CIT Group Company Profile (NYSE:CIT)

About CIT Group (NYSE:CIT)

CIT Group 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: Credit Services
  • Sub-Industry: Regional Banks
  • Symbol: NYSE:CIT
  • CUSIP: 12558180
  • Web:
  • Market Cap: $9.6 billion
  • Outstanding Shares: 202,736,000
Average Prices:
  • 50 Day Moving Avg: $45.11
  • 200 Day Moving Avg: $42.61
  • 52 Week Range: $28.33 - $47.45
  • Trailing P/E Ratio: N/A
  • Foreward P/E Ratio: 12.17
  • P/E Growth: -1.380
Sales & Book Value:
  • Annual Revenue: $2.19 billion
  • Price / Sales: 4.38
  • Book Value: $50.14 per share
  • Price / Book: 0.94
  • Annual Dividend: $0.60
  • Dividend Yield: 1.3%
  • Net Margins: -21.08%
  • Return on Equity: 5.39%
  • Return on Assets: 0.90%
  • Debt-to-Equity Ratio: 1.47%
  • Current Ratio: 1.14%
  • Quick Ratio: 1.14%
  • Average Volume: 2.62 million shs.
  • Beta: 1.52
  • Short Ratio: 3.92

Frequently Asked Questions for CIT Group (NYSE:CIT)

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 Tuesday, April 18th. Stockholders of record on Friday, May 12th will be paid a dividend of $0.15 per share on Friday, May 26th. This represents a $0.60 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Wednesday, May 10th. View CIT Group's Dividend History.

How were CIT Group's earnings last quarter?

CIT Group Inc. (NYSE:CIT) released its earnings results on Tuesday, April, 25th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.52 by $0.02. The business earned $495.70 million during the quarter, compared to analyst estimates of $499.98 million. CIT Group had a negative net margin of 21.08% and a positive return on equity of 5.39%. The business's quarterly revenue was down 5.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.73 earnings per share. View CIT Group's Earnings History.

When will CIT Group make its next earnings announcement?

CIT Group is scheduled to release their next quarterly earnings announcement on Wednesday, July, 26th 2017. View Earnings Estimates for CIT Group.

Where is CIT Group's stock going? Where will CIT Group's stock price be in 2017?

11 equities research analysts have issued 1-year price targets for CIT Group's stock. Their forecasts range from $30.00 to $45.00. On average, they anticipate CIT Group's share price to reach $40.13 in the next twelve months. View Analyst Ratings for CIT Group.

Who are some of CIT Group's key competitors?

Who owns CIT Group stock?

CIT Group's stock is owned by a variety of of retail and institutional investors. Top institutional shareholders include Vanguard Group Inc. (7.99%), FMR LLC (6.36%), BlackRock Inc. (4.88%), State Street Corp (3.91%), Lakewood Capital Management LP (2.06%) and Hotchkis & Wiley Capital Management LLC (1.98%). Company insiders that own CIT Group stock include Alan L Frank, John A Thain, Matthew Galligan, R Brad Oates and Steven T Mnuchin. View Institutional Ownership Trends for CIT Group.

Who sold CIT Group stock? Who is selling CIT Group stock?

CIT Group's stock was sold by a variety of institutional investors in the last quarter, including Wells Fargo & Company MN, Morgan Stanley, Wedge Capital Management L L P NC, Los Angeles Capital Management & Equity Research Inc., State Street Corp, Strs Ohio, Renaissance Technologies LLC and Zweig DiMenna Associates LLC. Company insiders that have sold CIT Group stock in the last year include Matthew Galligan and R Brad Oates. View Insider Buying and Selling for CIT Group.

Who bought CIT Group stock? Who is buying CIT Group stock?

CIT Group's stock was acquired by a variety of institutional investors in the last quarter, including BlackRock Inc., Lakewood Capital Management LP, Sachem Head Capital Management LP, Hotchkis & Wiley Capital Management LLC, RidgeWorth Capital Management LLC, FMR LLC, Vanguard Group Inc. and Janus Capital Management LLC. Company insiders that have bought CIT Group stock in the last two years include Alan L Frank, John A Thain and Steven T Mnuchin. View Insider Buying and Selling for CIT Group.

How do I buy CIT Group stock?

Shares of CIT Group can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.

How much does a share of CIT Group stock cost?

One share of CIT Group stock can currently be purchased for approximately $47.33.

