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

$17.78
-1.47 (-7.64 %)
(As of 03/30/2020 07:13 AM ET)
Today's Range
$16.50
Now: $17.78
$18.37
50-Day Range
$13.43
MA: $34.65
$47.94
52-Week Range
$12.02
Now: $17.78
$54.02
Volume4.02 million shs
Average Volume3.00 million shs
Market Capitalization$1.74 billion
P/E Ratio3.37
Dividend Yield7.87%
Beta1.57
CIT Group Inc. operates as the holding company for CIT Bank, N.A. that provides banking and related services to commercial and individual customers. The company operates through Commercial Banking and Consumer Banking segments. 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; equipment leasing and secured financing to railroads and non-rail companies; equipment financing to small businesses. The Consumer Banking segment provides deposits, including checking and savings accounts, money market, and individual retirement accounts; time deposits and certificates of deposit; and offers residential mortgage and small business administration loans, as well as fiduciary services. The company also offers leasing and advisory, and online banking services. It operates through a network of 60 branches located in southern California. CIT Group Inc. was founded in 1908 and is based in New York, New York.
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CIT Group logo

Industry, Sector and Symbol

Industry National commercial banks
Sub-IndustryRegional Banks
SectorFinance
CUSIP12558180
Phone212-461-5200

Debt

Price-To-Earnings

Sales & Book Value

Annual Sales$3.29 billion
Cash Flow$9.12 per share
Book Value$61.38 per share

Profitability

Net Income$529.90 million

Miscellaneous

Employees3,609
Market Cap$1.74 billion
Next Earnings Date4/28/2020 (Estimated)
OptionableOptionable

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CIT Group (NYSE:CIT) Frequently Asked Questions

How has CIT Group's stock been impacted by COVID-19 (Coronavirus)?

CIT Group's stock was trading at $23.68 on March 11th, 2020 when COVID-19 (Coronavirus) reached pandemic status according to the World Health Organization. Since then, CIT stock has decreased by 24.9% and is now trading at $17.78. View which stocks have been mosted impacted by Coronavirus.

Do Wall Street analysts recommend investors buy shares of CIT Group?

6 Wall Street analysts have issued "buy," "hold," and "sell" ratings for CIT Group in the last year. There are currently 3 hold ratings and 3 buy ratings for the stock, resulting in a consensus recommendation of "Buy." View analyst ratings for CIT Group.

When is CIT Group's next earnings date?

CIT Group is scheduled to release its next quarterly earnings announcement on Tuesday, April 28th 2020. View our earnings forecast for CIT Group.

How were CIT Group's earnings last quarter?

CIT Group Inc. (NYSE:CIT) posted its earnings results on Tuesday, January, 28th. The financial services provider reported $1.27 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $1.11 by $0.16. The financial services provider earned $461 million during the quarter, compared to analyst estimates of $449.80 million. CIT Group had a net margin of 16.11% and a return on equity of 8.97%. The business's quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.10 EPS. View CIT Group's earnings history.

How often does CIT Group pay dividends? What is the dividend yield for CIT Group?

CIT Group announced a quarterly dividend on Wednesday, January 22nd. Shareholders of record on Friday, February 7th will be paid a dividend of $0.35 per share on Friday, February 21st. This represents a $1.40 dividend on an annualized basis and a yield of 7.87%. The ex-dividend date is Thursday, February 6th. View CIT Group's dividend history.

What price target have analysts set for CIT?

6 Wall Street analysts have issued twelve-month price objectives for CIT Group's shares. Their forecasts range from $27.00 to $76.00. On average, they anticipate CIT Group's share price to reach $49.83 in the next twelve months. This suggests a possible upside of 180.3% from the stock's current price. View analysts' price targets for CIT Group.

Has CIT Group been receiving favorable news coverage?

