CIT Group Inc (DEL) (CIT) has risen sharply, recording gains of 9.68% in the past 4 weeks. However, the stock has corrected -1.34% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 6.11% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The stock has recorded a 20-day Moving Average of 2.92% and the 50-Day Moving Average is 5.17%. CIT Group Inc. is up 0.42% in the last 3-month period. Year-to-Date the stock performance stands at -12.06%.
CIT Group Inc (DEL) (NYSE:CIT): On Fridays trading session , Opening price of the stock was $34.52 with an intraday high of $34.85. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $34.35. However, the stock managed to close at $34.56, a loss of 0.52% for the day. On the previous day, the stock had closed at $34.74. The total traded volume of the day was 1,772,680 shares.
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.