According to the Daily Quint, citing data from Holdings Channel, in Q3/16 Sumitomo Mitsui Asset Management increased its position in CIT Group by 0.5%.

The Quint noted that a number of other institutional investors also recently boosted their stakes in the company including Geode Capital Management, FSI Group, Kingstown Capital Management and BlackRock Advisors.

The Quint said that seven equities research analysts have assigned a buy rating to the company’s stock, which has an average target price of $41.50.