Were Analysts Bearish CIT Group Inc. (NYSE:CIT) This Week?

CIT Group Inc. (NYSE:CIT) Logo
Investors sentiment increased to 0.82 in 2019 Q1. Its up 0.13, from 0.69 in 2018Q4. It improved, as 20 investors sold CIT Group Inc. shares while 103 reduced holdings. 39 funds opened positions while 62 raised stakes. 94.69 million shares or 5.96% less from 100.69 million shares in 2018Q4 were reported.
Royal Bank Of Canada stated it has 0.02% of its portfolio in CIT Group Inc. (NYSE:CIT). Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Mngmt Corporation owns 36,000 shares or 0.02% of their US portfolio. Regions Finance Corporation accumulated 0% or 992 shares. Bluecrest Management holds 0.01% in CIT Group Inc. (NYSE:CIT) or 6,585 shares. Reilly Advisors Limited Company reported 0% in CIT Group Inc. (NYSE:CIT). Verition Fund Mngmt Limited Company owns 6,465 shares or 0.01% of their US portfolio. Utd Ser Automobile Association invested in 0.01% or 74,354 shares. 128,369 were reported by Invesco Ltd. Voya Investment Mgmt Ltd reported 0% stake. Amp Investors Ltd has 0.01% invested in CIT Group Inc. (NYSE:CIT). Principal Fin holds 9,982 shares or 0% of its portfolio. Nomura Asset Mngmt holds 0.01% of its portfolio in CIT Group Inc. (NYSE:CIT) for 23,426 shares. 54,373 were accumulated by Parallax Volatility Advisers Ltd Partnership. Spears Abacus Advisors Ltd Llc holds 3.4% or 555,731 shares in its portfolio. 283,932 were accumulated by Robeco Institutional Asset Management Bv.

CIT Group Inc. (NYSE:CIT) Ratings Coverage

Among 3 analysts covering CIT Group (NYSE:CIT), 2 have Buy rating, 0 Sell and 1 Hold. Therefore 67% are positive. CIT Group had 4 analyst reports since March 11, 2019 according to SRatingsIntel. UBS maintained CIT Group Inc. (NYSE:CIT) rating on Wednesday, April 24. UBS has “Buy” rating and $6000 target. On Tuesday, March 26 the stock rating was maintained by Oppenheimer with “Outperform”. The firm has “Hold” rating by Barclays Capital given on Monday, March 11. Below is a list of CIT Group Inc. (NYSE:CIT) latest ratings and price target changes.

24/04/2019 Broker: UBS Old Rating: Buy New Rating: Buy Old Target: $55.0000 New Target: $60.0000 Maintain
30/03/2019 Broker: BidaskScore Rating: Hold Upgrade
26/03/2019 Broker: Oppenheimer Old Rating: Outperform New Rating: Outperform Old Target: $61 New Target: $63 Maintain
11/03/2019 Broker: Barclays Capital Rating: Hold New Target: $55 Maintain

The stock increased 0.72% or $0.37 during the last trading session, reaching $51.55. About 369,798 shares traded. CIT Group Inc. (NYSE:CIT) has declined 5.70% since July 14, 2018 and is downtrending. It has underperformed by 10.13% the S&P500.

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 $4.97 billion. The firm operates through Commercial Banking, Consumer Banking, Non-Strategic Portfolios , and Corporate and Other divisions. It has a 12.72 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 notable recent CIT Group Inc. (NYSE:CIT) news were published by: Prnewswire.com which released: “CIT Provides Financing for Nashville City Center Office Tower – PRNewswire” on March 12, 2019, also Prnewswire.com with their article: “CIT Provides $27.5 Million for Acquisition of San Rafael Office Building – PRNewswire” published on July 11, 2019, Finance.Yahoo.com published: “Is Highwoods Properties Inc (HIW) Going to Burn These Hedge Funds? – Yahoo Finance” on June 28, 2019. More interesting news about CIT Group Inc. (NYSE:CIT) were released by: Prnewswire.com and their article: “CIT Leads Financing for Innovative Battery Storage Project Supporting Renewable Power – PRNewswire” published on March 26, 2019 as well as Prnewswire.com‘s news article titled: “CIT and Operation HOPE Celebrate National Small Business Week and Introduce Launch and Grow – PRNewswire” with publication date: May 02, 2019.

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

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