CIT Group Inc (DEL) Company Profile (NYSE:CIT)

About CIT Group Inc (DEL) (NYSE:CIT)

CIT Group Inc (DEL) logoCIT 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
Capitalization:
  • Market Cap: $6.75922 billion
  • Outstanding Shares: 135,428,000
Average Prices:
  • 50 Day Moving Avg: $47.62
  • 200 Day Moving Avg: $46.89
  • 52 Week Range: $35.14 - $50.40
P/E:
  • Trailing P/E Ratio: N/A
  • Foreward P/E Ratio: 12.51
  • P/E Growth: 3.54
Sales & Book Value:
  • Annual Revenue: $2.15 billion
  • Price / Sales: 3.11
  • Book Value: $51.88 per share
  • Price / Book: 0.95
Dividend:
  • Annual Dividend: $0.60
  • Dividend Yield: 1.2%
Profitability:
  • Net Margins: -20.50%
  • Return on Equity: 5.66%
  • Return on Assets: 0.89%
Debt:
  • Debt-to-Equity Ratio: 1.23%
  • Current Ratio: 1.10%
  • Quick Ratio: 1.10%
Misc:
  • 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?

CIT Group Inc (DEL) is scheduled to release their next quarterly earnings announcement on Tuesday, October, 24th 2017. View Earnings Estimates for CIT Group Inc (DEL).

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?

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?

One share of CIT Group Inc (DEL) stock can currently be purchased for approximately $49.42.


MarketBeat Community Rating for CIT Group Inc (DEL) (NYSE CIT)
Community Ranking:  2.2 out of 5 (star star)
Outperform Votes:  312 (Vote Outperform)
Underperform Votes:  412 (Vote Underperform)
Total Votes:  724
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.

Analyst Ratings

Consensus Ratings for CIT Group Inc (DEL) (NYSE:CIT) (How are Consensus Ratings Calculated?)
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)
Price Target History for CIT Group Inc (DEL) (NYSE:CIT)
Analysts' Ratings History for CIT Group Inc (DEL) (NYSE:CIT)
Show:
DateFirmActionRatingPrice TargetImpact on Share PriceDetails
10/16/2017Citigroup Inc.Initiated CoverageBuy$60.00N/AView Rating Details
10/6/2017BMO Capital MarketsReiterated RatingSell$31.00N/AView Rating Details
10/3/2017Keefe, Bruyette & WoodsReiterated RatingHold$47.00LowView Rating Details
9/18/2017Morgan StanleyBoost Price TargetEqual Weight$50.00 -> $51.00LowView Rating Details
7/25/2017BTIG ResearchReiterated RatingBuy$57.00LowView Rating Details
7/17/2017StephensUpgradeEqual Weight -> OverweightMediumView Rating Details
7/13/2017JMP SecuritiesBoost Price TargetMarket Outperform$49.00 -> $54.00LowView Rating Details
7/11/2017CIBCReiterated RatingOutperformLowView Rating Details
7/11/2017Oppenheimer Holdings, Inc.Reiterated RatingOutperformLowView Rating Details
7/2/2017Credit Suisse GroupReiterated RatingHold$48.00MediumView Rating Details
4/26/2017Bank of America CorporationUpgradeNeutral -> BuyLowView Rating Details
2/1/2017Barclays PLCLower Price Target$41.00N/AView Rating Details
10/7/2016Stifel NicolausDowngradeBuy -> Hold$40.00 -> $41.00N/AView Rating Details
7/29/2016NomuraBoost Price TargetNeutral$33.00 -> $35.00N/AView Rating Details
6/15/2016Deutsche Bank AGReiterated RatingHoldN/AView Rating Details
4/4/2016MacquarieReiterated RatingBuyN/AView Rating Details
3/28/2016Sterne Agee CRTDowngradeBuy -> Neutral$37.00N/AView Rating Details
3/24/2016Drexel HamiltonReiterated RatingBuy$48.00N/AView Rating Details
2/3/2016Goldman Sachs Group, Inc. (The)Lower Price TargetNeutral$47.00 -> $42.00N/AView Rating Details
2/3/2016DA DavidsonLower Price TargetBuy$46.00N/AView Rating Details
(Data available from 10/24/2015 forward)

