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NYSE:CIT

CIT Group Stock Forecast, Price & News

$34.70
+0.10 (+0.29 %)
(As of 11/23/2020 12:00 AM ET)
Add
Compare
Today's Range
$34.63
Now: $34.70
$35.70
50-Day Range
$19.10
MA: $28.51
$35.40
52-Week Range
$12.02
Now: $34.70
$48.96
Volume1.02 million shs
Average Volume2.42 million shs
Market Capitalization$3.42 billion
P/E RatioN/A
Dividend Yield4.05%
Beta1.63
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 provides a range of commercial lending, leasing, and deposit products; loans comprising revolving lines of credit, term loans, unsecured loans, collateral-backed loans, asset-based loans, commercial real estate loans, and cash flow loans; and ancillary services and products, including cash management, capital markets, and advisory services primarily to small and middle market companies. This segment also offers asset management, factoring, receivable management, and secured financing services; supply chain financing, leasing and equipment financing to small businesses and middle market, and railroads and shippers. The Consumer Banking segment provides checking, savings, money market, and individual retirement accounts; time deposits and certificates of deposit; residential mortgage loans; small business administration loans; payment solutions; and fiduciary services. The company also offers leasing and advisory, and online banking services. It operates through a network of approximately 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

Beat the Market (BTM) Rank

Analyst Opinion: 2.1Community Rank: 2.2Dividend Strength: 3.3Insider Behavior: 1.7Valuation: 1.3 5 -4 -3 -2 -1 -

Overall Beat the Market Rank

2.10 out of 5 stars


Industry, Sector and Symbol

Industry National commercial banks
Sub-IndustryRegional Banks
SectorFinance
CUSIP12558180
Phone212-461-5200
Employees3,609

Debt

Price-To-Earnings

Sales & Book Value

Annual Sales$3.29 billion
Cash Flow$9.13 per share
Book Value$53.17 per share

Profitability

Net Income$529.90 million

Miscellaneous

Market Cap$3.42 billion
Next Earnings Date1/26/2021 (Estimated)
OptionableOptionable
$34.70
+0.10 (+0.29 %)
(As of 11/23/2020 12:00 AM 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 Coronavirus (COVID-19)?

CIT Group's stock was trading at $23.68 on March 11th, 2020 when Coronavirus (COVID-19) reached pandemic status according to the World Health Organization. Since then, CIT shares have increased by 46.5% and is now trading at $34.70.
View which stocks have been most impacted by COVID-19
.

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

9 Wall Street analysts have issued "buy," "hold," and "sell" ratings for CIT Group in the last year. There are currently 8 hold ratings and 1 buy rating for the stock, resulting in a consensus recommendation of "Hold."
View analyst ratings for CIT Group
.

What stocks does MarketBeat like better than CIT Group?

Wall Street analysts have given CIT Group a "Hold" rating, but there may be better short-term opportunities in the market. Some of MarketBeat's winning trading ideas this year have resulted in 5-15% weekly gains. MarketBeat just released five new trading ideas, but CIT Group wasn't one of them. MarketBeat thinks these five stocks may be even better buys.
View MarketBeat's top stock picks here.

When is CIT Group's next earnings date?

CIT Group is scheduled to release its next quarterly earnings announcement on Tuesday, January 26th 2021.
View our earnings forecast for CIT Group
.

How were CIT Group's earnings last quarter?

CIT Group Inc. (NYSE:CIT) issued its quarterly earnings data on Friday, October, 16th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.70. The financial services provider earned $474 million during the quarter, compared to the consensus estimate of $448.08 million. CIT Group had a negative net margin of 16.59% and a negative return on equity of 1.46%. The business's revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.29 EPS.
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 Thursday, October 15th. Stockholders of record on Friday, November 6th will be paid a dividend of $0.35 per share on Friday, November 20th. This represents a $1.40 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend is Thursday, November 5th.
View CIT Group's dividend history
.

What price target have analysts set for CIT?

9 equities research analysts have issued 12-month price objectives for CIT Group's shares. Their forecasts range from $24.00 to $54.00. On average, they expect CIT Group's share price to reach $35.83 in the next year. This suggests a possible upside of 3.3% from the stock's current price.
View analysts' price targets for CIT Group
.

Are investors shorting CIT Group?

CIT Group saw a decline in short interest during the month of October. As of October 30th, there was short interest totaling 4,600,000 shares, a decline of 15.1% from the October 15th total of 5,420,000 shares. Based on an average trading volume of 2,310,000 shares, the short-interest ratio is presently 2.0 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 Bank of America (BAC), Delta Air Lines (DAL), Citigroup (C), JPMorgan Chase & Co. (JPM), AT&T (T), Exxon Mobil (XOM), Kinder Morgan (KMI), Occidental Petroleum (OXY), The Boeing (BA) and Carnival Co. & (CCL).

Who are CIT Group's key executives?

CIT Group's management team includes the following people:
  • Ms. Ellen R. Alemany, Chairwoman & CEO (Age 64, Pay $3.34M)
  • Mr. John J. Fawcett, Exec. VP & CFO (Age 61, Pay $2.16M)
  • Mr. Philip Curtice Robbins, Pres of Asset Management & Capital Markets
  • Mr. David M. Harnisch, Pres of Commercial Fin. & Real Estate
  • Ms. Denise M. Menelly, Exec. VP and Head of Technology & Operations (Age 58)

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 number of institutional and retail investors. Top institutional shareholders include BlackRock Inc. (12.42%), State Street Corp (5.93%), LSV Asset Management (3.86%), Fuller & Thaler Asset Management Inc. (3.39%), Victory Capital Management Inc. (1.69%) and Arrowstreet Capital Limited Partnership (0.98%). 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 major investors are selling CIT Group stock?

CIT stock was sold by a variety of institutional investors in the last quarter, including First Trust Advisors LP, Arrowstreet Capital Limited Partnership, LSV Asset Management, Charles Schwab Investment Management Inc., BlackRock Inc., Fuller & Thaler Asset Management Inc., Hahn Capital Management LLC, and JPMorgan Chase & Co..
View insider buying and selling activity for CIT Group
.

Which major investors are buying CIT Group stock?

CIT stock was purchased by a variety of institutional investors in the last quarter, including Great West Life Assurance Co. Can, State Street Corp, Azora Capital LP, Victory Capital Management Inc., Squarepoint Ops LLC, Morgan Stanley, Point72 Asset Management L.P., and Schonfeld Strategic Advisors LLC. 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 $34.70.

How big of a company is CIT Group?

CIT Group has a market capitalization of $3.42 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 11/23/2020 by MarketBeat.com Staff

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