same quarter was set at 63.57.

How has ING stock performed recently?

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 -13.33. With this latest performance, ING shares dropped by -11.54% in over the last four-week period, additionally plugging by 35.44% over the last 6 months – not to mention a rise of 28.92% 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 30.89, with the RSI for the last a single of trading hit 22.63, and the three-weeks RSI is set at 37.15 for ING Groep N.V. [ING]. The present Moving Average for the last 50 days of trading for this stock 13.63, while it was recorded at 13.34 for the last single week of trading, and 11.00 for the last 200 days.

Earnings analysis for ING Groep N.V. [ING]

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%.

Insider trade positions for ING Groep N.V. [ING]

There are presently around $1,979 million, or 4.20% 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 53,466,436, which is approximately 3.713% of the company’s market cap and around 1.00% of the total institutional ownership; GOLDMAN SACHS GROUP INC, holding 7,529,568 shares of the stock with an approximate value of $93.52 million in ING stocks shares; and MUFG SECURITIES EMEA PLC, currently with $93.15 million in ING stock with ownership of nearly New of the company’s market capitalization.

175 institutional holders increased their position in ING Groep N.V. [NYSE:ING] by around 17,299,347 shares. Additionally, 133 investors decreased positions by around 18,719,339 shares, while 45 investors held positions by with 123,318,241 shares. The mentioned changes placed institutional holdings at 159,336,927 shares, according to the latest SEC report filing. ING stock had 59 new institutional investments in for a total of 9,076,399 shares, while 33 institutional investors sold positions of 1,550,363 shares during the same period.


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