Earnings

Earnings History for CIT Group Inc (DEL) (NYSE:CIT)
Earnings by Quarter for CIT Group Inc (DEL) (NYSE:CIT)
Earnings History by Quarter for CIT Group Inc (DEL) (NYSE CIT)
DateQuarterConsensus EstimateActual EPSRevenue EstimateActual RevenueRelease LinkConference CallDetails
10/24/2017Q3 2017$0.82N/AView Earnings Details
7/25/2017Q2 2017$0.60$0.68$500.05 million$605.00 millionViewN/AView Earnings Details
4/25/2017Q1 2017$0.52$0.54$499.98 million$495.70 millionViewN/AView Earnings Details
1/31/2017Q416$0.78$0.59$620.30 million$309.90 millionViewN/AView Earnings Details
10/25/2016Q316$0.79$0.73$622.98 million$608.70 millionViewListenView Earnings Details
7/28/2016Q216$0.77$0.90$620.33 million$645.10 millionViewListenView Earnings Details
4/28/2016Q116$0.76$0.75$630.40 million$653.80 millionViewListenView Earnings Details
2/2/2016Q415$0.83$0.72$598.07 million$558.60 millionViewN/AView Earnings Details
11/3/2015Q315$0.75$0.26$462.27 million$735.90 millionViewN/AView Earnings Details
7/28/2015Q215$0.68$0.66$437.50 million$613.80 millionViewListenView Earnings Details
4/28/2015Q115$0.78$0.62$456.74 million$423.80 millionViewN/AView Earnings Details
1/27/2015Q414$0.94$1.13$453.20 million$306.20 millionViewN/AView Earnings Details
10/28/2014Q314$0.90$2.76$432.70 million$592.30 millionViewN/AView Earnings Details
7/22/2014Q214$0.86$1.02$420.38 million$660.90 millionViewN/AView Earnings Details
4/29/2014Q114$0.87$0.55$440.50 million$598.50 millionViewN/AView Earnings Details
1/27/2014Q413$0.83$0.65$57.48 million$337.00 millionViewN/AView Earnings Details
10/22/2013Q313$0.94$0.99$77.40 millionViewN/AView Earnings Details
7/23/2013Q2 2013$0.90$0.91$83.47 million$351.60 millionViewN/AView Earnings Details
4/23/2013Q1 2013$0.89$0.81$65.72 million$355.80 millionViewN/AView Earnings Details
1/29/2013Q4 2012$0.68$1.03$0.40 million$357.00 millionViewN/AView Earnings Details
10/23/2012($1.20)($1.52)ViewN/AView Earnings Details
7/30/2012($0.49)($0.35)ViewN/AView Earnings Details
4/24/2012($1.58)($2.22)ViewN/AView Earnings Details
1/31/2012($0.01)$0.17ViewN/AView Earnings Details
10/25/2011($0.23)($0.08)ViewN/AView Earnings Details
4/27/2011$0.19$0.33ViewN/AView Earnings Details
2/15/2011$0.40$0.37ViewN/AView Earnings Details
(Data available from 1/1/2011 forward)

Estimates

Earnings Estimates for CIT Group Inc (DEL) (NYSE:CIT)
2017 EPS Consensus Estimate: $2.56
2018 EPS Consensus Estimate: $3.86
QuarterNumber of EstimatesLow EstimateHigh EstimateAverage Estimate
Q1 20172$0.45$0.53$0.49
Q2 20172$0.46$0.54$0.50
Q3 20172$0.69$0.79$0.74
Q4 20172$0.81$0.84$0.83
Q1 20182$0.91$0.92$0.92
Q2 20182$0.93$0.98$0.96
Q3 20182$0.94$1.06$1.00
Q4 20182$0.93$1.04$0.99
(Data provided by Zacks Investment Research)

Dividends

Current Dividend Information for CIT Group Inc (DEL) (NYSE:CIT)
Next Dividend:11/24/2017
Annual Dividend:$0.60
Dividend Yield:1.21%
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 Payments by Quarter for CIT Group Inc (DEL) (NYSE:CIT)

