Credit Suisse Keeps a Hold Rating on CIT Group


In a report released today, Moshe Orenbuch from Credit Suisse reiterated a Hold rating on CIT Group (NYSE: CIT), with a price target of $54. The company’s shares opened today at $51.28.

Orenbuch noted:

“We expect the CET1 ratio to be at least a few hundred basis points above their 10-11% target CET1 ratio at the end of 2018 necessitating large capital return (could also be an acquisition) in 2019, to reach their target CET1 ratio. If CIT is approved for significantly higher capital return than our forecast of $1.05Bn in ’19 and $0.5Bn in ’20, this could also be a catalyst for performance.”

According to TipRanks.com, Orenbuch is a 5-star analyst with an average return of 13.8% and a 74.5% success rate. Orenbuch covers the Financial sector, focusing on stocks such as Curo Group Holdings Corp, Santander Consumer USA, and OneMain Holdings Inc.

CIT Group has an analyst consensus of Moderate Buy, with a price target consensus of $54.20.

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CIT Group’s market cap is currently $6.55B and has a P/E ratio of 31.74. The company has a Price to Book ratio of 0.97.

Based on the recent corporate insider activity of 82 insiders, corporate insider sentiment is negative on the stock.

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CIT Group, Inc. is a financial holding company, which provides financing, leasing and advisory services. It operates through the following business segments: Commercial Banking, Consumer Banking and Non-Strategic Portfolios. The Commercial Banking segment consists of four divisions, commercial finance, rail, real estate finance and business capital.

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