Zions Bancorporation N.A. Cuts Position in ING Groep (NYSE:ING)

Zions Bancorporation N.A. reduced its position in ING Groep (NYSE:ING) by 12.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,880 shares of the financial services provider’s stock after selling 5,111 shares during the quarter. Zions Bancorporation N.A.’s holdings in ING Groep were worth $632,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ING. Financial Management Professionals Inc. grew its holdings in shares of ING Groep by 67.8% in the first quarter. Financial Management Professionals Inc. now owns 1,639 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 662 shares in the last quarter. Richardson Financial Services Inc. acquired a new position in shares of ING Groep in the fourth quarter worth $28,000. Summit Securities Group LLC acquired a new position in shares of ING Groep in the second quarter worth $31,000. Rothschild Investment LLC purchased a new stake in shares of ING Groep during the second quarter worth $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of ING Groep in the second quarter valued at $38,000. 4.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Barclays raised ING Groep from an “equal weight” rating to an “overweight” rating in a research note on Friday, June 7th.

ING Groep Stock Up 1.3 %

Shares of NYSE:ING opened at $18.24 on Friday. The company has a quick ratio of 1.12, a current ratio of 0.95 and a debt-to-equity ratio of 2.54. ING Groep has a fifty-two week low of $12.44 and a fifty-two week high of $18.66. The stock has a market cap of $63.81 billion, a price-to-earnings ratio of 8.07 and a beta of 1.52. The firm’s 50 day moving average price is $17.78 and its 200 day moving average price is $16.98.

ING Groep (NYSE:ING) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.58 earnings per share for the quarter. The business had revenue of $6.15 billion for the quarter. ING Groep had a net margin of 30.60% and a return on equity of 12.65%. During the same quarter in the previous year, the business posted $0.65 earnings per share. As a group, equities research analysts predict that ING Groep will post 2.02 earnings per share for the current fiscal year.

ING Groep Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, August 19th. Stockholders of record on Thursday, August 8th were issued a $0.8143 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a dividend yield of 5.9%. This is an increase from ING Groep’s previous semi-annual dividend of $0.70. ING Groep’s dividend payout ratio is presently 28.32%.

About ING Groep

ING Groep N.V. provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally. It operates through five segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking. The company accepts current and savings accounts.