Analyst Ratings

Consensus Ratings for CIT Group (NYSE:CIT) (?)
Ratings Breakdown: 1 Sell Rating, 7 Hold Ratings, 3 Buy Ratings
Consensus Rating:Hold (Score: 2.18)
Consensus Price Target: $40.13 (15.22% downside)

Analysts' Ratings History for CIT Group (NYSE:CIT)
DateFirmActionRatingPrice TargetImpact on Share PriceDetails
4/26/2017BMO Capital MarketsReiterated RatingSell$30.00LowView Rating Details
4/26/2017Bank of America CorpUpgradeNeutral -> BuyLowView Rating Details
3/27/2017Morgan StanleyInitiated CoverageEqual -> Equal Weight$45.00LowView Rating Details
2/5/2017BTIG ResearchReiterated RatingBuy$45.00N/AView Rating Details
2/5/2017Credit Suisse Group AGReiterated RatingHold$45.00N/AView Rating Details
2/1/2017Barclays PLCLower Price Target$41.00N/AView Rating Details
11/1/2016StephensInitiated CoverageEqual WeightN/AView Rating Details
10/10/2016JMP SecuritiesReiterated RatingBuyN/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
4/4/2016Oppenheimer Holdings Inc.Reiterated RatingBuy$50.00N/AView Rating Details
3/28/2016Keefe, Bruyette & WoodsReiterated RatingHoldN/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 IncLower Price TargetNeutral$47.00 -> $42.00N/AView Rating Details
2/3/2016DA DavidsonLower Price TargetBuy$46.00N/AView Rating Details
2/3/2016Citigroup IncDowngradeBuy -> NeutralN/AView Rating Details
7/29/2015GuggenheimDowngradeBuy -> NeutralN/AView Rating Details
(Data available from 5/23/2015 forward)


Earnings History for CIT Group (NYSE:CIT)
Earnings by Quarter for CIT Group (NYSE:CIT)
Earnings History by Quarter for CIT Group (NYSE:CIT)
DateQuarterConsensus EstimateActual EPSRevenue EstimateActual RevenueRelease LinkConference CallDetails
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)


Earnings Estimates for CIT Group (NYSE:CIT)
2017 EPS Consensus Estimate: $2.69
2018 EPS Consensus Estimate: $3.82
QuarterNumber of EstimatesLow EstimateHigh EstimateAverage Estimate
Q1 20172$0.45$0.53$0.49
Q2 20172$0.46$0.55$0.51
Q3 20172$0.69$0.94$0.82
Q4 20172$0.77$0.98$0.88
Q1 20181$0.94$0.94$0.94
Q2 20181$0.97$0.97$0.97
Q3 20181$0.98$0.98$0.98
Q4 20181$0.93$0.93$0.93
(Data provided by Zacks Investment Research)


Current Dividend Information for CIT Group (NYSE:CIT)
Next Dividend:5/26/2017
Annual Dividend:$0.60
Dividend Yield:1.27%
Dividend Growth:81.70% (3 Year Average)
Payout Ratio:-14.08% (Trailing 12 Months of Earnings)
21.82% (Based on This Year's Estimates)
15.42% (Based on Next Year's Estimates)
Dividend Payments by Quarter for CIT Group (NYSE:CIT)

Dividend History by Quarter for CIT Group (NYSE:CIT)
AnnouncedPeriodAmountYieldEx-Dividend DateRecord DatePayable Date
(Data available from 1/1/2013 forward)

Insider Trades

Insider Trading and Institutional Ownership History for CIT Group (NYSE:CIT)
Insider Ownership Percentage: 1.68%
Institutional Ownership Percentage: 98.54%
Insider Trades by Quarter for CIT Group (NYSE:CIT)
Institutional Ownership by Quarter for CIT Group (NYSE:CIT)
Insider Trades by Quarter for CIT Group (NYSE:CIT)
Transaction DateInsider NameTitleBuy/SellNumber of SharesAverage Share PriceTotal TransactionDetails
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)


