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CIT

CIT Group

$45.65

1.36 (3.07%)

06:47
10/22/19
10/22
06:47
10/22/19
06:47

CIT Group reports Q3 EPS $1.50, consensus $1.21

Reports Q3 revenue $454M, consensus $460.86M. Reports Q3 tangible book value per share $55.60. Reports Q3 CET1 capital ratio 11.6%. Reports Q3 net charge-offs .34%. "We posted solid third quarter results, despite a challenging rate environment," said CIT chairwoman and CEO Ellen Alemany. "We grew average core loans and leases by 2 percent, had strong credit performance, maintained disciplined expense management and increased tangible book value per share to $55.60. We expect the acquisition of Mutual of Omaha Bank to accelerate our strategic plan and improve returns. We remain focused on closing the transaction in the first quarter, pending regulatory approval."

  • 22

    Oct

CIT CIT Group
$45.65

1.36 (3.07%)

01/30/19
OPCO
01/30/19
NO CHANGE
Target $61
OPCO
Outperform
CIT Group price target raised to $61 from $49 at Oppenheimer
Oppenheimer analyst Chris Kotowski raised his price target for CIT Group to $61 from $49 following better than expected quarterly results. The analyst reiterates an Outperform rating on the shares.
04/24/19
OPCO
04/24/19
NO CHANGE
Target $71
OPCO
Outperform
CIT Group price target raised to $71 from $63 at Oppenheimer
Oppenheimer analyst Chris Kotowski raised his price target for CIT Group to $71 from $63 on higher earnings and a higher market multiple. The analyst notes that the first-quarter had "no noteworthy items" for the first time in memory. He reiterates an Outperform rating on the shares.
04/24/19
SBSH
04/24/19
NO CHANGE
Target $62
SBSH
Buy
CIT Group price target raised to $62 from $55 at Citi
Citi analyst Arren Cyganovich raised his price target for CIT Group to $62 from $55 citing an improved earnings outlook following the company's Q1 results. Fundamentals "appear to be in good shape, and the pause in rate hikes likely helps CIT given its higher-cost online deposit franchise positioning," Cyganovich tells investors in a research note. He reiterates a Buy rating on the stock.
08/14/19
COMP
08/14/19
NO CHANGE
Target $57
COMP
Buy
Compass Point says CIT could be more attractive target by being more 'bank-like'
Compass Point analyst Scott Valentin lowered his price target on CIT Group shares to $57 from $62 after the company announced a definitive agreement to acquire Mutual of Omaha Bank for a purchase price of $1B. Continuing share repurchases would have been more accretive in the near-term, but he views the acquisition positively from a longer-term strategic perspective as it advances CIT's goal of becoming more "bank-like," improves the quality of the deposit base and has the potential to reduce required operating capital levels, depending on how the Federal Reserve perceives the combined entity. Additionally, by becoming more bank-like, Valentin thinks CIT becomes a more attractive acquisition candidate, the analyst noted. He keeps a Buy rating on CIT Group shares.

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