About CIT Group Inc (DEL) (NYSE:CIT)
CIT Group Inc. (CIT) is a bank holding company (BHC) and a financial holding company (FHC). The Company, together with its subsidiaries, provides financing, leasing and advisory services to middle market companies in a range of industries in North America. The Company's segments include Commercial Banking, Consumer Banking, Non-Strategic Portfolios, and Corporate and Other. The Commercial Banking segment consists of four divisions: Commercial Finance, Rail, Real Estate Finance, and Business Capital. The Consumer Banking segment includes Retail Banking, Mortgage Lending, and SBA Lending (together referred to as Other Consumer Banking), and Legacy Consumer Mortgages (LCM). The Company's products and services include account receivables collection, acquisition and expansion financing, asset management and servicing, asset-based loans, debt underwriting and syndication, deposits, enterprise value and cash flow loans, equipment leases, factoring services and financial risk management.
Industry, Sector and Symbol:
- Sector: Finance
- Industry: Banks
- Sub-Industry: Regional Banks
- Symbol: NYSE:CIT
- CUSIP: 12558180
- Web: www.cit.com
- Market Cap: $6.75922 billion
- Outstanding Shares: 135,428,000
- 50 Day Moving Avg: $47.62
- 200 Day Moving Avg: $46.89
- 52 Week Range: $35.14 - $50.40
Sales & Book Value:
- Trailing P/E Ratio: N/A
- Foreward P/E Ratio: 12.51
- P/E Growth: 3.54
- Annual Revenue: $2.15 billion
- Price / Sales: 3.11
- Book Value: $51.88 per share
- Price / Book: 0.95
- Annual Dividend: $0.60
- Dividend Yield: 1.2%
- Net Margins: -20.50%
- Return on Equity: 5.66%
- Return on Assets: 0.89%
- Debt-to-Equity Ratio: 1.23%
- Current Ratio: 1.10%
- Quick Ratio: 1.10%
- Average Volume: 1.27 million shs.
- Beta: 1.5
- Short Ratio: 6.99
Frequently Asked Questions for CIT Group Inc (DEL) (NYSE:CIT)
What is CIT Group Inc (DEL)'s stock symbol?
CIT Group Inc (DEL) trades on the New York Stock Exchange (NYSE) under the ticker symbol "CIT."
How often does CIT Group Inc (DEL) pay dividends? What is the dividend yield for CIT Group Inc (DEL)?
CIT Group Inc (DEL) declared a quarterly dividend on Monday, October 16th. Stockholders of record on Friday, November 10th will be given a dividend of $0.16 per share on Friday, November 24th. This represents a $0.64 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Thursday, November 9th. This is a boost from CIT Group Inc (DEL)'s previous quarterly dividend of $0.15. View CIT Group Inc (DEL)'s Dividend History.
How will CIT Group Inc (DEL)'s stock buyback program work?
CIT Group Inc (DEL) announced that its board has approved a share repurchase plan on Thursday, June 29th 2017, which permits the company to buyback $225,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization permits the company to reacquire up to 2.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its stock is undervalued.
How were CIT Group Inc (DEL)'s earnings last quarter?
CIT Group Inc (DEL) (NYSE:CIT) announced its quarterly earnings data on Thursday, July, 28th. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.77 by $0.13. The firm had revenue of $645.10 million for the quarter, compared to analysts' expectations of $620.33 million. CIT Group Inc (DEL) had a negative net margin of 20.50% and a positive return on equity of 5.66%. The company's quarterly revenue was up 58.7% compared to the same quarter last year. During the same period last year, the business posted $0.66 earnings per share. View CIT Group Inc (DEL)'s Earnings History.
When will CIT Group Inc (DEL) make its next earnings announcement?
Where is CIT Group Inc (DEL)'s stock going? Where will CIT Group Inc (DEL)'s stock price be in 2017?
12 equities research analysts have issued 1-year target prices for CIT Group Inc (DEL)'s shares. Their forecasts range from $31.00 to $60.00. On average, they expect CIT Group Inc (DEL)'s stock price to reach $48.63 in the next twelve months. View Analyst Ratings for CIT Group Inc (DEL).
Who are some of CIT Group Inc (DEL)'s key competitors?
