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NYSE:CITCIT Group Stock Price, Forecast & News

$21.28
+0.69 (+3.35 %)
(As of 08/12/2020 04:00 PM ET)
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Today's Range
$21.12
Now: $21.28
$22.36
50-Day Range
$18.45
MA: $19.63
$22.49
52-Week Range
$12.02
Now: $21.28
$48.96
Volume1.78 million shs
Average Volume2.51 million shs
Market Capitalization$2.09 billion
P/E RatioN/A
Dividend Yield6.58%
Beta1.84
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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Beat the Market (BTM) Rank

Analyst Opinion: 3.2Community Rank: 2.2Dividend Strength: 3.3Insider Behavior: 1.0Valuation: 1.3 5 -4 -3 -2 -1 -

Overall Beat the Market Rank

2.19 out of 5 stars


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$9.81 per share
Book Value$61.38 per share

Profitability

Net Income$529.90 million

Miscellaneous

Employees3,609
Market Cap$2.09 billion
Next Earnings Date10/27/2020 (Estimated)
OptionableOptionable
$21.28
+0.69 (+3.35 %)
(As of 08/12/2020 04:00 PM ET)
30 days | 90 days | 365 days | Advanced Chart

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CIT Group (NYSE:CIT) Frequently Asked Questions

How has CIT Group's stock price 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 (WHO). Since then, CIT stock has decreased by 10.1% and is now trading at $21.28.
View which stocks have been most impacted by COVID-19
.

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 4 hold ratings and 2 buy ratings for the stock, resulting in a consensus recommendation of "Hold."
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, October 27th 2020.
View our earnings forecast for CIT Group
.

How were CIT Group's earnings last quarter?

CIT Group Inc. (NYSE:CIT) posted its quarterly earnings results on Tuesday, July, 21st. The financial services provider reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.50) by $0.12. The financial services provider earned $411 million during the quarter, compared to analysts' expectations of $427.61 million. CIT Group had a negative return on equity of 0.77% and a negative net margin of 14.45%. The business's revenue for the quarter was down 12.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.33 earnings per share.
View CIT Group's earnings history
.

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

CIT Group declared a quarterly dividend on Friday, July 17th. Investors of record on Friday, August 7th will be paid a dividend of $0.35 per share on Friday, August 21st. This represents a $1.40 annualized dividend and a yield of 6.58%. The ex-dividend date is Thursday, August 6th.
View CIT Group's dividend history
.

What price target have analysts set for CIT?

6 brokerages have issued 12-month target prices for CIT Group's stock. Their forecasts range from $24.00 to $54.00. On average, they anticipate CIT Group's share price to reach $34.83 in the next year. This suggests a possible upside of 63.7% from the stock's current price.
View analysts' price targets for CIT Group
.

Has CIT Group been receiving favorable news coverage?

Media coverage about CIT stock has been trending extremely negative recently, InfoTrie reports. InfoTrie scores the sentiment of media coverage by reviewing more than six thousand blog and news sources. The firm ranks coverage of companies on a scale of -5 to 5, with scores nearest to five being the most favorable. CIT Group earned a coverage optimism score of -4.1 on InfoTrie's scale. They also gave media stories about the financial services provider a news buzz of 10.0 out of 10, indicating that recent media coverage is extremely likely to have an impact on the company's share price in the near future.
View the latest news about CIT Group
.

Are investors shorting CIT Group?

CIT Group saw a increase in short interest in the month of May. As of May 15th, there was short interest totaling 7,470,000 shares, an increase of 39.4% from the April 30th total of 5,360,000 shares. Based on an average daily trading volume, of 2,720,000 shares, the days-to-cover ratio is currently 2.7 days.
View CIT Group's Short Interest
.

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 Delta Air Lines (DAL), Exxon Mobil (XOM), Bank of America (BAC), Boeing (BA), JPMorgan Chase & Co. (JPM), Citigroup (C), Carnival (CCL), Walt Disney (DIS), Kinder Morgan (KMI) and AT&T (T).

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 a variety of retail and institutional investors. Top institutional shareholders include LSV Asset Management (4.23%), Thompson Siegel & Walmsley LLC (2.65%), Prudential Financial Inc. (1.81%), Bank of New York Mellon Corp (1.47%), Victory Capital Management Inc. (1.38%) and Goldman Sachs Group Inc. (0.86%). 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 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 Robeco Institutional Asset Management B.V., LSV Asset Management, Ensign Peak Advisors Inc, State Board of Administration of Florida Retirement System, Russell Investments Group Ltd., Dalton Greiner Hartman Maher & Co., Strs Ohio, and New York State Common Retirement Fund.
View insider buying and selling activity for CIT Group
.

Which institutional investors are buying CIT Group stock?

CIT stock was bought by a variety of institutional investors in the last quarter, including Victory Capital Management Inc., Prudential Financial Inc., First Trust Advisors LP, Thompson Siegel & Walmsley LLC, Goldman Sachs Group Inc., Bank of Nova Scotia, Bank of New York Mellon Corp, and UBS Group AG. 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 $21.28.

How big of a company is CIT Group?

CIT Group has a market capitalization of $2.09 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.

What is CIT Group's official website?

The official website for CIT Group is 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]

This page was last updated on 8/13/2020 by MarketBeat.com Staff

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