CIT Group Inc (DEL) (CIT) Shares are Down -1.71%

CIT Group Inc (DEL) (CIT) : During the past 4 weeks, traders have been relatively bearish on CIT Group Inc (DEL) (CIT), hence the stock is down -1.96% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -1.76% relative to the S&P 500. The 4-week change in the price of the stock is -0.95% and the stock has fallen -1.71% in the past 1 week.

The stock has recorded a 20-day Moving Average of 0.34% and the 50-Day Moving Average is 4.86%. CIT Group Inc (DEL) (NYSE:CIT): stock turned positive on Friday. Though the stock opened at $34.17, the bulls momentum made the stock top out at $34.665 level for the day. The stock recorded a low of $34.05 and closed the trading day at $34.55, in the green by 0.23%. The total traded volume for the day was 1,323,195. The stock had closed at $34.47 in the previous days trading.


The company Insiders own 1.68% of CIT Group Inc (DEL) shares according to the proxy statements. Institutional Investors own 98.3% of CIT Group Inc (DEL) shares. Also, Equity analysts at the Brokerage firm Barclays maintains its rating on CIT Group Inc (DEL) (NYSE:CIT). The rating major has initiated the coverage with equal-weight rating on the shares. The Analysts at Barclays lowers the price target from $37 per share to $35 per share. The rating by the firm was issued on July 29, 2016.

CIT Group Inc. is a bank holding company (BHC), which provides financing, leasing and advisory services principally to middle market companies. The Company operates in two segments: Transportation and International Finance (TIF), provider of leasing and financing solutions to operators and suppliers in the global aviation and railcar industries, and North American Commercial Finance (NACF)., which consists of four divisions: Commercial Services, Corporate Finance, Equipment Finance and Real Estate Finance. Commercial Services provides factoring, receivable management products, and secured financing to businesses. Corporate Finance provides a range of financing options and offers advisory services to small and medium size companies. Equipment Finance provides leasing and equipment loan solutions to small businesses and middle market companies. Real Estate Finance provides senior secured commercial real estate loans to developers and other commercial real estate professionals.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *