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ING Groep N.V.NYSE:ING Stock Report

Market Cap US$83.2b
Share Price
US$29.27
US$32.61
10.2% undervalued intrinsic discount
1Y38.8%
7D-5.6%
1D
Portfolio Value
View

ING Groep N.V.

NYSE:ING Stock Report

Market Cap: US$83.2b

ING Groep (ING) Stock Overview

Provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally. More details

ING fundamental analysis
Snowflake Score
Valuation5/6
Future Growth0/6
Past Performance4/6
Financial Health4/6
Dividends5/6

ING Community Fair Values

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See what 16 others think this stock is worth. Follow their fair value or set your own to get alerts.

ING Groep N.V. Competitors

Price History & Performance

Summary of share price highs, lows and changes for ING Groep
Historical stock prices
Current Share Price€29.27
52 Week High€31.40
52 Week Low€20.39
Beta0.90
1 Month Change-2.82%
3 Month Change7.69%
1 Year Change38.79%
3 Year Change123.78%
5 Year Change113.65%
Change since IPO150.17%

Recent News & Updates

Seeking Alpha Apr 13

ING Groep: I Like The Stock, But Not At This Price

Summary ING Groep N.V. updated its guidance, providing a stable outlook, reiterating income and cost guidance despite macro uncertainties. ING trades at 1.4x book value, reflecting a targeted ROTE of 14% for 2026; the current valuation appears fair. Dividend yield remains attractive at ~5%, with potential for further buybacks pending the Q1 results update on April 30. I maintain a Hold rating as upside depends on ING increasing profitability amid economic and geopolitical risks. Read the full article on Seeking Alpha

Recent updates

Seeking Alpha Apr 13

ING Groep: I Like The Stock, But Not At This Price

Summary ING Groep N.V. updated its guidance, providing a stable outlook, reiterating income and cost guidance despite macro uncertainties. ING trades at 1.4x book value, reflecting a targeted ROTE of 14% for 2026; the current valuation appears fair. Dividend yield remains attractive at ~5%, with potential for further buybacks pending the Q1 results update on April 30. I maintain a Hold rating as upside depends on ING increasing profitability amid economic and geopolitical risks. Read the full article on Seeking Alpha
Seeking Alpha Feb 19

ING Groep: An Ambitious ROE Target Of Over 14% For 2027

Summary If we exclude the volatile Other income category, ING Groep relies on net interest income for 79% of its revenues - a key concern during ECB monetary policy normalization. Lower NII and a normalizing cost of risk resulted in ING reporting a return on equity of 13% in 2024, below the exceptional 14.8% result in 2023. The bank's ROE is forecast at above 12% in 2025, impacted by higher costs and the ongoing effects of ECB rate cuts on NII. Looking ahead to 2027, ING expects ROE to improve to over 14%, driven by business growth and higher net commission income, as well as a smaller capital buffer. While not prohibitively expensive relative to broad European or U.S. financial ETFs, I think ING is still a Hold given the near-term impact of Russia's exit and stiff competition for commission income. Read the full article on Seeking Alpha
Seeking Alpha Feb 07

ING Groep: So-So Q4 Results, But Shares Still Offer An Attractive Total Yield

Summary Shares of ING Groep N.V. have been pretty soft since my last update, trailing the wider European financials space. Fourth quarter net income missed sell-side expectations, with lower Eurozone interest rates weighing on the bank's deposit margin. The core capital returns story remains in place here - with 2025 set to be another bumper year for dividends and buybacks. Read the full article on Seeking Alpha
Seeking Alpha Nov 28

ING Groep: Big Shareholder Yield, Sluggish EPS Growth, Downbeat P/E

Summary I maintain a buy rating on ING Groep due to its undervaluation, despite technical risks and modest earnings growth expectations. ING's Q3 2024 performance showed strong ROE, CET1 ratio, and a 17% shareholder return, with a forward dividend yield of 7.8%. The bank's revenue and EPS growth are forecasted to be modest, justifying a low P/E multiple, but shares trade below book value. Key risks include sluggish Euro Area growth, unfavorable interest rates, and potential global macroeconomic slowdown impacting ING's outlook. Read the full article on Seeking Alpha
Seeking Alpha Oct 31

