Pro-Cit Group Inc Institutional Investors Sentiment Runs High in 2019 Q1

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Sentiment for Cit Group Inc (NYSE:CIT)

Cit Group Inc (NYSE:CIT) institutional sentiment increased to 0.82 in Q1 2019. Its up 0.13, from 0.69 in 2018Q4. The ratio has improved, as 101 active investment managers started new and increased equity positions, while 123 sold and trimmed holdings in Cit Group Inc. The active investment managers in our partner’s database now possess: 94.69 million shares, down from 100.69 million shares in 2018Q4. Also, the number of active investment managers holding Cit Group Inc in their top 10 equity positions increased from 6 to 7 for an increase of 1. Sold All: 20 Reduced: 103 Increased: 62 New Position: 39.

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 $4.36 billion. The firm operates through Commercial Banking, Consumer Banking, Non-Strategic Portfolios , and Corporate and Other divisions. It has a 10.47 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.

The stock increased 0.20% or $0.1 during the last trading session, reaching $46.51. About 325,491 shares traded. CIT Group Inc. (NYSE:CIT) has declined 4.23% since September 11, 2018 and is downtrending. It has underperformed by 4.23% the S&P500.

Analysts await CIT Group Inc. (NYSE:CIT) to report earnings on October, 22. They expect $1.30 earnings per share, up 13.04 % or $0.15 from last year’s $1.15 per share. CIT’s profit will be $121.73M for 8.94 P/E if the $1.30 EPS becomes a reality. After $1.32 actual earnings per share reported by CIT Group Inc. for the previous quarter, Wall Street now forecasts -1.52 % negative EPS growth.

New Mountain Vantage Advisers L.L.C. holds 19.17% of its portfolio in CIT Group Inc. for 3.42 million shares. Jacobs Asset Management Llc owns 612,500 shares or 5.81% of their US portfolio. Moreover, Birch Run Capital Advisors Lp has 4.62% invested in the company for 303,000 shares. The New York-based Price Michael F has invested 3.61% in the stock. Lakewood Capital Management Lp, a New York-based fund reported 2.65 million shares.

Since January 1, 0001, it had 4 insider buys, and 0 sales for $936,573 activity.

CIT Group Inc. (NYSE:CIT) Ratings Coverage

Ratings analysis reveals 67% of CIT Group’s analysts are positive. Out of 3 Wall Street analysts rating CIT Group, 2 give it “Buy”, 0 “Sell” rating, while 1 recommend “Hold”. The lowest target is $5000 while the high is $63. The stock’s average target of $57.67 is 23.99% above today’s ($46.51) share price. CIT was included in 4 notes of analysts from March 26, 2019. UBS maintained CIT Group Inc. (NYSE:CIT) rating on Wednesday, April 24. UBS has “Buy” rating and $6000 target. The rating was maintained by BMO Capital Markets with “Market Perform” on Wednesday, July 24. Oppenheimer maintained CIT Group Inc. (NYSE:CIT) rating on Tuesday, March 26. Oppenheimer has “Outperform” rating and $63 target.

More notable recent CIT Group Inc. (NYSE:CIT) news were published by: Prnewswire.com which released: “CIT to Acquire Mutual of Omaha Bank – PRNewswire” on August 13, 2019, also Investorplace.com with their article: “5 Value Stocks With Fast-Growing Dividends – Investorplace.com” published on August 16, 2019, Prnewswire.com published: “CIT Names David Harnisch President of Commercial Finance as Jim Hudak Retires – PRNewswire” on August 26, 2019. More interesting news about CIT Group Inc. (NYSE:CIT) were released by: Prnewswire.com and their article: “OneWest Bank Launches New Promotion Supporting Local Small Businesses – PRNewswire” published on August 21, 2019 as well as Benzinga.com‘s news article titled: “32 Stocks Moving in Tuesday’s Pre-Market Session – Benzinga” with publication date: August 20, 2019.

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

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