ING Groep (NYSE:ING) to Issue $0.17 Semi-annual Dividend

ING Groep (NYSE:ING) declared a semi-annual dividend on Monday, January 6th,Wall Street Journal reports. Stockholders of record on Monday, January 13th will be paid a dividend of 0.1667 per share by the financial services provider on Thursday, January 23rd. This represents a dividend yield of 6.4%. The ex-dividend date of this dividend is Monday, January 13th.

ING Groep has a dividend payout ratio of 35.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect ING Groep to earn $2.14 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 35.5%.

ING Groep Stock Performance

NYSE:ING traded up $0.16 during trading on Monday, reaching $15.81. The company’s stock had a trading volume of 2,480,660 shares, compared to its average volume of 2,120,154. ING Groep has a 12 month low of $12.77 and a 12 month high of $18.72. The firm has a market cap of $55.31 billion, a price-to-earnings ratio of 7.09, a price-to-earnings-growth ratio of 5.97 and a beta of 1.47. The firm has a 50 day moving average of $15.79 and a 200-day moving average of $17.01. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13.

Analysts Set New Price Targets

ING has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft downgraded shares of ING Groep from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Citigroup upgraded ING Groep to a “strong-buy” rating in a research note on Thursday, October 17th. Morgan Stanley downgraded ING Groep from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, November 26th. Finally, Barclays cut ING Groep from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, October 22nd.

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.