NYSE:CIT - CIT Group Stock Price, News, & Analysis

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$54.97 +0.60 (+1.10 %)
(As of 08/21/2018 11:37 AM ET)
Previous Close$54.46
Today's Range$54.45 - $55.09
52-Week Range$43.25 - $56.14
Volume19,549 shs
Average Volume731,580 shs
Market Capitalization$6.11 billion
P/E Ratio17.80
Dividend Yield1.85%
Beta1.27
CIT Group logoCIT 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.

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Industry, Sector and Symbol

Stock Exchange NYSE
Industry National commercial banks
Sub-IndustryRegional Banks
SectorFinance
SymbolNYSE:CIT
CUSIP12558180
Phone212-461-5200

Debt

Debt-to-Equity Ratio1.43
Current Ratio1.04
Quick Ratio1.04

Price-To-Earnings

Trailing P/E Ratio17.80
Forward P/E Ratio13.51
P/E Growth1.33

Sales & Book Value

Annual Sales$3.21 billion
Price / Sales1.94
Cash Flow$9.0115 per share
Price / Cash6.10
Book Value$53.29 per share
Price / Book1.03

Profitability

EPS (Most Recent Fiscal Year)$3.07
Net Income$468.20 million
Net Margins10.81%
Return on Equity7.38%
Return on Assets1.00%

Miscellaneous

Employees4,167
Outstanding Shares113,130,000
Market Cap$6.11 billion

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 announced a quarterly dividend on Tuesday, July 17th. Investors of record on Friday, August 10th will be paid a dividend of $0.25 per share on Friday, August 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend is Thursday, August 9th. This is an increase from CIT Group's previous quarterly dividend of $0.16. View CIT Group's Dividend History.

How will CIT Group's stock buyback program work?

CIT Group declared that its board has approved a share buyback program on Thursday, June 29th 2017, which authorizes the company to buyback $225,000,000.00 in shares, according to EventVestor. This buyback authorization authorizes the company to repurchase up to 2.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

How were CIT Group's earnings last quarter?

CIT Group Inc. (NYSE:CIT) released its quarterly earnings results on Tuesday, July, 24th. The financial services provider reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.03. The financial services provider earned $524 million during the quarter, compared to analyst estimates of $473.70 million. CIT Group had a net margin of 10.81% and a return on equity of 7.38%. The firm's revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.68 EPS. View CIT Group's Earnings History.

When is CIT Group's next earnings date?

CIT Group is scheduled to release their next quarterly earnings announcement on Tuesday, October, 23rd 2018. View Earnings Estimates for CIT Group.

What price target have analysts set for CIT?

12 brokerages have issued 1 year price objectives for CIT Group's shares. Their predictions range from $44.00 to $60.00. On average, they expect CIT Group's share price to reach $54.5127 in the next twelve months. This suggests that the stock has a possible downside of 0.8%. View Analyst Price Targets for CIT Group.

What is the consensus analysts' recommendation for CIT Group?

12 Wall Street analysts have issued "buy," "hold," and "sell" ratings for CIT Group in the last year. There are currently 7 hold ratings and 5 buy ratings for the stock, resulting in a consensus recommendation of "Hold." View Analyst Ratings for CIT Group.

Who are some of CIT Group's key competitors?

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?

Press coverage about CIT stock has trended somewhat positive on Tuesday, according to Accern Sentiment Analysis. The research group identifies negative and positive media coverage by reviewing more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. CIT Group earned a daily sentiment score of 0.18 on Accern's scale. They also gave media stories about the financial services provider an impact score of 46.38 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock's share price in the next few days. View Recent Headlines for CIT Group.

Who are CIT Group's major shareholders?

CIT Group's stock is owned by many different of retail and institutional investors. Top institutional shareholders include BlackRock Inc. (6.32%), LSV Asset Management (2.96%), FMR LLC (2.81%), Dimensional Fund Advisors LP (2.29%), Thompson Siegel & Walmsley LLC (2.16%) and Wells Fargo & Company MN (1.61%). 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 FMR LLC, Wedge Capital Management L L P NC, Quantum Capital Management, Teacher Retirement System of Texas, Bank of America Corp DE, DnB Asset Management AS, Mackay Shields LLC and Philadelphia Trust Co.. Company insiders that have sold CIT Group company stock in the last year include Denise M Menelly, Edward K Sperling, 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 acquired by a variety of institutional investors in the last quarter, including Millennium Management LLC, Dimensional Fund Advisors LP, EJF Capital LLC, Putnam Investments LLC, OppenheimerFunds Inc., BlackRock Inc., Dalton Greiner Hartman Maher & Co. and Caisse DE Depot ET Placement DU Quebec. 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 $54.95.

How big of a company is CIT Group?

CIT Group has a market capitalization of $6.11 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 (NYSE CIT)

Community Ranking:  2.1 out of 5 (star star)
Outperform Votes:  386 (Vote Outperform)
Underperform Votes:  516 (Vote Underperform)
Total Votes:  902
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.
This page was last updated on 8/21/2018 by MarketBeat.com Staff

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