ING Groep: Mixed Q3 But Welcome Progress On Capital Returns

Summary ING Groep N.V. reported third-quarter earnings today, beating consensus on the bottom line. The bank announced an extra €2.5 billion in capital returns to shareholders, with its capital ratio slowly working its way toward management's 2025 target. The stock has dipped back below tangible book value. With the bank's return on tangible equity still comfortably in the double digits, the valuation remains attractive. Read the full article on Seeking Alpha
Seeking Alpha Aug 21

ING Groep: There Are Better Income Alternatives In The European Banking Sector

Summary ING Groep N.V. reported Q2 earnings showing rates are now a headwind for growth, leading to a premium valuation. Despite strong fundamentals and high dividend yield, ING's revenue decline and cost pressures make it less attractive for investment. ING's profitability is expected to decline in the near future, with uncertain macroeconomic conditions potentially impacting earnings growth. Read the full article on Seeking Alpha
Seeking Alpha Jul 15

With Rate Cycle Benefits In The Rearview Mirror, Further Progress At ING Groep Will Be Harder

Summary ING Groep's restructuring efforts paid off in 2023, as the bank leveraged higher rates to generate better core earnings and outperform its sector. Second quarter results should be positive, with potential upside in revenue from both net interest income and core fees, but opex is a key watch item. Management has set ambitious growth targets; loans will have to grow around 4%, and fees will have to grow around 7%-8% to meet targets, and that could prove too ambitious. ING is in a position to return substantial amounts of capital to shareholders, but I could see a limited amount of capital going toward M&A to boost fee-generating businesses. I still believe ING Groep is a top-tier bank, but I struggle to drive a truly comparing fair value unless the bank can meaningfully outperform my long-term 3% core growth expectations. Read the full article on Seeking Alpha
Seeking Alpha May 03

ING Groep: Strong Capital Returns Ahead

Summary ING Groep remains an interesting income pick in the European banking sector due to its excess capital position. The benefit of high interest rates is likely to have reached its peak for ING. ING's recent financial performance has been supported by rising interest rates, but its net interest income is expected to decline in the future. Read the full article on Seeking Alpha
Seeking Alpha Feb 02

ING: Still Too Cheap Despite Disappointing Results

Summary ING has underperformed since prior coverage, with weak Q4 2023 results and 2024 guidance driving a big chunk of that. Though net interest income will be weaker than anticipated, the bank should still post solid profitability even assuming modestly lower interest rates and more normal levels of provisioning. Relative to tangible book value, these shares are cheaper than when interest rates were zero, which continues to look puzzling given the bank's step-up in profitability. Catalysts for a re-rate are admittedly few, though capital returns potential remains compelling through 2025. Read the full article on Seeking Alpha
Seeking Alpha Jan 24

ING Groep: Options Can Boost Your Returns As The ECB Is Set To Cut Rates

Summary ING's net interest income was boosted by ECB rate hikes, with a confluence of factors likely making 2023 a peak for the bank's profitability. The ECB is set to start cutting rates, impacting ROE by between 0.9% and 2.7% depending on the magnitude of the cuts. With expected rate cuts, ING's net interest income will decrease, but the 12% ROE target seems sustainable. Selling covered calls can be a way to generate extra income. The main risk to the covered call strategy is a recession accompanied, with 0% interest rates, severely impacting ING's net interest income. Read the full article on Seeking Alpha
Seeking Alpha Dec 24

ING Groep: A European Dividend Standout, Buying Back Stock

Summary European stocks offer a potentially better value compared to the US market, with the Euro Area trading at just 12.3 times NTM EPS estimates. ING Groep is a European bank that has performed well recently, with strong Q3 earnings, a 2.5 billion euro buyback program, and a yield north of 5%. ING has attractive valuation metrics, with a high dividend yield and potential for future growth. Technical indicators suggest a bullish breakout potential. Read the full article on Seeking Alpha
Seeking Alpha Nov 21

