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

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.