CIT Group (CIT) : Fsi Group added new position in CIT Group during the most recent quarter end. The investment management firm now holds 60,000 shares of CIT Group which is valued at $2,073,000 , the company said in a statement filed on Aug 11, 2016 with the SEC.CIT Group makes up approximately 1.21% of Fsi Group’s portfolio.
Other Hedge Funds, Including , Fmr reduced its stake in CIT by selling 116,190 shares or 1.55% in the most recent quarter. The Hedge Fund company now holds 7,370,802 shares of CIT which is valued at $254,661,209. CIT Group makes up approx 0.03% of Fmr’s portfolio.Harris Associates L P reduced its stake in CIT by selling 1,700 shares or 6.71% in the most recent quarter. The Hedge Fund company now holds 23,625 shares of CIT which is valued at $816,244. Coconut Grove Bank sold out all of its stake in CIT during the most recent quarter. The investment firm sold 1,375 shares of CIT which is valued $48,331.Mizuho Trust Banking Ltd. boosted its stake in CIT in the latest quarter, The investment management firm added 38,037 additional shares and now holds a total of 521,013 shares of CIT Group which is valued at $17,620,660. CIT Group makes up approx 0.05% of Mizuho Trust Banking Ltd.’s portfolio. Donald L. Hagan sold out all of its stake in CIT during the most recent quarter. The investment firm sold 614 shares of CIT which is valued $21,508.
CIT Group opened for trading at $36.27 and hit $36.73 on the upside on Tuesday, eventually ending the session at $36.34, with a gain of 0.55% or 0.2 points. The heightened volatility saw the trading volume jump to 11,09,671 shares. Company has a market cap of $7,340 M.
On the company’s financial health, CIT Group reported $0.90 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.78. The company had revenue of $645.10 million for the quarter, compared to analysts expectations of $628.85 million. The company’s revenue was up 58.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS.
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.