CIT Group (CIT) Earns Coverage Optimism Score of 0.14
Headlines about CIT Group (NYSE:CIT) have been trending somewhat positive this week, Accern Sentiment Analysis reports. The research firm rates the sentiment of media coverage by analyzing more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. CIT Group earned a daily sentiment score of 0.14 on Accern’s scale. Accern also gave news headlines about the financial services provider an impact score of 46.9903542345511 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
Here are some of the news headlines that may have impacted Accern’s analysis:
- Short Interest in CIT Group (CIT) Expands By 158.9% (americanbankingnews.com)
- STATE OF WISCONSIN CIRCUIT COURT JACKSON COUNTY CIT BANK, N.A. (chippewa.com)
- Seipi seeks to limit CIT to 10 percent in TRAIN 2 (businessmirror.com.ph)
- How intent-based networking is revolutionizing the enterprise (techrepublic.com)
- The Gunnnebo Group: Jack Of All Trades, Master Of None (seekingalpha.com)
CIT Group opened at $50.99 on Friday, Marketbeat reports. The stock has a market cap of $6.52 billion, a PE ratio of 16.61, a price-to-earnings-growth ratio of 1.29 and a beta of 1.26. CIT Group has a 1 year low of $43.25 and a 1 year high of $56.14. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.53.
The company also recently announced a quarterly dividend, which was paid on Friday, May 25th. Investors of record on Friday, May 11th were given a $0.16 dividend. The ex-dividend date was Thursday, May 10th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.26%. CIT Group’s dividend payout ratio (DPR) is presently 20.85%.
CIT has been the subject of several analyst reports. TheStreet raised CIT Group from a “c+” rating to a “b-” rating in a research note on Tuesday, March 20th. BTIG Research reissued a “buy” rating and set a $57.00 target price on shares of CIT Group in a research note on Wednesday, April 18th. UBS Group initiated coverage on CIT Group in a research note on Tuesday, March 27th. They set a “neutral” rating and a $56.00 target price for the company. Zacks Investment Research cut CIT Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Finally, BMO Capital Markets lowered their target price on CIT Group from $49.00 to $46.00 and set a “market perform” rating for the company in a research note on Wednesday, April 25th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. CIT Group has a consensus rating of “Hold” and an average target price of $54.83.
In related news, Director Sheila A. Stamps sold 3,350 shares of the company’s stock in a transaction dated Thursday, June 7th. The stock was sold at an average price of $52.12, for a total value of $174,602.00. Following the completion of the sale, the director now directly owns 4,666 shares of the company’s stock, valued at approximately $243,191.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.27% of the stock is owned by corporate insiders.
About CIT Group
CIT Group Inc operates as the bank holding company for CIT Bank, National Association that provides banking and related services to commercial and individual customers. The company operates through three segments: Commercial Banking, Consumer Banking, and Non-Strategic Portfolios (NSP). The Commercial Banking segment offers lending, leasing, and other financial and advisory services primarily to small and middle-market companies; factoring, receivables management products, and secured supply chain financing; and equipment leasing and secured financing to railroads and non-rail companies.
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