About CIT Group (NYSE:CIT)
CIT Group Inc. operates as the bank holding company for CIT Bank, National Association that provides banking and related services to commercial and individual customers. The company operates through three segments: Commercial Banking, Consumer Banking, and Non-Strategic Portfolios (NSP). The Commercial Banking segment offers lending, leasing, and other financial and advisory services primarily to small and middle-market companies; factoring, receivables management products, and secured supply chain financing; and equipment leasing and secured financing to railroads and non-rail companies. The Consumer Banking segment provides mortgage loans and deposits. It accepts deposits, including checking and savings accounts, money market accounts, and certificates of deposit; and offers residential mortgage and small business administration loans, and reverse mortgages, as well as fiduciary services. The NSP segment provides equipment financing, secured lending, and leasing and advisory services to small and middle-market businesses. The company also offers online banking services. It operates through a network of 70 branches located in southern California. CIT Group Inc. was founded in 1908 and is headquartered in Livingston, New Jersey.
Industry, Sector and Symbol
Industry National commercial banks
Trailing P/E Ratio16.61
Forward P/E Ratio12.78
Sales & Book Value
Annual Sales$3.21 billion
Price / Sales2.02
Cash Flow$8.8524 per share
Price / Cash5.76
Book Value$53.29 per share
Price / Book0.96
EPS (Most Recent Fiscal Year)$3.07
Net Income$468.20 million
Return on Equity7.76%
Return on Assets1.08%
CIT Group (NYSE:CIT) Frequently Asked Questions
What is CIT Group's stock symbol?
CIT Group trades on the New York Stock Exchange (NYSE) under the ticker symbol "CIT."
How often does CIT Group pay dividends? What is the dividend yield for CIT Group?
CIT Group declared a quarterly dividend on Monday, April 16th. Shareholders of record on Friday, May 11th will be given a dividend of $0.16 per share on Friday, May 25th. This represents a $0.64 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Thursday, May 10th. View CIT Group's Dividend History.
How will CIT Group's stock buyback program work?
CIT Group declared that its board has initiated a share buyback program on Thursday, June 29th 2017, which permits the company to buyback $225,000,000.00 in shares, according to EventVestor. This buyback authorization permits the company to reacquire up to 2.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its stock is undervalued.
How were CIT Group's earnings last quarter?
CIT Group (NYSE:CIT) released its quarterly earnings results on Tuesday, April, 24th. The financial services provider reported $0.74 EPS for the quarter, missing the Zacks' consensus estimate of $0.96 by $0.22. The financial services provider had revenue of $495 million for the quarter, compared to analysts' expectations of $481 million. CIT Group had a net margin of 11.93% and a return on equity of 7.76%. During the same period in the previous year, the firm earned $0.54 EPS. View CIT Group's Earnings History.
When is CIT Group's next earnings date?
What price target have analysts set for CIT?
13 Wall Street analysts have issued 12-month target prices for CIT Group's stock. Their predictions range from $46.00 to $60.00. On average, they anticipate CIT Group's share price to reach $54.8182 in the next year. View Analyst Ratings for CIT Group.
Are investors shorting CIT Group?
CIT Group saw a increase in short interest in the month of May. As of May 31st, there was short interest totalling 10,624,123 shares, an increase of 158.9% from the May 15th total of 4,104,068 shares. Based on an average trading volume of 3,775,563 shares, the short-interest ratio is presently 2.8 days. Approximately 8.4% of the shares of the stock are sold short.
Who are some of CIT Group's key competitors?
Some companies that are related to CIT Group include KeyCorp (KEY), Regions Financial (RF), Shinhan Financial Group (SHG), BANCO DO BRASIL/S (BDORY), Huntington Bancshares (HBAN), Comerica (CMA), Zions Bancorp (ZION), Cullen/Frost Bankers (CFR), PacWest Bancorp (PACW), BOK Financial (BOKF), Synovus Financial (SNV), Akbank T.A.S. (AKBTY), First Horizon National (FHN), Webster Bank (WBS) and Sterling Bancorp (STL).
Who are CIT Group's key executives?
CIT Group's management team includes the folowing people:
- Ms. Ellen R. Alemany, Chairwoman & CEO (Age 62)
- Mr. John J. Fawcett, Exec. VP & CFO (Age 59)
- Mr. James L. Hudak, Pres of Commercial Fin. (Age 54)
- Mr. Steven Solk, Pres of CIT Consumer Banking & Pres of California (Age 63)
- Ms. Denise M. Menelly, EVP & Head of Technology and Operations (Age 56)
Has CIT Group been receiving favorable news coverage?
News articles about CIT stock have been trending somewhat positive recently, Accern Sentiment reports. Accern scores the sentiment of press coverage by monitoring more than 20 million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. CIT Group earned a daily sentiment score of 0.11 on Accern's scale. They also gave news articles about the financial services provider an impact score of 46.55 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock's share price in the next few days.
Who are CIT Group's major shareholders?
CIT Group's stock is owned by a variety of of retail and institutional investors. Top institutional shareholders include Franklin Resources Inc. (7.66%), First Pacific Advisors LLC (7.39%), BlackRock Inc. (5.47%), LSV Asset Management (2.92%), Thompson Siegel & Walmsley LLC (1.92%) and Dimensional Fund Advisors LP (1.74%). Company insiders that own CIT Group stock include Denise M Menelly, Edward K Sperling, James L Hudak, Matthew Galligan, Michael L Brosnan, R Brad Oates, Robert Rowe, Sheila A Stamps and Steve Solk. View Institutional Ownership Trends for CIT Group.
Which major investors are selling CIT Group stock?
CIT stock was sold by a variety of institutional investors in the last quarter, including First Pacific Advisors LLC, Franklin Resources Inc., Federated Investors Inc. PA, Russell Investments Group Ltd., JPMorgan Chase & Co., Thompson Siegel & Walmsley LLC, Dalton Greiner Hartman Maher & Co. and Lord Abbett & CO. LLC. Company insiders that have sold CIT Group company stock in the last year include Denise M Menelly, James L Hudak, Sheila A Stamps and Steve Solk. View Insider Buying and Selling for CIT Group.
Which major investors are buying CIT Group stock?
CIT stock was bought by a variety of institutional investors in the last quarter, including OppenheimerFunds Inc., Royal Bank of Canada, Prudential Financial Inc., Dimensional Fund Advisors LP, Mackay Shields LLC, Millennium Management LLC, LSV Asset Management and Teacher Retirement System of Texas. View Insider Buying and Selling for CIT Group.
How do I buy shares of CIT Group?
Shares of CIT can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is CIT Group's stock price today?
One share of CIT stock can currently be purchased for approximately $50.99.
How big of a company is CIT Group?
CIT Group has a market capitalization of $6.48 billion and generates $3.21 billion in revenue each year. The financial services provider earns $468.20 million in net income (profit) each year or $3.07 on an earnings per share basis. CIT Group employs 4,167 workers across the globe.
How can I contact CIT Group?
CIT Group's mailing address is 11 West 42nd Street, New York NY, 10036. The financial services provider can be reached via phone at 212-461-5200.
MarketBeat Community Rating for CIT Group (CIT)MarketBeat's community ratings are surveys of what our community members think about CIT Group and other stocks. Vote "Outperform" if you believe CIT will outperform the S&P 500 over the long term. Vote "Underperform" if you believe CIT will underperform the S&P 500 over the long term. You may vote once every thirty days.