Gator Capital Management LLC bought a new position in CIT Group Inc. (NYSE:CIT) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 6,000 shares of the financial services provider’s stock, valued at approximately $295,000.
Several other institutional investors also recently bought and sold shares of the stock. M&T Bank Corp grew its stake in shares of CIT Group by 0.6% in the 2nd quarter. M&T Bank Corp now owns 5,210 shares of the financial services provider’s stock worth $253,000 after buying an additional 30 shares during the last quarter. Advisor Group Inc. grew its stake in shares of CIT Group by 2.2% in the 2nd quarter. Advisor Group Inc. now owns 3,030 shares of the financial services provider’s stock worth $146,000 after buying an additional 66 shares during the last quarter. Aperio Group LLC grew its stake in shares of CIT Group by 1.0% in the 4th quarter. Aperio Group LLC now owns 105,723 shares of the financial services provider’s stock worth $5,205,000 after buying an additional 1,062 shares during the last quarter. FDx Advisors Inc. grew its stake in shares of CIT Group by 10.4% in the 3rd quarter. FDx Advisors Inc. now owns 13,721 shares of the financial services provider’s stock worth $673,000 after buying an additional 1,295 shares during the last quarter. Finally, Schroder Investment Management Group grew its stake in shares of CIT Group by 82.0% in the 3rd quarter. Schroder Investment Management Group now owns 3,063 shares of the financial services provider’s stock worth $149,000 after buying an additional 1,380 shares during the last quarter.
Shares of CIT Group Inc. (CIT) opened at $50.62 on Monday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.05 and a current ratio of 1.05. CIT Group Inc. has a 52 week low of $39.48 and a 52 week high of $53.76. The company has a market capitalization of $6,649.09, a price-to-earnings ratio of 14.67 and a beta of 1.42.
CIT Group (NYSE:CIT) last issued its earnings results on Tuesday, January 30th. The financial services provider reported $0.99 EPS for the quarter, beating the consensus estimate of $0.81 by $0.18. CIT Group had a return on equity of 6.84% and a net margin of 14.60%. The business had revenue of $537.00 million for the quarter, compared to the consensus estimate of $469.24 million. During the same period last year, the business posted $0.59 EPS. The company’s revenue was up 15.7% compared to the same quarter last year. equities research analysts anticipate that CIT Group Inc. will post 4.06 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 9th will be paid a dividend of $0.16 per share. The ex-dividend date is Thursday, February 8th. This represents a $0.64 annualized dividend and a yield of 1.26%. CIT Group’s dividend payout ratio is 24.62%.
Several analysts recently weighed in on CIT shares. Morgan Stanley upped their price target on CIT Group from $51.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 13th. BMO Capital Markets upgraded CIT Group from an “underperform” rating to a “market perform” rating and set a $49.00 price target on the stock in a research note on Monday. Stephens set a $60.00 price target on CIT Group and gave the stock a “buy” rating in a research note on Wednesday, January 3rd. Oppenheimer restated a “buy” rating on shares of CIT Group in a research note on Tuesday, October 24th. Finally, Zacks Investment Research downgraded CIT Group from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $54.18.
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CIT Group Profile
CIT Group Inc (CIT) is a bank holding company (BHC) and a financial holding company (FHC). The Company, together with its subsidiaries, provides financing, leasing and advisory services to middle market companies in a range of industries in North America. The Company’s segments include Commercial Banking, Consumer Banking, Non-Strategic Portfolios, and Corporate and Other.
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