Zions Bancorporation N.A. Has $1.34 Million Stake in ING Groep (NYSE:ING)

Zions Bancorporation N.A. grew its position in ING Groep (NYSE:ING) by 63.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 85,579 shares of the financial services provider’s stock after purchasing an additional 33,152 shares during the quarter. Zions Bancorporation N.A.’s holdings in ING Groep were worth $1,341,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in ING Groep during the fourth quarter valued at $14,375,000. Guardian Partners Inc. acquired a new position in shares of ING Groep in the 4th quarter valued at about $11,730,000. ABC Arbitrage SA bought a new stake in shares of ING Groep during the 4th quarter valued at about $10,129,000. Public Employees Retirement System of Ohio acquired a new stake in ING Groep during the third quarter worth approximately $9,924,000. Finally, Massachusetts Financial Services Co. MA bought a new stake in ING Groep in the third quarter worth approximately $2,428,000. 4.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley cut ING Groep from an “overweight” rating to an “equal weight” rating in a report on Tuesday, November 26th.

ING Groep Trading Up 2.7 %

ING opened at $20.30 on Wednesday. The company has a fifty day moving average price of $17.87 and a two-hundred day moving average price of $17.00. ING Groep has a 1-year low of $15.09 and a 1-year high of $20.79. The company has a market cap of $71.01 billion, a P/E ratio of 9.49, a price-to-earnings-growth ratio of 6.42 and a beta of 1.44. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.89.

ING Groep (NYSE:ING) last posted its quarterly earnings results on Thursday, February 6th. The financial services provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). ING Groep had a return on equity of 11.81% and a net margin of 28.30%. Analysts predict that ING Groep will post 2.14 EPS for the current fiscal year.

ING Groep Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, January 23rd. Investors of record on Monday, January 13th were given a $0.1667 dividend. This represents a yield of 6.4%. The ex-dividend date was Monday, January 13th. ING Groep’s payout ratio is currently 29.91%.

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.