ING stock gains support as share buyback passes 73 percent mark

Published on 09/16/2026 at 10:02 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

ING stock is backed by a EUR 1.0 billion share buyback, with 73.59 percent of the program completed as of September 15, 2026. The shares recently closed near EUR 32 on Euronext Amsterdam, close to the upper end of their 52-week range.

Modernes Glas-Bankgebäude am Amsterdamer Kanal, ING Groep N.V — ING Groep N.V. Bankzentrale NL0011821202 als modernes Glasgebäude am Amsterdamer Kanal bei bewölktem Himmel, Illustration mit AI erstellt.

ING Groep N.V. stock (ISIN NL0011821202) is trading in mid-September 2026 with solid support from a EUR 1.0 billion share buyback programme, after the bank reported that 73.59 percent of the planned repurchase volume had been completed as of September 15, 2026. According to ING Group on September 15, 2026, the programme is designed to reduce the share capital and support returns for shareholders.

Share buyback reaches three-quarters completion

As detailed in a press release dated September 15, 2026, ING repurchased a total of 1,380,000 shares in the week from September 7 up to and including September 11, 2026 at an average price of EUR 31.82, corresponding to a cash outlay of EUR 43,905,995.00 under the buyback programme. According to ING Group, this brings the cumulative number of shares repurchased since the programme started to 26,310,805 at an average price of EUR 27.97 for a total consideration of EUR 735,916,667.99, meaning that approximately 73.59 percent of the maximum planned EUR 1.0 billion has already been executed.

The buyback programme, announced on April 30, 2026, is structured to reduce the number of shares outstanding and thereby enhance earnings per share over time. As Investing.com reported on September 15, 2026, Chief Financial Officer Ida Lerner indicated at Barclays 24th Annual Global Financial Services Conference that ING is now aiming for higher returns through 2027, and the capital-management actions such as the buyback form part of this broader strategic framework.

Stock trades near the top of its 52-week range

ING shares have been trading close to the upper end of their 52-week range as the buyback progresses. On Euronext Amsterdam, the home market for ING Groep, the stock recently closed at EUR 31.92 on September 15, 2026, down 0.72 percent compared with a prior close of EUR 32.15, based on data cited from Bolsamania for that session. A separate quote overview shows that the shares stood at EUR 32.09 on September 11, 2026, representing a 1.45 percent gain versus the previous close and underlining investor interest in the Dutch banking group at that time, according to an article from Ad-hoc-news.

On the United States market, where ING is also traded as a listed security, the shares were quoted at USD 36.96 on September 15, 2026, with the price near the top of a 52-week range stretching from USD 23.64 to USD 37.52, as reported by Investing.com. Using that range, the September 15, 2026 price stands just below the 52-week high, while being more than 50 percent above the 52-week low, indicating that the stock has delivered strong performance over the past year.

According to the same analysis, the shares have surged 50 percent over the past six months, which corresponds to a substantial appreciation in the stock compared with the half-year starting level. For investors, the combination of this price performance and the ongoing buyback programme forms a key part of the case for ING in mid-2026.

Recent margins and growth signals

Beyond capital management, recent operating metrics provide further context for ING stock. At the Barclays conference in September 2026, Chief Financial Officer Ida Lerner described how lending margins and liability margins have evolved through the latest reported quarter. According to Investing.com, the lending margin fell to 124 basis points in the second quarter of 2026 from the first quarter, indicating some normalization after a period of elevated spreads.

Liability margins, which measure the bank's profitability on deposits, remained above the historical range of 100 to 110 basis points in the same period and are expected to stay above that range through 2027 and 2028, supported by ING's replication portfolio and strong deposit growth, as noted in the conference coverage by Investing.com. The quantified margin development between the first and second quarters of 2026 thus shows a modest decline in lending profitability but continued strength on the deposit side.

In terms of growth, the same conference remarks indicated that ING is tracking ahead of plan on lending, deposits and fees, with profitable expansion in both retail and wholesale banking. As Investing.com summarized, ING is now aiming for higher returns through 2027 and plans to update the market on targets beyond that point once the next planning cycle has been decided, reinforcing the medium-term focus that underpins the buyback and dividend decisions.

Analyst view and valuation context

On the analyst side, recent commentary provides a snapshot of how ING stock is being assessed. A market update cited by TipRanks and relayed through an article in The Globe and Mail noted that the most recent analyst rating on ING stock was a Buy with a EUR 36.30 price target, placing the target roughly 13.7 percent above the recent closing level around EUR 31.92, and giving investors a sense of upside potential relative to current trading levels. As The Globe and Mail reported on September 16, 2026, this Buy rating accompanies the buyback progress update.

At the same time, valuation specialists have flagged that the stock's strong run has implications for how attractively it is priced. On September 15, 2026, a discounted cash flow analysis on ING Groep NV indicated an earnings-based intrinsic value of USD 35.39 compared with a then current price of USD 36.96, corresponding to a margin of safety of minus 4.4 percent, according to GuruFocus. The same analysis calculated a GF Value of USD 23.89, suggesting that the stock is significantly overvalued by 54.7 percent versus that particular valuation metric.

This combination of a Buy rating with a price target above the current euro quote and valuation tools that see limited margin of safety underscores the tension between ING's strong operating and capital-management story and the risk that the shares may already price in much of the expected improvement. For investors, it means that the share buyback and margin trends must continue to deliver if the stock is to justify its current positioning near the top of the 52-week range.

Next steps for investors watching ING stock

Looking ahead, the remainder of the EUR 1.0 billion buyback programme, amounting to roughly EUR 264 million of potential further repurchases based on the reported execution of EUR 735,916,667.99 to date, could continue to provide support to ING shares during the rest of 2026. According to ING Group, the programme is expected to be completed by year-end if it proceeds as planned, which would further reduce the share count.

For retail investors, the key checkpoints now lie in the next quarterly and annual reporting dates, where the bank will update revenue, profit and margin figures and potentially refine its guidance toward 2027. These events will reveal whether the recent trends in lending margins, liability margins and fee income are sustained and whether the bank can continue to track ahead of plan on growth. At the same time, the valuation discussion framed by the DCF and GF Value metrics means that price levels relative to future earnings and capital returns deserve close attention.

Stock price snapshot

As of the last completed home-market trading day with a clearly reported closing level, ING Groep stock is referenced at EUR 32.09 on Euronext Amsterdam on September 11, 2026, representing the primary exchange price investors typically use to assess the Dutch banking group. This closing level sits close to the recent highs reached during the period of heightened buyback activity and reflects the interplay between capital management, operating performance and investor expectations in mid-September 2026.