JPMorgan raises target for ING Groep stock to EUR 38.30

Published on 10/05/2026 at 09:18 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

ING repurchased 1,300,000 shares at EUR 31.93 in late September. ING Groep stock costs EUR 30.73 on October 5, 2026 versus EUR 30.91.

Schwarzweiß-Reportage einer europäischen Bankfiliale mit Kunden am Schalter — ING Groep N.V. Bankfiliale NL0011821202 in dramatischem Schwarzweiß-Reportagefoto mit Kunden am Schalter, Illustration mit AI erstellt.

ING Groep (ISIN NL0011821202) was trading at EUR 30.73 at Lang & Schwarz on October 5, 2026 at 9:14 a.m. CEST, minus 0.58 percent versus the prior close of EUR 30.91. JPMorgan raised its price target for the bank from EUR 36.30 to EUR 38.30 on October 2, 2026, according to Markets Insider, while keeping an Overweight rating.

JPMorgan lifts target to EUR 38.30

JPMorgan also placed ING on Positive Catalyst Watch and cited an undemanding valuation together with expectations for another strong quarter, the report said. The new target is EUR 7.57 above the Lang & Schwarz price, but that comparison uses different reference dates and is not a trading forecast.

The target revision gives the October 29 results date added relevance. ING's investor calendar identifies the second-quarter release as the latest published results, with the bank reporting that quarter on July 30, 2026.

Buyback reaches EUR 820.5 million

ING repurchased 1,300,000 shares during the week ended September 25, 2026, paying an average EUR 31.93 per share. In its September 29 release, GlobeNewswire reported 28,960,805 shares repurchased for total consideration of EUR 820.5 million under the EUR 1.0 billion program.

The weekly purchase represented 1,300,000 of the 28,960,805 shares bought to date, making the capital return program a measurable part of the current equity story. The same release says the purpose is to reduce ING's share capital, rather than to fund an acquisition or expand the loan book.

Second-quarter profit fell 21 percent

The buyback continues against a mixed operating backdrop. In the second quarter of 2026, ING reported net income of EUR 1.95 billion, earnings per share of EUR 0.68 and revenue of EUR 6.01 billion, with net income down 21 percent and revenue down 7.20 percent from the second quarter of 2025, according to Simply Wall St.

For investors, the key tension is clear: JPMorgan's higher EUR 38.30 target reflects confidence in the next earnings update, while the latest quarterly comparison shows pressure on both revenue and net income. The buyback supplies a capital-return counterweight, but the October results must show whether customer growth and balances can offset weaker reported earnings.

ING Groep stock remains below its yearly high

ING Groep stock was trading at EUR 30.73 at Lang & Schwarz on October 5, 2026 at 9:14 a.m. CEST, minus 0.58 percent versus the prior close of EUR 30.91. The reference price remains EUR 1.67 below the reported 52-week high of EUR 32.40 and above the 52-week low of EUR 20.24, both dated October 2, 2026.

The further course of trading is shown by the continuously updated real-time quote of ING Groep stock.