Dutch Bank ING Groep Roars With Strong Buy Rating And 5.4% Dividend Yield

Summary ING and its ADR trading in the US gets Strong Buy rating, in line with Wall Street consensus. Some positives include 5.4% dividend yield and growth, earnings and revenue growth, and a price return beating the S&P 500 index. The risk of loan loss provisions is on the decline. The firm is a global banking sector leader with 37MM customers. Read the full article on Seeking Alpha
Seeking Alpha Sep 01

ING Groep: The Market Is Skeptical Of Its Earnings Power

Summary Higher Eurozone base rates and stable levels of bad debt have landed ING in a sweet spot after years of chronically low earnings. The bank is now generating a strong double-digit return on tangible equity yet the market continues to price these shares below tangible book value. A return to the levels of earnings power seen in the past decade is something to consider, but even so these shares would remain inexpensive. Read the full article on Seeking Alpha
Seeking Alpha Jun 22

ING Groep Is Another Buy Opportunity

Summary ING Groep reported solid profit thanks to net interest income development, lower regulatory costs, and low provisions. The bank announced a €1.5 billion buyback, but we are forecasting a higher share repurchase program. We see solid progress towards ING's 2025 financial targets. The company is now a buy. Read the full article on Seeking Alpha
Seeking Alpha May 26

ING Groep: High-Dividend Yield Stock For Income Investors

Summary ING Groep is one of the best European banks due to strong fundamentals, an excess capital position, and a high-dividend yield. The rising interest rate environment is a strong support for earnings and dividend growth. ING offers a high-dividend yield that is sustainable over the long term. Read the full article on Seeking Alpha
Seeking Alpha Feb 02

ING Group reports Q4 results

ING Group press release (NYSE:ING): Q4 Total income of €4.87B, up 5% from last year. Net interest income of €3.86B (+17% Y/Y). The net interest margin was 1.36%. Investment income was fl at year-on-year at €15 million and lower sequentially. Net core deposits growth – which excludes FX impacts and movements in Treasury deposits as well as in the run-off portfolios – was €7.2 billion in 4Q2022. Profit before tax up 29% on 4Q2021 and 24% on 3Q2022, mainly driven by higher income Higher net interest income, as a further increase in liability margins helped off set TLTRO impact this quarter Risk costs declined to 17 bps of average customer lending

Shareholder Returns

INGUS BanksUS Market
7D-5.6%3.6%-2.7%
1Y38.8%20.6%22.5%

Return vs Industry: ING exceeded the US Banks industry which returned 20.6% over the past year.

Return vs Market: ING exceeded the US Market which returned 22.5% over the past year.

Price Volatility

Is ING's price volatile compared to industry and market?
ING volatility
ING Average Weekly Movement4.5%
Banks Industry Average Movement3.2%
Market Average Movement7.2%
10% most volatile stocks in US Market16.6%
10% least volatile stocks in US Market3.1%

Stable Share Price: ING has not had significant price volatility in the past 3 months compared to the US market.

Volatility Over Time: ING's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
176260,000Steven J. van Rijswijkwww.ing.com

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

ING Groep N.V. Fundamentals Summary

How do ING Groep's earnings and revenue compare to its market cap?
ING fundamental statistics
Market capUS$83.16b
Earnings (TTM)US$9.73b
Revenue (TTM)US$28.41b
8.6x
P/E Ratio
1.4x
P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
ING income statement (TTM)
Revenue€24.61b
Cost of Revenue€0
Gross Profit€24.61b
Other Expenses€16.19b
Earnings€8.43b

Last Reported Earnings

Mar 31, 2026

Next Earnings Date

Jul 30, 2026

Earnings per share (EPS)2.94
Gross Margin100.00%
Net Profit Margin34.23%
Debt/Equity Ratio492.1%

How did ING perform over the long term?

See historical performance and comparison

Dividends

5.0%
Current Dividend Yield
39%
Payout Ratio

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/09 03:35
End of Day Share Price 2026/06/09 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

ING Groep N.V. is covered by 34 analysts. 15 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullBanco de Sabadell. S.A.
Juan Lopez CoboBanco Santander
Namita SamtaniBarclays