Dividend History by Quarter for CIT Group Inc (DEL) (NYSE CIT)
AnnouncedPeriodAmountYieldEx-Dividend DateRecord DatePayable Date
10/16/2017quarterly$0.161.31%11/9/201711/10/201711/24/2017
7/17/2017quarterly$0.151.22%8/9/20178/11/20178/25/2017
6/6/2017Quarterly$0.186/14/20176/16/20176/30/2017
4/18/2017quarterly$0.151.4%5/10/20175/12/20175/26/2017
1/18/2017quarterly$0.151.43%2/8/20172/10/20172/24/2017
10/18/2016quarterly$0.151.65%11/8/201611/11/201611/25/2016
7/19/2016quarterly$0.151.72%8/10/20168/12/20168/26/2016
4/19/2016quarterly$0.151.76%5/11/20165/13/20165/27/2016
1/20/2016quarterly$0.151.94%2/10/20162/12/20162/26/2016
10/21/2015quarterly$0.151.3%11/10/201511/13/201511/30/2015
7/21/2015quarterly$0.151.24%8/12/20158/14/20158/28/2015
4/21/2015quarterly$0.151.25%5/13/20155/15/20155/29/2015
1/21/2015quarterly$0.151.33%2/11/20152/13/20152/27/2015
10/15/2014quarterly$0.151.34%11/7/201411/12/201411/26/2014
7/15/2014quarterly$0.151.36%8/13/20148/15/20148/29/2014
4/17/2014quarterly$0.100.86%5/13/20145/15/20145/30/2014
1/21/2014quarterly$0.100.8%2/12/20142/14/20142/28/2014
10/21/2013quarterly$0.100.82%11/13/201311/15/201311/29/2013
(Data available from 1/1/2013 forward)

Insider Trades

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)
Institutional Ownership by Quarter for CIT Group Inc (DEL) (NYSE:CIT)
Insider Trades by Quarter for CIT Group Inc (DEL) (NYSE:CIT)
Transaction DateInsider NameTitleBuy/SellNumber of SharesAverage Share PriceTotal TransactionDetails
8/25/2017Steve SolkInsiderSell1,460$45.00$65,700.00View SEC Filing  
8/11/2017James L HudakInsiderSell2,100$46.18$96,978.00View SEC Filing  
6/9/2017Michael L BrosnanDirectorBuy24$45.68$1,096.32View SEC Filing  
6/5/2017James L HudakInsiderSell2,250$44.50$100,125.00View SEC Filing  
5/30/2017Robert RoweEVPSell9,244$45.58$421,341.52View SEC Filing  
5/26/2017Edward K SperlingEVPSell4,480$45.76$205,004.80View SEC Filing  
2/27/2017R. Brad OatesDirectorSell7,030$42.78$300,743.40View SEC Filing  
2/6/2017Matthew GalliganInsiderSell5,097$42.14$214,787.58View SEC Filing  
2/11/2016Steven T. MnuchinVice ChairmanBuy80,000$25.64$2,051,200.00View SEC Filing  
2/9/2016Steven T. MnuchinVice ChairmanBuy149,800$26.68$3,996,664.00View SEC Filing  
2/4/2016Alan L FrankDirectorBuy2,000$27.72$55,440.00View SEC Filing  
2/4/2016John A ThainCEOBuy50,000$27.31$1,365,500.00View SEC Filing  
2/4/2016Steven T MnuchinVice ChairmanBuy114,623$27.77$3,183,080.71View SEC Filing  
5/15/2014John ThainCEOBuy40,000$41.54$1,661,600.00View SEC Filing  
10/26/2012Michael J EmblerDirectorBuy1,500$37.60$56,400.00View SEC Filing  
(Data available from 1/1/2013 forward)

Headlines

Headline Trends for CIT Group Inc (DEL) (NYSE:CIT)
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Chart

CIT Group Inc (DEL) (CIT) Chart for Tuesday, October, 24, 2017

This page was last updated on 10/24/2017 by MarketBeat.com Staff

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