CIT Group Two Week September Update

CIT Group (CIT) dropped 2.45% over the first two weeks of September. Having a very volatile month ranging from lows of 41.60 to highs of 43.30. CIT Group heavily dropped on the morning of September 1^st much like the rest of the market. CIT Group has had no major news over the past two weeks. Just to recap some important events that occurred is that CIT Group and OneWest Bank merger has finally closed and was a major catalyst in the portfolio model. This will be able to reduce the expenses CIT Group has and improve their net financing margin. CIT Group is still waiting to see if interest rates will increase to see if they could further improve their net financing margin.