CIT Group Inc. (NYSE:CIT) shares gapped up prior to trading on Friday . The stock had previously closed at $31.12, but opened at $31.55. CIT Group shares last traded at $32.91, with a volume of 933,154 shares.

Several brokerages have recently issued reports on CIT. Credit Suisse Group AG reiterated a “hold” rating and issued a $42.00 target price on shares of CIT Group in a research note on Friday, April 29th. Zacks Investment Research upgraded shares of CIT Group from a “sell” rating to a “hold” rating in a research report on Friday. Keefe, Bruyette & Woods restated a “hold” rating on shares of CIT Group in a research report on Monday, March 28th. Deutsche Bank AG restated a “hold” rating on shares of CIT Group in a research report on Wednesday, June 15th. Finally, Nomura Holdings Inc. increased their price objective on shares of CIT Group to $33.00 and gave the company a “neutral” rating in a research report on Tuesday, May 3rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $44.25.

The firm has a 50-day moving average price of $32.22 and a 200 day moving average price of $32.42. The company has a market capitalization of $6.56 billion and a PE ratio of 5.71.

CIT Group (NYSE:CIT) last released its earnings results on Thursday, April 28th. The financial services provider reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by $0.01. During the same period in the prior year, the business posted $0.59 EPS. Equities research analysts expect that CIT Group Inc. will post $3.13 EPS for the current year.

A number of hedge funds have made changes to their positions in the stock. Condor Capital Management boosted its stake in shares of CIT Group by 1.2% in the fourth quarter. Condor Capital Management now owns 29,411 shares of the financial services provider’s stock valued at $1,168,000 after buying an additional 354 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of CIT Group by 19.4% in the fourth quarter. ProShare Advisors LLC now owns 38,268 shares of the financial services provider’s stock valued at $1,519,000 after buying an additional 6,218 shares during the last quarter. Twin Capital Management Inc. acquired a new stake in shares of CIT Group during the fourth quarter valued at approximately $2,036,000. Shell Asset Management Co. boosted its stake in shares of CIT Group by 91.3% in the fourth quarter. Shell Asset Management Co. now owns 57,675 shares of the financial services provider’s stock valued at $2,290,000 after buying an additional 27,525 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its stake in shares of CIT Group by 343.6% in the fourth quarter. GSA Capital Partners LLP now owns 68,442 shares of the financial services provider’s stock valued at $2,717,000 after buying an additional 53,012 shares during the last quarter.

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.

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