CIT Group Inc. (NYSE:CIT) shares gapped up before the market opened on Thursday . The stock had previously closed at $33.82, but opened at $34.00. CIT Group shares last traded at $34.36, with a volume of 1,179,163 shares traded.

A number of research analysts have commented on the company. Keefe, Bruyette & Woods restated a “hold” rating on shares of CIT Group in a research note on Monday, March 28th. Zacks Investment Research upgraded CIT Group from a “sell” rating to a “hold” rating in a research note on Tuesday, June 14th. Nomura Holdings Inc. upped their price target on CIT Group to $33.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 3rd. Credit Suisse Group AG restated a “hold” rating and set a $42.00 price target on shares of CIT Group in a research note on Friday, April 29th. Finally, Deutsche Bank AG restated a “hold” rating on shares of CIT Group in a research note on Wednesday, June 15th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. CIT Group currently has a consensus rating of “Hold” and a consensus price target of $44.25.

The stock has a market cap of $6.93 billion and a P/E ratio of 6.02. The stock has a 50-day moving average of $32.31 and a 200 day moving average of $32.28.

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

Several institutional investors have bought and sold shares of the stock. Condor Capital Management raised its position in 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. Wells Fargo & Company MN raised its position in CIT Group by 18.6% in the fourth quarter. Wells Fargo & Company MN now owns 6,258,377 shares of the financial services provider’s stock valued at $248,459,000 after buying an additional 983,029 shares during the last quarter. Bank of Montreal Can raised its position in CIT Group by 58.6% in the fourth quarter. Bank of Montreal Can now owns 895,622 shares of the financial services provider’s stock valued at $35,556,000 after buying an additional 330,954 shares during the last quarter. Cornerstone Capital Management Holdings LLC. raised its position in CIT Group by 68.2% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 256,389 shares of the financial services provider’s stock valued at $10,178,000 after buying an additional 104,001 shares during the last quarter. Finally, Philadelphia Trust Co. raised its position in CIT Group by 2.6% in the fourth quarter. Philadelphia Trust Co. now owns 569,356 shares of the financial services provider’s stock valued at $23,574,000 after buying an additional 14,535 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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