Ready to Jump After Recent Trade: ING Groep N.V. (ING)

ING Groep N.V. (NYSE: ING) stock fell -2.37% on Friday to $9.48 against a previous-day closing price of $9.71. With 4.24 million shares changed hands, the volume of the stock remained lighter than its average volume of 4.86 million shares. During the session, the Banks – Diversified company that operates in wider Financial sector, reached to the highest price of $9.74 whereas the lowest price it dropped to was $9.48. The 52-week range on ING shows that it touched its highest point at $15.56 and its lowest point at $8.42 during that stretch. It currently has a 1-year price target of $15.40. With its current market cap of 36.14 billion, ING has annualized dividend of $1.40 while the current yield stands at 14.78%. Beta for the stock currently stands at 1.61.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ING was down-trending over the past week, with a drop of -1.04%, but this was up by 7.24% over a month. Three-month performance dropped to -10.65% while six-month performance fell -8.96%. The stock lost -26.39% in the past year, while it has lost -30.09% so far this year. A look at the trailing 12-month EPS for ING yields 1.02 with Next year EPS estimates of 1.44. For the next quarter, that number is 0.35. This implies an EPS growth rate of 92.70% for this year and 20.25% for next year. EPS is expected to grow by 13.30% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 2.50%.

Float and Shares Shorts:

At present, 3.77 billion ING shares are outstanding with a float of 3.75 billion shares on hand for trading. On Aug 30, 2022, short shares totaled 6.09 million, which was 0.16% higher than short shares on Jul 28, 2022. In addition to Mr. Steven J. A. van Rijswijk as the firm’s CEO and Chairman of the Exec. Board & Management Board Banking, Mr. Tanate Phutrakul serves as its CFO and Member of the Exec. Board & Management Board Banking.

Institutional Ownership:

Through their ownership of 4.51% of ING’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 4.29% of ING, in contrast to 0.14% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in ING with 1.49% of the stake, Fisher Asset Management LLC holds 56,078,825 shares worth 56,078,825. A second-largest stockholder of ING, MUFG Securities EMEA Plc, holds 11,680,100 shares, controlling over 0.31% of the firm’s shares. Aristotle Capital Management LLC is the third largest shareholder in ING, holding 7,419,552 shares or 0.20% stake. With a 0.03% stake in ING, the Orbis SICAV – Global Balanced Fun is the largest stakeholder. A total of 1,257,415 shares are owned by the mutual fund manager. The BLK Acciones Europa SA de CV Seri, which owns about 0.01% of ING stock, is the second-largest Mutual Fund holder. It holds 544,548 shares valued at 4.78 million. DFA International Core Equity Por holds 0.01% of the stake in ING, owning 446,134 shares worth 3.92 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. It generated $1.18B net income for the quarter, which came to $3.92B over the last twelve months.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ING since 22 analysts follow the stock currently. There are 14 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 7 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With ING analysts setting a high price target of $15.96 and a low target of $10.00, the average target price over the next 12 months is $13.46. Based on these targets, ING could surge 68.35% to reach the target high and rise by 5.49% to reach the target low. Reaching the average price target will result in a growth of 41.98% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. ING will report FY 2022 earnings on 02/02/2023. Analysts have provided yearly estimates in a range of $1.19 being high and $0.87 being low. For ING, this leads to a yearly average estimate of $1.08. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. ING Groep N.V. surprised analysts by $0.02 when it reported $0.32 EPS against a consensus estimate of $0.30. The surprise factor in the prior quarter was -$0.03. Based on analyst estimates, the high estimate for the next quarter is $0.37 and the low estimate is $0.30. The average estimate for the next quarter is thus $0.34.

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