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ING · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is ING Groep N.V. American Depositary Shares (ING) stock moving?
ING's share price has recovered from a 30-day low of $30.86 on Nov 3 to a close of $33.36 on Nov 10, a gain of about 8%. Most of the move came after the Nov 6 close of $31.82, and the rally has come on lighter volume (2.09M shares on Nov 10 versus 4.08M on Nov 5), which weakens its confirmation. The main fundamental event was the Oct 29 Q3 2026 report: net profit of €1.85 billion and sales of $7.167 billion beat the $7.000 billion estimate, but EPS of $0.75 missed the $0.79 estimate. Management paired this with a €1.65 billion share buyback, which is now being executed (2,755,000 shares repurchased so far), and with about 400 wholesale banking job cuts. The ECB's 2026 SREP outcome confirmed stable capital requirements for 2027, a supportive backdrop. Goldman Sachs raised its target to €38.10 from €36.60 with a Buy rating on Nov 9, the most recent analyst action. Risks include the planned sale of a roughly $500 million data center loan portfolio, the restructuring execution, and the EPS miss. The Benzinga oversold-RSI note is opinion only and carries little weight.
News behind the analysis
- ING Provides Update on Share Buyback ProgrammeING reported repurchasing 2,755,000 shares so far under its €1.65 billion buyback programme.
- Goldman Sachs Raises Price Target for INGGoldman Sachs raised its price target for ING Groep from €36.60 to €38.10 and kept its Buy rating.
- ING Groep N.V. Offers Data Center Loan Portfolio for SaleING is reportedly seeking to sell a data center loan portfolio valued at about $500 million.
- Top 3 Financial Stocks That Are Preparing To Pump In NovemberBenzinga flagged ING, with Bank of America and HSBC, as oversold with RSI below 30, a view that is not a company event.
- ING Reports Progress on Share Buyback ProgrammeING had repurchased 1,050,000 shares under its €1.65 billion buyback programme as of early November.
- ING Announces Share Buyback, Wholesale Banking Restructuring, and Q3 2026 Financial ResultsING reported Q3 2026 net profit of €1.85 billion, launched the €1.65 billion buyback, and plans about 400 job cuts in wholesale banking.
- ING Groep Q3 EPS $0.75 Misses $0.79 Estimate, Sales $7.167B Beat $7.000B EstimateING's Q3 earnings per share of $0.75 missed the $0.79 estimate, while sales of $7.167 billion beat the $7.000 billion estimate.
- ING Group Completes 2026 Supervisory Review and Evaluation Process (SREP)The European Central Bank confirmed stable capital requirements for ING for 2027 after the 2026 SREP.
About ING Groep N.V. American Depositary Shares
ING Groep is a large Dutch bank, headquartered in Amsterdam, with retail and corporate customers across Europe and in Australia. It is known for its digital-first, mobile-led retail model, especially in Germany, and it trades in New York as an ADR alongside its main Amsterdam listing.
How it makes money
Most of its income is net interest income, meaning the gap between what it earns on mortgages and other loans and what it pays on deposits. For 2026 it expects about €16.8–17.0 billion of commercial net interest income out of more than €24.5 billion in total income, so roughly 70%. Fees from payments, investment products, insurance distribution and corporate banking bring in about €5 billion, roughly 20%. The remainder, about €2.5–2.7 billion, comes from other sources such as financial markets activity. Its business splits into Retail Banking and Wholesale Banking, and Wholesale Banking is being renamed Corporate and Institutional Banking.
What usually moves ING
- ECB and eurozone interest rates (deposit margins)
- European economic growth and loan losses
- Share buybacks and dividends
- Growth in loans, deposits and mobile customers
- EUR/USD exchange rate for the ADR