ING Groep N.V.

ING Groep N.V. (NYSE: ING) is a banking services company. Its operating segments are the Retail Netherlands, Retail Belgium, Retail Germany, Retail Other and Wholesale Banking.

Key Highlights

• The company reported a net interest income of EUR 3.39 billion in Q3FY21 (ended September 30, 2021) compared to EUR 3.33 billion in Q3FY20.
• ING reported a net income of EUR 1.37 billion in Q3FY21 from EUR 0.79 billion in Q3FY20.
• On December 14, 2021, ING reported that during the week of December 06, 2021, through December 10, 2021, it had repurchased 5,803,606 shares in accordance with the beginning of its EUR 1,744 million share buyback programme announced on October 01, 2021.
• Stock is currently trading between its crucial short-term as well as long-term 50-day and 200-day SMA support levels.
• Stock is currently leaning towards the higher end of the 52-week range of USD 8.66 to USD 15.65.
• ING's share price has increased 40.78% in the past twelve months.

Technical Price Chart (as of December 15, 2021). Analysis by Kalkine

Conclusion: Considering the significant surge in the stock price in the past twelve months, technical indicators, and associated risks, we recommend a "Avoid" rating on the stock at the closing price of USD 13.74, up 0.81% as of December 15, 2021.

*The reference data in this report has been partly sourced from REFINITIV.