Some companies that are related to CIT Group Inc (DEL) include BanColombia S.A. (CIB), SVB Financial Group (SIVB), East West Bancorp (EWBC), Macro Bank (BMA), Signature Bank (SBNY), Grupo Financiero Galicia S.A. (GGAL), Cullen/Frost Bankers (CFR), New York Community Bancorp (NYCB), Commerce Bancshares (CBSH), PacWest Bancorp (PACW), Bank of the Ozarks (OZRK), Synovus Financial Corp. (SNV), Webster Financial Corporation (WBS), City National Corp (CYN), First Citizens BancShares (FCNCA), First Horizon National Corporation (FHN), Umpqua Holdings Corporation (UMPQ) and Wintrust Financial Corporation (WTFC).
Who are CIT Group Inc (DEL)'s key executives?
CIT Group Inc (DEL)'s management team includes the folowing people:
- Ellen R. Alemany, Chairwoman and Chief Executive Officer of CIT Group and Chairwoman, CEO and President of CIT Bank
- John J. Fawcett, Chief Financial Officer, Executive Vice President
- George D Cashman MBA, President - CIT Rail
- Matthew Galligan, President - CIT Real Estate Finance
- James L. Hudak, President - CIT Commercial Finance
- Steven Solk, President of Consumer Banking, President, California and President, CIT Business Capital
- James Duffy, Executive Vice President and Chief Human Resources Officer
- Gina M. Proia, Executive Vice President, Chief Marketing and Communications Officer
- Robert C. Rowe, Executive Vice President, Chief Risk Officer
- Stuart A. Alderoty, Executive Vice President, General Counsel, Corporate Secretary
Who owns CIT Group Inc (DEL) stock?
CIT Group Inc (DEL)'s stock is owned by a number of of retail and institutional investors. Top institutional investors include APG Asset Management N.V. (0.31%), Nationwide Fund Advisors (0.25%), Kirr Marbach & Co. LLC IN (0.17%), Strs Ohio (0.09%), Shell Asset Management Co. (0.02%) and Fox Run Management L.L.C. (0.00%). Company insiders that own CIT Group Inc (DEL) stock include Alan L Frank, Edward K Sperling, James L Hudak, John A Thain, Matthew Galligan, Michael L Brosnan, R Brad Oates, Robert Rowe, Steve Solk and Steven T Mnuchin. View Institutional Ownership Trends for CIT Group Inc (DEL).
Who sold CIT Group Inc (DEL) stock? Who is selling CIT Group Inc (DEL) stock?
CIT Group Inc (DEL)'s stock was sold by a variety of institutional investors in the last quarter, including APG Asset Management N.V.. Company insiders that have sold CIT Group Inc (DEL) stock in the last year include Edward K Sperling, James L Hudak, Matthew Galligan, R Brad Oates, Robert Rowe and Steve Solk. View Insider Buying and Selling for CIT Group Inc (DEL).
Who bought CIT Group Inc (DEL) stock? Who is buying CIT Group Inc (DEL) stock?
CIT Group Inc (DEL)'s stock was acquired by a variety of institutional investors in the last quarter, including Nationwide Fund Advisors, Kirr Marbach & Co. LLC IN, Shell Asset Management Co., Strs Ohio and Fox Run Management L.L.C.. Company insiders that have bought CIT Group Inc (DEL) stock in the last two years include Alan L Frank, John A Thain, Michael L Brosnan and Steven T Mnuchin. View Insider Buying and Selling for CIT Group Inc (DEL).
How do I buy CIT Group Inc (DEL) stock?
Shares of CIT Group Inc (DEL) can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is CIT Group Inc (DEL)'s stock price today?
MarketBeat Community Rating for CIT Group Inc (DEL) (NYSE CIT)MarketBeat's community ratings are surveys of what our community members think about CIT Group Inc (DEL) and other stocks. Vote "Outperform" if you believe the stock will outperform the S&P 500 over the long term. Vote "Underperform" if you believe the stock will underperform the S&P 500 over the long term. You may vote once every thirty days.
One share of CIT Group Inc (DEL) stock can currently be purchased for approximately $49.42.
Consensus Ratings for CIT Group Inc (DEL) (NYSE:CIT) (How are Consensus Ratings Calculated?)
