Pinnacle Financial Partners Lifted By $317,016 Its United Parcel Service (UPS) Holding; Shorts at Cit Group (del) (CIT) Lowered By 6.93%

May 24, 2018 - By Richard Conner

CIT Group Inc. (NYSE:CIT) Logo

Cit Group Inc (del) (NYSE:CIT) had a decrease of 6.93% in short interest. CIT’s SI was 4.45M shares in May as released by FINRA. Its down 6.93% from 4.78M shares previously. With 898,300 avg volume, 5 days are for Cit Group Inc (del) (NYSE:CIT)’s short sellers to cover CIT’s short positions. The SI to Cit Group Inc (del)’s float is 3.41%. The stock decreased 4.03% or $2.225 during the last trading session, reaching $53.035. About 3.53M shares traded or 183.50% up from the average. CIT Group Inc. (NYSE:CIT) has risen 25.02% since May 24, 2017 and is uptrending. It has outperformed by 13.47% the S&P500.

Pinnacle Financial Partners Inc increased United Parcel Service Inc (UPS) stake by 39.24% reported in 2017Q4 SEC filing. Pinnacle Financial Partners Inc acquired 2,664 shares as United Parcel Service Inc (UPS)’s stock declined 13.88%. The Pinnacle Financial Partners Inc holds 9,453 shares with $1.13M value, up from 6,789 last quarter. United Parcel Service Inc now has $99.61B valuation. The stock increased 0.28% or $0.32 during the last trading session, reaching $115.6. About 1.09 million shares traded. United Parcel Service, Inc. (NYSE:UPS) has declined 2.49% since May 24, 2017 and is downtrending. It has underperformed by 14.04% the S&P500.

Since March 1, 2018, it had 0 insider buys, and 1 insider sale for $107,268 activity. On Thursday, March 1 HUDAK JAMES L sold $107,268 worth of CIT Group Inc. (NYSE:CIT) or 2,000 shares.

Investors sentiment decreased to 0.9 in Q4 2017. Its down 0.11, from 1.01 in 2017Q3. It is negative, as 31 investors sold CIT Group Inc. shares while 97 reduced holdings. 41 funds opened positions while 74 raised stakes. 129.34 million shares or 3.85% less from 134.52 million shares in 2017Q3 were reported. Eaton Vance Management reported 66,161 shares or 0.01% of all its holdings. Shell Asset has 5,692 shares for 0.01% of their portfolio. 76,513 are held by Aviva Public Limited Co. Invesco Limited, Georgia-based fund reported 99,036 shares. Quantbot Technologies L P reported 18,438 shares. Utah Retirement stated it has 0.03% in CIT Group Inc. (NYSE:CIT). Sweden-based Nordea Invest Management Ab has invested 0.02% in CIT Group Inc. (NYSE:CIT). Nwq Limited Com reported 3.51M shares stake. Ghp Invest Advsr accumulated 20,253 shares. Tiaa Cref Mgmt Llc holds 810,622 shares or 0.03% of its portfolio. Ny State Common Retirement Fund invested in 543,505 shares or 0.03% of the stock. Nuveen Asset Ltd accumulated 0.13% or 397,276 shares. 52,250 are owned by Barnett & Inc. Franklin Inc holds 0.26% or 11.05 million shares in its portfolio. Lpl Financial Ltd Company stated it has 37,389 shares or 0.01% of all its holdings.

Among 20 analysts covering CIT Group (NYSE:CIT), 8 have Buy rating, 0 Sell and 12 Hold. Therefore 40% are positive. CIT Group had 68 analyst reports since July 23, 2015 according to SRatingsIntel. The rating was upgraded by Macquarie Research to “Outperform” on Thursday, October 22. UBS initiated the stock with “Hold” rating in Tuesday, March 27 report. The stock of CIT Group Inc. (NYSE:CIT) earned “Hold” rating by Keefe Bruyette & Woods on Friday, May 26. The company was maintained on Thursday, June 15 by BMO Capital Markets. The stock of CIT Group Inc. (NYSE:CIT) has “Outperform” rating given on Tuesday, January 5 by Oppenheimer. The firm earned “Hold” rating on Thursday, July 27 by Keefe Bruyette & Woods. On Monday, February 5 the stock rating was upgraded by BMO Capital Markets to “Market Perform”. BMO Capital Markets maintained CIT Group Inc. (NYSE:CIT) rating on Tuesday, January 30. BMO Capital Markets has “Sell” rating and $48.0 target. Morgan Stanley maintained the stock with “Equal-Weight” rating in Monday, September 18 report. Oppenheimer maintained the shares of CIT in report on Monday, March 26 with “Buy” rating.

