CIT Group Inc. (NYSE:CIT) shares gapped down prior to trading on Tuesday . The stock had previously closed at $32.86, but opened at $33.18. CIT Group shares last traded at $33.67, with a volume of 954,922 shares changing hands.

A number of research analysts recently issued reports on the stock. 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 note on Tuesday, June 14th. Keefe, Bruyette & Woods reissued a “hold” rating on shares of CIT Group in a report on Monday, March 28th. Deutsche Bank AG reissued a “hold” rating on shares of CIT Group in a report on Wednesday, June 15th. Finally, Nomura Holdings Inc. increased their price target on shares of CIT Group to $33.00 and gave the company a “neutral” rating in a report on Tuesday, May 3rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company’s stock. CIT Group has a consensus rating of “Hold” and an average price target of $44.25.

The firm’s 50 day moving average is $32.28 and its 200-day moving average is $32.25. The company has a market capitalization of $6.81 billion and a PE ratio of 5.92.

CIT Group (NYSE:CIT) last released its quarterly earnings data on Thursday, April 28th. The financial services provider reported $0.75 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by $0.01. During the same quarter in the previous year, the business posted $0.59 EPS. On average, equities analysts forecast that CIT Group Inc. will post $3.12 earnings per share for the current fiscal year.

Other institutional investors recently added to or reduced their stakes in the company. Gulf International Bank UK Ltd increased its position in CIT Group by 0.4% in the fourth quarter. Gulf International Bank UK Ltd now owns 114,900 shares of the financial services provider’s stock valued at $4,562,000 after buying an additional 500 shares in the last quarter. 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 worth $2,717,000 after buying an additional 53,012 shares during the last quarter. Mizuho Trust & Banking Co. Ltd. boosted its stake in shares of CIT Group by 19.6% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 446,694 shares of the financial services provider’s stock worth $17,859,000 after buying an additional 73,255 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of CIT Group by 5.0% in the fourth quarter. Vanguard Group Inc. now owns 13,554,252 shares of the financial services provider’s stock worth $538,103,000 after buying an additional 641,446 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of CIT Group by 37.5% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 94,593 shares of the financial services provider’s stock worth $3,755,000 after buying an additional 25,816 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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