Headlines about CIT stock have been trending somewhat negative on Monday, according to InfoTrie. InfoTrie rates the sentiment of news coverage by reviewing more than six thousand news and blog sources. The firm ranks coverage of companies on a scale of negative five to positive five, with scores closest to five being the most favorable. CIT Group earned a media sentiment score of -1.0 on InfoTrie's scale. They also gave news headlines about the financial services provider a news buzz of 0.0 out of 10, meaning that recent news coverage is extremely unlikely to have an effect on the company's share price in the near future. View the latest news aboutCIT Group.

Who are some of CIT Group's key competitors?

What other stocks do shareholders of CIT Group own?

Based on aggregate information from My MarketBeat watchlists, some companies that other CIT Group investors own include Exxon Mobil (XOM), JPMorgan Chase & Co. (JPM), American Express (AXP), Walt Disney (DIS), Bank of America (BAC), IBM (IBM), Kinder Morgan (KMI), Mcdonald's (MCD), AT&T (T) and Walmart (WMT).

Who are CIT Group's key executives?

CIT Group's management team includes the following people:
  • Ms. Ellen R. Alemany, Chairwoman & CEO (Age 63)
  • Mr. John J. Fawcett, Exec. VP & CFO (Age 60)
  • Ms. Denise M. Menelly, Exec. VP & Head of Technology and Operations (Age 57)
  • Mr. James L. Hudak, Pres of Commercial Fin. (Age 55)
  • Mr. Steven Solk, Pres of Consumer Banking (Age 64)

What is CIT Group's stock symbol?

CIT Group trades on the New York Stock Exchange (NYSE) under the ticker symbol "CIT."

Who are CIT Group's major shareholders?

CIT Group's stock is owned by many different retail and institutional investors. Top institutional shareholders include Capital World Investors (7.95%), Franklin Resources Inc. (6.54%), Franklin Resources Inc. (6.32%), LSV Asset Management (4.78%), Lakewood Capital Management LP (3.39%) and State Street Corp (3.04%). Company insiders that own CIT Group stock include Alan L Frank, David Harnisch, Edward K Sperling, Ellen R Alemany, John J Fawcett, Matthew Galligan, Michael L Brosnan, Robert C Rubino, Sheila A Stamps and Steve Solk. View institutional ownership trends for CIT Group.

Which institutional investors are selling CIT Group stock?

CIT stock was sold by a variety of institutional investors in the last quarter, including State Street Corp, Nuveen Asset Management LLC, Sumitomo Mitsui Trust Holdings Inc., FMR LLC, Prudential Financial Inc., Marshall Wace North America L.P., AQR Capital Management LLC, and Los Angeles Capital Management & Equity Research Inc.. View insider buying and selling activity for CIT Group.

Which institutional investors are buying CIT Group stock?

CIT stock was acquired by a variety of institutional investors in the last quarter, including Capital World Investors, Norges Bank, Artemis Investment Management LLP, Bank of America Corp DE, Lakewood Capital Management LP, Victory Capital Management Inc., MERIAN GLOBAL INVESTORS UK Ltd, and MERIAN GLOBAL INVESTORS UK Ltd. Company insiders that have bought CIT Group stock in the last two years include Alan L Frank, David Harnisch, Ellen R Alemany, John J Fawcett, Michael L Brosnan, Robert C Rubino, and Steve Solk. View insider buying and selling activity 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, Robinhood, Fidelity, and Charles Schwab.

What is CIT Group's stock price today?

One share of CIT stock can currently be purchased for approximately $17.78.

How big of a company is CIT Group?

CIT Group has a market capitalization of $1.74 billion and generates $3.29 billion in revenue each year. The financial services provider earns $529.90 million in net income (profit) each year or $5.06 on an earnings per share basis. CIT Group employs 3,609 workers across the globe. View additional information about CIT Group.

What is CIT Group's official website?

The official website for CIT Group is http://www.cit.com/.

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 or via email at [email protected]


MarketBeat Community Rating for CIT Group (NYSE CIT)

Community Ranking:  2.2 out of 5 (star star)
Outperform Votes:  492 (Thanks for Voting!)
Underperform Votes:  642 (Thanks for Voting!)
Total Votes:  1,134
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 3/30/2020 by MarketBeat.com Staff

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