Headline Trends for CIT Group (NYSE:CIT)
Latest Headlines for CIT Group (NYSE:CIT)
DateHeadline logoETFs with exposure to CIT Group, Inc. : May 22, 2017 - May 22 at 4:12 PM
News IconCORRECTED-Financial Freedom settles over reverse mortgage lending for $89 mln - May 17 at 11:37 AM logoBRIEF-CIT Group says agrees to settlement of about $89 mln - May 16 at 9:24 PM logoFinancial Freedom settles over reverse mortgage lending for $89 mln - May 16 at 9:24 PM logoMnuchin's former bank in $89 mln settlement over reverse mortgages - May 16 at 9:24 PM logoStock Traders Buy Large Volume of CIT Group Put Options (CIT) - May 14 at 9:14 AM logoCIT Group Sees Unusually High Options Volume (CIT) - May 14 at 9:14 AM logoForm 4 CIT GROUP INC For: May 09 Filed by: PARRS MARIANNE M - May 12 at 2:58 AM logoForm 4 CIT GROUP INC For: May 09 Filed by: FREEMAN WILLIAM M - May 11 at 4:56 PM logoETFs with exposure to CIT Group, Inc. : May 11, 2017 - May 11 at 4:56 PM logoCIT Group, Inc. :CIT-US: Earnings Analysis: Q1, 2017 By the Numbers : May 10, 2017 - May 10 at 4:30 PM logoCIT Group, Inc. :CIT-US: Earnings Analysis: Q1, 2017 By the Numbers : May 10, 2017 - May 10 at 4:30 PM logoCIT Provides $46 Million In Financing To Menin Development - May 9 at 4:17 PM logoEx-Dividend Reminder: CIT Group, Invesco and Comfort Systems USA - May 8 at 4:12 PM logo$503.15 Million in Sales Expected for CIT Group Inc. (CIT) This Quarter - May 7 at 7:52 AM logoCIT Group Inc. (CIT) Expected to Announce Earnings of $0.60 Per Share - May 5 at 8:22 PM logoCIT Direct Capital Hits Milestones: $4 Billion In Origination Financing To More Than 100000 Small Business Customers ... - PR Newswire (press release) - May 5 at 2:29 AM logoCIT Direct Capital Hits Milestones: $4 Billion In Origination Financing To More Than 100,000 Small Business Customers; Portfolio Exceeds $1 Billion - May 4 at 4:27 PM logoCIT Group Inc. (CIT) Given Consensus Recommendation of "Hold" by Brokerages - May 2 at 2:48 PM logoCIT Group (CIT) Earns Media Impact Score of 0.33 - May 2 at 11:42 AM logoInvestors Purchase Large Volume of Call Options on CIT Group (CIT) - April 30 at 7:18 AM logoInvestors Buy Large Volume of Put Options on CIT Group (CIT) - April 30 at 7:18 AM logoCIT Group (CIT) Earning Favorable Media Coverage, Report Finds - April 29 at 1:17 PM logoCIT Announces Cash Tender Offer for Up To $2,750,000,000 of its ... - PR Newswire (press release) - April 29 at 7:35 AM logoDA Davidson Research Analysts Lower Earnings Estimates for CIT Group Inc. (CIT) - April 28 at 10:43 AM logoOppenheimer Holdings Weighs in on CIT Group Inc.'s Q2 2017 Earnings (CIT) - April 28 at 10:42 AM logoTraders open large position in CIT Group - April 27 at 4:46 PM logoTraders open large position in CIT Group - April 27 at 4:46 PM logoAnalysts Issue Forecasts for CIT Group Inc.'s FY2017 Earnings (CIT) - April 27 at 1:38 PM logoZacks Investment Research Upgrades CIT Group Inc. (CIT) to "Hold" - April 27 at 10:18 AM logoBRIEF-CIT announces cash tender offer for up to $2.75 mln of its common stock - April 27 at 9:44 AM logoCIT Announces Cash Tender Offer for Up To $2,750,000,000 of its Common Stock - April 27 at 9:44 AM logoCIT Group (CIT) Given Coverage Optimism Rating of 0.35 - April 26 at 6:56 PM logoCIT Group (CIT) Q1 2017 Results - Earnings Call Transcript - April 26 at 4:49 PM logoEdited Transcript of CIT earnings conference call or presentation 25-Apr-17 12:00pm GMT - April 26 at 4:49 PM logoCIT Receives #1 Ranking In Konica Minolta Business Solutions Survey - April 26 at 4:49 PM logoCIT Group (CIT) Stock Gains as Q1 Earnings Beat Estimates - April 26 at 4:49 PM logoCIT Group Inc. (CIT) Rating Reiterated by BMO Capital Markets - April 26 at 8:08 AM logoBRIEF-CIT Q1 earnings per share $0.80 excluding items - April 25 at 4:09 PM logoCIT Group Inc. 2017 Q1 - Results - Earnings Call Slides - April 25 at 4:09 PM logoCIT Announces First Quarter 2017 Results - April 25 at 4:09 PM logoCIT Group Inc. (CIT) Posts Earnings Results, Misses Estimates By $0.09 EPS - April 25 at 12:18 PM logoCIT Group Q1 Profit Rises - Quick Facts - Nasdaq - April 25 at 12:13 PM logoCIT Announces First Quarter 2017 Results - PR Newswire (press release) - April 25 at 12:13 PM logoCIT beats 1Q profit forecasts - April 25 at 7:28 AM logoVery Favorable Press Coverage Extremely Likely to Impact CIT Group (CIT) Share Price - April 23 at 8:06 AM logoCIT Group Inc. (CIT) to Release Quarterly Earnings on Tuesday - April 23 at 7:15 AM logoCIT Group (CIT) Receives Daily News Impact Score of 0.56 - April 20 at 11:53 AM logoCIT Group Inc. (CIT) Cut to "Sell" at Zacks Investment Research - April 18 at 3:58 PM logoCIT Announces Early Results of its Previously Announced Cash Tender Offer of Unsecured Notes - April 18 at 12:24 PM


CIT Group (CIT) Chart for Tuesday, May, 23, 2017

This page was last updated on 5/23/2017 by Staff