Do Traders Think CIT Group Inc. (CIT) Can Turn Around Friday?

Friday, December 31, 2021 11:48 AM | InvestorsObserver Analysts

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Do Traders Think CIT Group Inc. (CIT) Can Turn Around Friday?

CIT Group Inc. (CIT) stock has fallen 5.54% over the past week and gets a Bearish rating from InvestorsObserver Sentiment Indicator.

CIT Group Inc. has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on CIT!

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What is Stock Sentiment?

In investing, sentiment generally means whether or not a given security is in favor with investors. It is typically a pretty short-term metric that relies entirely on technical analysis. That means it doesn’t incorporate anything to do with the health or profitability of the underlying company. Recent trends are a good indicator of current market sentiments. In its most basic form, stocks that are trending up are desirable by investors while stocks currently falling must be unattractive. InvestorsObserver's Sentimental Indicator tracks both changes in price and volume to analyze the most recent trends. Typically an increase in volume indicates ongoing trends are getting stronger, while a decrease in volume usually signals an end to the current trend. Available options can also represent current sentiments for a given stock. Since investors are able to bet on future trends of stocks using options, we consider the ratio of calls to puts when analyzing market sentiments .

What's Happening With CIT Stock Today?

CIT Group Inc. (CIT) stock is up 0.68% while the S&P 500 has fallen -0.07% as of 11:47 AM on Friday, Dec 31. CIT has risen $0.34 from the previous closing price of $50.30 on volume of 718,431 shares. Over the past year the S&P 500 is up 27.95% while CIT has risen 42.85%. CIT earned $6.86 a per share in the over the last 12 months, giving it a price-to-earnings ratio of 7.38.

More About CIT Group Inc.

CIT Group Inc is a banking holding company and a financial holding company operating primarily in North America. It provides financing, leasing, and advisory services primarily to middle-market companies in a diverse group of industries. The company's banking subsidiary mostly operates in Southern California and offers both commercial and retail banking services. The company sources its commercial lending business through direct marketing to customers, vendors, and distributors, among other parties. The company generates revenue by earning interest on loans and investments, as well as commission, fees, and rental income on leased equipment and other financial services. The company also syndicates and sells finance receivables. Click Here to get the full Stock Report for CIT Group Inc. stock.