MarketBeat calculates consensus ratings using the most recent rating from each brokerage that has rated a stock within the last twelve months. Since brokers often use different ratings systems, each rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings. Each stock's consensus rating is derived from its calculated consensus ratings score (0-1.5 = Sell, 1.5-2.5 = Hold, 2.5-3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months.
MarketBeat will no longer include ratings and price target data in its consensus calculation if a broker drops coverage and MarketBeat has received a report that coverage was dropped. Ratings from certain research firms that issue ratings using purely quantitative methods (such as Zacks, Vetr and ValuEngine) are not included in consensus calculations. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.
|Ratings Breakdown: ||1 Sell Rating, 4 Hold Ratings, 7 Buy Ratings|
|Consensus Rating:||Buy (Score: 2.50)|
|Consensus Price Target: ||$48.63 (1.61% downside)|Consensus Price Target History for CIT Group Inc (DEL) (NYSE:CIT)
Analysts' Ratings History for CIT Group Inc (DEL) (NYSE:CIT)
(Data available from 10/24/2015 forward)
|Date||Firm||Action||Rating||Price Target||Impact on Share Price||Details|
|10/16/2017||Citigroup Inc.||Initiated Coverage||Buy||$60.00||N/A|
|10/6/2017||BMO Capital Markets||Reiterated Rating||Sell||$31.00||N/A|
|10/3/2017||Keefe, Bruyette & Woods||Reiterated Rating||Hold||$47.00||Low|
|9/18/2017||Morgan Stanley||Boost Price Target||Equal Weight||$50.00 -> $51.00||Low|
|7/25/2017||BTIG Research||Reiterated Rating||Buy||$57.00||Low|
|7/17/2017||Stephens||Upgrade||Equal Weight -> Overweight||Medium|
|7/13/2017||JMP Securities||Boost Price Target||Market Outperform||$49.00 -> $54.00||Low|
|7/11/2017||Oppenheimer Holdings, Inc.||Reiterated Rating||Outperform||Low|
|7/2/2017||Credit Suisse Group||Reiterated Rating||Hold||$48.00||Medium|
|4/26/2017||Bank of America Corporation||Upgrade||Neutral -> Buy||Low|
|2/1/2017||Barclays PLC||Lower Price Target||$41.00||N/A|
|10/7/2016||Stifel Nicolaus||Downgrade||Buy -> Hold||$40.00 -> $41.00||N/A|
|7/29/2016||Nomura||Boost Price Target||Neutral||$33.00 -> $35.00||N/A|
|6/15/2016||Deutsche Bank AG||Reiterated Rating||Hold||N/A|
|3/28/2016||Sterne Agee CRT||Downgrade||Buy -> Neutral||$37.00||N/A|
|3/24/2016||Drexel Hamilton||Reiterated Rating||Buy||$48.00||N/A|
|2/3/2016||Goldman Sachs Group, Inc. (The)||Lower Price Target||Neutral||$47.00 -> $42.00||N/A|
|2/3/2016||DA Davidson||Lower Price Target||Buy||$46.00||N/A|
Earnings History for CIT Group Inc (DEL) (NYSE:CIT)Earnings History by Quarter for CIT Group Inc (DEL) (NYSE CIT)
(Data available from 1/1/2011 forward)
|Date||Quarter||Consensus Estimate||Actual EPS||Revenue Estimate||Actual Revenue||Release Link||Conference Call||Details|
|7/25/2017||Q2 2017||$0.60||$0.68||$500.05 million||$605.00 million||View||N/A|
|4/25/2017||Q1 2017||$0.52||$0.54||$499.98 million||$495.70 million||View||N/A|
|1/31/2017||Q416||$0.78||$0.59||$620.30 million||$309.90 million||View||N/A|
|10/25/2016||Q316||$0.79||$0.73||$622.98 million||$608.70 million||View||Listen|
|7/28/2016||Q216||$0.77||$0.90||$620.33 million||$645.10 million||View||Listen|
|4/28/2016||Q116||$0.76||$0.75||$630.40 million||$653.80 million||View||Listen|
