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CIT Group Inc. (NYSE:CIT): An Opportunity for Fundamental Investors?

CIT Group Inc. (NYSE:CIT) shares fell to a low of $52.63 before closing at $52.68. Intraday shares traded counted 0.83 million, which was 11.1% higher than its 30-day average trading volume of 928.68K. CIT’s previous close was $53.71 while the outstanding shares total 98.81M. The firm has a beta of 1.56, a 12-month trailing P/E ratio of 18.48, and a growth ratio of 1.85. The stock’s Relative Strength Index (RSI) is 52.21, with weekly volatility at 3.88% and ATR at 1.84. The CIT stock’s 52-week price range has touched low of $15.28 and a $55.89 high. The stock traded lower over the last trading session, losing -1.92% on 05/18/21.

Investors have identified the Banks – Regional company CIT Group Inc. as an interesting stock but before investments are made there, an in-depth look at its trading activities will have to be conducted. The share is trading with a market value of around $5.08 billion, the company now has both obstacles and catalysts that affect them and they came from their mode of operations. With the company affected by events currently, it is a perfect time to analyze the numbers behind the firm in order to come up with a rather realistic picture of what this stock is.

Having a look at the company’s valuation, the company is expected to record 4.57 total earnings per share during the next fiscal year. It is very important though to remember that the importance of trend far outweighs that of outlook. This analysis has been great and getting further updates on CIT sounds very interesting.

Is the stock of CIT attractive?

In related news, Director, BROSNAN MICHAEL L. sold 5,901 shares of the company’s stock in a transaction that recorded on Mar 11. The sale was performed at an average price of 50.96, for a total value of 300,734. As the sale deal closes, the EVP & Head of Marketing, PROIA GINA M. now sold 14,000 shares of the company’s stock, valued at 696,683. Also, EVP, Head of Technology & Ops, MENELLY DENISE M. sold 14,500 shares of the company’s stock in a deal that was recorded on Mar 04. The shares were price at an average price of 46.45 per share, with a total market value of 673,495. Following this completion of acquisition, the EVP & Chief Risk Officer, PLUMMER WAHIDA now holds 2,711 shares of the company’s stock, valued at 133,191. In the last 6 months, insiders have changed their ownership in shares of company stock by 0.70%.

0 out of 4 analysts covering the stock have rated it a Buy, while 4 have maintained a Hold recommendation on CIT Group Inc.. 0 analysts has assigned a Sell rating on the CIT stock. The 12-month mean consensus price target for the company’s shares has been set at $54.80.

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