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CIT

CIT Group

$49.37

-0.01 (-0.02%)

16:32
10/06/17
10/06
16:32
10/06/17
16:32

CIT Bank, N.A. to sell Financial Freedom, reverse mortgage portfolio

CIT Bank, N.A., the bank subsidiary of CIT Group, announced that it has reached an agreement to sell its reverse mortgage servicing business, Financial Freedom, and its reverse mortgage portfolio to an undisclosed buyer. The transaction includes the sale of mortgage servicing rights and approximately $900M of reverse mortgage whole loans, including other real estate owned assets as of June 30, 2017. The transaction is expected to close in the second quarter of 2018 and is subject to certain regulatory and investor approvals and other customary closing conditions.

CIT CIT Group
$49.37

-0.01 (-0.02%)

04/26/17
BOFA
04/26/17
UPGRADE
BOFA
Buy
CIT Group upgraded to Buy, transitioning to a mid-size bank, says BofA/Merrill
BofA/Merrill analyst Derek Hewett upgraded CIT Group to Buy from Neutral and raised its price target to $54 from $44 saying its transition to a domestic mid-sized bank from a sub-scale global financial is nearly complete. The analyst believes CIT's improving earnings visibility and profitability are underappreciated and expects shares to lift as the market begins to value CIT more like a national middle-market bank. Hewett also believes management may explore other strategic alternatives given the more favorable operating backdrop and less complex structure.
06/06/17
OPCO
06/06/17
NO CHANGE
Target $54
OPCO
Outperform
CIT Group remains 'compelling' value in banking, says Oppenheimer
Despite rising 22% since the announced sale of its commercial aircraft business on October 6, shares of CIT Group remains one of the most "compelling values" in the banking sector, Oppenheimer analyst Chris Kotowski tells investors in a research note. The stock remains "way too cheap" at around tangible book value, the analyst contends. He keeps an Outperform rating on CIT with a $54 price target.
07/17/17
SPHN
07/17/17
UPGRADE
SPHN
Overweight
CIT Group upgraded to Overweight from Equal Weight at Stephens
07/25/17
BTIG
07/25/17
NO CHANGE
Target $57
BTIG
Buy
CIT Group price target raised to $57 from $52 at BTIG
BTIG analyst Mark Palmer raised his price target for CIT Group shares to $57 following the company's "solid" Q2 results. The analyst views the stock as inexpensive and expects the valuation to move towards typical commercial banks as management continues their plans to become a simplified, U.S.-focused bank. He reiterates a Buy rating on CIT.

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HST

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TEO

Telecom Argentina

$34.09

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MSA

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$80.25

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NEM

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, HRL

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AIMT

Aimmune

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$16.28

-0.28 (-1.69%)

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SSNLF

Samsung

, QCOM

Qualcomm

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CATY

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SUN

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$30.00

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