|2/2/2016||Q415||$0.83||$0.72||$598.07 million||$558.60 million||View||N/A|
|11/3/2015||Q315||$0.75||$0.26||$462.27 million||$735.90 million||View||N/A|
|7/28/2015||Q215||$0.68||$0.66||$437.50 million||$613.80 million||View||Listen|
|4/28/2015||Q115||$0.78||$0.62||$456.74 million||$423.80 million||View||N/A|
|1/27/2015||Q414||$0.94||$1.13||$453.20 million||$306.20 million||View||N/A|
|10/28/2014||Q314||$0.90||$2.76||$432.70 million||$592.30 million||View||N/A|
|7/22/2014||Q214||$0.86||$1.02||$420.38 million||$660.90 million||View||N/A|
|4/29/2014||Q114||$0.87||$0.55||$440.50 million||$598.50 million||View||N/A|
|1/27/2014||Q413||$0.83||$0.65||$57.48 million||$337.00 million||View||N/A|
|7/23/2013||Q2 2013||$0.90||$0.91||$83.47 million||$351.60 million||View||N/A|
|4/23/2013||Q1 2013||$0.89||$0.81||$65.72 million||$355.80 million||View||N/A|
|1/29/2013||Q4 2012||$0.68||$1.03||$0.40 million||$357.00 million||View||N/A|
Earnings Estimates for CIT Group Inc (DEL) (NYSE:CIT)
2017 EPS Consensus Estimate: $2.56
2018 EPS Consensus Estimate: $3.86
(Data provided by Zacks Investment Research)
|Quarter||Number of Estimates||Low Estimate||High Estimate||Average Estimate|
Current Dividend Information for CIT Group Inc (DEL) (NYSE:CIT)
|Dividend Growth:||81.70% (3 Year Average)|
|Payout Ratio:||-18.02% (Trailing 12 Months of Earnings) |
21.28% (Based on This Year's Estimates)
15.19% (Based on Next Year's Estimates)
Dividend History by Quarter for CIT Group Inc (DEL) (NYSE CIT)
(Data available from 1/1/2013 forward)
|Announced||Period||Amount||Yield||Ex-Dividend Date||Record Date||Payable Date|
Insider Trading and Institutional Ownership History for CIT Group Inc (DEL) (NYSE:CIT)
Insider Ownership Percentage: 0.47%Insider Trades by Quarter for CIT Group Inc (DEL) (NYSE:CIT)
(Data available from 1/1/2013 forward)
|Transaction Date||Insider Name||Title||Buy/Sell||Number of Shares||Average Share Price||Total Transaction||Details|
|8/25/2017||Steve Solk||Insider||Sell||1,460||$45.00||$65,700.00|| |
|8/11/2017||James L Hudak||Insider||Sell||2,100||$46.18||$96,978.00|| |
|6/9/2017||Michael L Brosnan||Director||Buy||24||$45.68||$1,096.32|| |
|6/5/2017||James L Hudak||Insider||Sell||2,250||$44.50||$100,125.00|| |
|5/30/2017||Robert Rowe||EVP||Sell||9,244||$45.58||$421,341.52|| |
|5/26/2017||Edward K Sperling||EVP||Sell||4,480||$45.76||$205,004.80|| |
|2/27/2017||R. Brad Oates||Director||Sell||7,030||$42.78||$300,743.40|| |
|2/6/2017||Matthew Galligan||Insider||Sell||5,097||$42.14||$214,787.58|| |
|2/11/2016||Steven T. Mnuchin||Vice Chairman||Buy||80,000||$25.64||$2,051,200.00|| |
|2/9/2016||Steven T. Mnuchin||Vice Chairman||Buy||149,800||$26.68||$3,996,664.00|| |
|2/4/2016||Alan L Frank||Director||Buy||2,000||$27.72||$55,440.00|| |
|2/4/2016||John A Thain||CEO||Buy||50,000||$27.31||$1,365,500.00|| |
|2/4/2016||Steven T Mnuchin||Vice Chairman||Buy||114,623||$27.77||$3,183,080.71|| |
|5/15/2014||John Thain||CEO||Buy||40,000||$41.54||$1,661,600.00|| |
|10/26/2012||Michael J Embler||Director||Buy||1,500||$37.60||$56,400.00|| |
Headline Trends for CIT Group Inc (DEL) (NYSE:CIT)
Latest Headlines for CIT Group Inc (DEL) (NYSE:CIT)
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CIT Group Inc (DEL) (CIT) Chart for Tuesday, October, 24, 2017