CIT Group Inc. operates as the bank holding firm for CIT Bank, National Association that provides banking and related services to commercial and individual customers. The company has market cap of $6.74 billion. The firm operates through Commercial Banking, Consumer Banking, Non-Strategic Portfolios , and Corporate and Other divisions. It has a 18.98 P/E ratio. The Commercial Banking segment offers lending, leasing, and other financial and advisory services primarily to small and middle-market companies; factoring and secured financing services, as well as receivables management products to the retail supply chain; and equipment leasing and secured financing to the rail industry.

More notable recent CIT Group Inc. (NYSE:CIT) news were published by: Gurufocus.com which released: “CIT Announces Preliminary Results of Cash Tender Offer for Its Common Stock” on May 24, 2018, also Prnewswire.com with their article: “CIT Closes $25 Million Loan to Friendly Franchisees Corporation” published on May 23, 2018, Prnewswire.com published: “CIT Serves As Sole Lead Arranger On $107.5 Million For Oakland Residential Project” on May 22, 2018. More interesting news about CIT Group Inc. (NYSE:CIT) were released by: Twst.com and their article: “CIT Group Inc.: CIT Closes $25 Million Loan to Friendly Franchisees Corporation” published on May 23, 2018 as well as Globenewswire.com‘s news article titled: “Recent Analysis Shows CIT Group, Republic Services, Etsy, Tiffany, Booz Allen Hamilton Holding, and EOG Resources …” with publication date: May 09, 2018.

Pinnacle Financial Partners Inc decreased Alps Etf Tr (AMLP) stake by 41,521 shares to 295,385 valued at $3.19 million in 2017Q4. It also reduced Vanguard Intl Equity Index F (VEU) stake by 7,539 shares and now owns 53,731 shares. Ishares Tr (IWD) was reduced too.

More notable recent United Parcel Service, Inc. (NYSE:UPS) news were published by: Benzinga.com which released: “Bernstein: Amazon Flex Is No Threat To FedEx, UPS” on May 24, 2018, also Globenewswire.com with their article: “UPS Launches New Technology To Optimize Field Inventory For Critical Medical Devices” published on May 24, 2018, Globenewswire.com published: “UPS Facility Technology Wins Prestigious Innovation Award” on May 10, 2018. More interesting news about United Parcel Service, Inc. (NYSE:UPS) were released by: Streetinsider.com and their article: “UPS hits customers with new fees for oversized packages” published on May 23, 2018 as well as Globenewswire.com‘s news article titled: “UPS Holds Shareowners’ Meeting, Elects Board Members” with publication date: May 10, 2018.

Since February 26, 2018, it had 0 insider buys, and 2 selling transactions for $650,730 activity. $170,130 worth of United Parcel Service, Inc. (NYSE:UPS) was sold by Brothers Norman M. Jr. 4,500 shares were sold by McClure Teri P, worth $480,600 on Monday, February 26.

Among 24 analysts covering United Parcel Service (NYSE:UPS), 12 have Buy rating, 1 Sell and 11 Hold. Therefore 50% are positive. United Parcel Service had 75 analyst reports since July 29, 2015 according to SRatingsIntel. The company was maintained on Wednesday, September 20 by Oppenheimer. The company was initiated on Tuesday, December 13 by JP Morgan. The company was downgraded on Friday, February 23 by Deutsche Bank. Robert W. Baird maintained the stock with “Hold” rating in Friday, October 27 report. BMO Capital Markets maintained United Parcel Service, Inc. (NYSE:UPS) rating on Tuesday, September 5. BMO Capital Markets has “Hold” rating and $115.0 target. As per Friday, October 27, the company rating was maintained by BMO Capital Markets. The company was maintained on Thursday, October 5 by Robert W. Baird. The stock of United Parcel Service, Inc. (NYSE:UPS) has “Buy” rating given on Tuesday, March 6 by Stifel Nicolaus. The stock of United Parcel Service, Inc. (NYSE:UPS) earned “Hold” rating by Cowen & Co on Monday, October 23. The firm has “Hold” rating given on Thursday, February 1 by Robert W. Baird.

United Parcel Service, Inc. (NYSE:UPS) Institutional Positions Chart

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