BMO Capital Markets reiterated their hold rating on shares of CIT Group Inc. (NYSE:CIT) in a research note published on Monday morning.

Several other research analysts have also weighed in on the company. Credit Suisse Group AG lowered their price objective on CIT Group from $42.00 to $34.55 and set a neutral rating for the company in a research report on Monday, August 15th. TheStreet upgraded CIT Group from a hold rating to a buy rating in a research note on Monday, August 8th. Zacks Investment Research upgraded CIT Group from a sell rating to a hold rating in a research note on Friday, July 8th. Stifel Nicolaus downgraded CIT Group from a buy rating to a hold rating and raised their target price for the company from $40.00 to $41.00 in a research note on Friday. Finally, BTIG Research restated a buy rating and issued a $52.00 target price on shares of CIT Group in a research note on Wednesday, August 17th. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $43.03.

CIT Group (NYSE:CIT) traded down 0.08% during mid-day trading on Monday, reaching $36.73. The company’s stock had a trading volume of 469,815 shares. CIT Group has a 52-week low of $25.19 and a 52-week high of $46.51. The firm has a 50 day moving average price of $35.95 and a 200 day moving average price of $33.77. The company has a market cap of $7.42 billion, a price-to-earnings ratio of 7.33 and a beta of 1.52.

CIT Group (NYSE:CIT) last posted its quarterly earnings data on Thursday, July 28th. The financial services provider reported $0.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.13. CIT Group had a return on equity of 5.54% and a net margin of 22.45%. The firm earned $645.10 million during the quarter, compared to analyst estimates of $620.33 million. During the same period last year, the company posted $0.66 EPS. The business’s quarterly revenue was up 58.7% on a year-over-year basis. Equities research analysts anticipate that CIT Group will post $2.33 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of CIT. Toronto Dominion Bank raised its stake in CIT Group by 5.7% in the second quarter. Toronto Dominion Bank now owns 3,130 shares of the financial services provider’s stock valued at $100,000 after buying an additional 168 shares during the last quarter. IFP Advisors Inc raised its stake in CIT Group by 4.6% in the first quarter. IFP Advisors Inc now owns 4,998 shares of the financial services provider’s stock valued at $155,000 after buying an additional 219 shares during the last quarter. Pacer Advisors Inc. raised its stake in CIT Group by 9.4% in the second quarter. Pacer Advisors Inc. now owns 3,771 shares of the financial services provider’s stock valued at $120,000 after buying an additional 323 shares during the last quarter. CIBC Asset Management Inc raised its stake in CIT Group by 3.4% in the second quarter. CIBC Asset Management Inc now owns 11,046 shares of the financial services provider’s stock valued at $352,000 after buying an additional 364 shares during the last quarter. Finally, LS Investment Advisors LLC raised its stake in CIT Group by 9.9% in the second quarter. LS Investment Advisors LLC now owns 6,308 shares of the financial services provider’s stock valued at $201,000 after buying an additional 567 shares during the last quarter. Institutional investors and hedge funds own 98.46% of the company’s stock.

CIT Group Company Profile

CIT Group Inc (CIT) is a bank holding company. The Company, together with its subsidiaries, provides financing, leasing and advisory services to middle market companies in a range of industries in North America, and equipment financing and leasing solutions to the transportation industry around the world.

5 Day Chart for NYSE:CIT

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