CIT Group (NYSE:CIT) Hold Rating Maintained Today By Credit Suisse; The Target Price is $54.0000

June 20, 2018 - By Winifred Garcia

CIT Group Inc. (NYSE:CIT) Logo

Investors sentiment decreased to 0.84 in Q1 2018. Its down 0.06, from 0.9 in 2017Q4. It fall, as 36 investors sold CIT Group Inc. shares while 93 reduced holdings. 39 funds opened positions while 70 raised stakes. 123.13 million shares or 4.80% less from 129.34 million shares in 2017Q4 were reported.

Ameriprise Financial invested 0% of its portfolio in CIT Group Inc. (NYSE:CIT). Credit Suisse Ag invested in 174,208 shares. 110,654 were accumulated by Alliancebernstein L P. Pggm Investments stated it has 0.09% of its portfolio in CIT Group Inc. (NYSE:CIT). Los Angeles Capital Management And Equity Research has invested 0.01% in CIT Group Inc. (NYSE:CIT). Capital Fund Mgmt holds 0.01% in CIT Group Inc. (NYSE:CIT) or 34,442 shares. Tower Limited Liability Company (Trc) owns 562 shares. Jpmorgan Chase And accumulated 1.07M shares. Thompson Mngmt Incorporated holds 154,849 shares or 1.49% of its portfolio. Virginia Retirement System Et Al invested in 135,400 shares. Hbk Investments Limited Partnership invested 0.05% in CIT Group Inc. (NYSE:CIT). Bankshares Of America Corp De invested 0.01% of its portfolio in CIT Group Inc. (NYSE:CIT). Barclays Public Limited Liability reported 174,198 shares. Johnson Financial Group Inc Inc holds 0% of its portfolio in CIT Group Inc. (NYSE:CIT) for 12 shares. 126,437 were reported by Brandywine Global Invest Llc.

Since March 1, 2018, it had 0 insider buys, and 3 sales for $372,639 activity. Stamps Sheila A had sold 3,350 shares worth $174,585. 2,000 shares were sold by HUDAK JAMES L, worth $107,268.

CIT Group (NYSE:CIT) Rating Reaffirmed

In analysts note sent to investors this morning, Credit Suisse reaffirmed their Hold rating on CIT Group (NYSE:CIT) shares. The PT would suggest a possible upside of 5.39 % from company’s current price.

CIT Group Inc. (NYSE:CIT) Ratings Coverage

Among 10 analysts covering CIT Group (NYSE:CIT), 3 have Buy rating, 0 Sell and 7 Hold. Therefore 30% are positive. CIT Group has $60.0 highest and $4600 lowest target. $55.10’s average target is 7.53% above currents $51.24 stock price. CIT Group had 15 analyst reports since December 21, 2017 according to SRatingsIntel. Keefe Bruyette & Woods maintained the stock with “Hold” rating in Monday, February 26 report. The rating was maintained by BMO Capital Markets with “Hold” on Tuesday, April 24. Oppenheimer maintained the shares of CIT in report on Monday, March 26 with “Buy” rating. Keefe Bruyette & Woods maintained CIT Group Inc. (NYSE:CIT) on Thursday, December 21 with “Hold” rating. On Monday, February 5 the stock rating was maintained by Credit Suisse with “Neutral”. BTIG Research maintained the stock with “Buy” rating in Tuesday, April 24 report. Wells Fargo maintained it with “Market Perform” rating and $53 target in Wednesday, January 31 report. UBS initiated it with “Hold” rating and $5600 target in Tuesday, March 27 report. BMO Capital Markets upgraded CIT Group Inc. (NYSE:CIT) on Monday, February 5 to “Market Perform” rating. The firm earned “Equal-Weight” rating on Monday, February 5 by Morgan Stanley.

The stock decreased 0.08% or $0.04 during the last trading session, reaching $51.24. About 998,079 shares traded. CIT Group Inc. (NYSE:CIT) has risen 10.15% since June 20, 2017 and is uptrending. It has underperformed by 2.42% the S&P500.

Analysts await CIT Group Inc. (NYSE:CIT) to report earnings on July, 24. They expect $0.97 earnings per share, up 7.78 % or $0.07 from last year’s $0.9 per share. CIT’s profit will be $112.47M for 13.21 P/E if the $0.97 EPS becomes a reality. After $0.74 actual earnings per share reported by CIT Group Inc. for the previous quarter, Wall Street now forecasts 31.08 % EPS growth.

CIT Group Inc. operates as the bank holding firm for CIT Bank, National Association that provides banking and related services to commercial and individual customers. The company has market cap of $5.94 billion. The firm operates through Commercial Banking, Consumer Banking, Non-Strategic Portfolios , and Corporate and Other divisions. It has a 19.88 P/E ratio. The Commercial Banking segment offers lending, leasing, and other financial and advisory services primarily to small and middle-market companies; factoring and secured financing services, as well as receivables management products to the retail supply chain; and equipment leasing and secured financing to the rail industry.

More news for CIT Group Inc. (NYSE:CIT) were recently published by: Prnewswire.com, which released: “CIT Adds Sponsor Finance Leader” on June 05, 2018. Prnewswire.com‘s article titled: “CIT Announces Addition to Rail Division’s Senior Leadership Team” and published on June 19, 2018 is yet another important article.

CIT Group Inc. (NYSE:CIT) Institutional Positions Chart

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