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: Financials
  • Industry: Banks
  • Sub-Industry: Regional Banks
  • Symbol: NYSE:CIT
  • CUSIP: 12558180
  • Web:
  • Market Cap: $6.36 billion
  • Outstanding Shares: 135,428,000
Average Prices:
  • 50 Day Moving Avg: $45.72
  • 200 Day Moving Avg: $45.74
  • 52 Week Range: $34.89 - $50.40
  • Trailing P/E Ratio: N/A
  • Foreward P/E Ratio: 12.42
  • P/E Growth: 3.35
Sales & Book Value:
  • Annual Revenue: $2.15 billion
  • Price / Sales: 2.96
  • Book Value: $51.88 per share
  • Price / Book: 0.90
  • Annual Dividend: $0.60
  • Dividend Yield: 1.3%
  • Net Margins: 6.81%
  • Return on Equity: 1.92%
  • Return on Assets: 0.29%
  • Debt-to-Equity Ratio: 1.23%
  • Current Ratio: 1.10%
  • Quick Ratio: 1.10%
  • Average Volume: 1.48 million shs.
  • Beta: 1.49
  • Short Ratio: 6.99

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 announced a quarterly dividend on Monday, July 17th. Shareholders of record on Friday, August 11th will be paid a dividend of $0.15 per share on Friday, August 25th. This represents a $0.60 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Wednesday, August 9th. View CIT Group's Dividend History.

How will CIT Group's stock buyback program work?

CIT Group declared that its board has authorized a stock buyback plan on Thursday, June 29th 2017, which authorizes the company to buyback $225,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization authorizes the company to reacquire up to 2.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board of directors believes its stock is undervalued.

How were CIT Group's earnings last quarter?

CIT Group Inc. (NYSE:CIT) announced its quarterly earnings results on Tuesday, July, 25th. The company reported $0.68 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.08. The business had revenue of $605 million for the quarter, compared to the consensus estimate of $500.05 million. CIT Group had a return on equity of 1.92% and a net margin of 6.81%. The company's revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.07 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 Tuesday, October, 24th 2017. View Earnings Estimates for CIT Group.

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

12 equities research analysts have issued 1-year target prices for CIT Group's shares. Their forecasts range from $39.00 to $57.00. On average, they anticipate CIT Group's share price to reach $47.29 in the next year. View Analyst Ratings for CIT Group.

Are investors shorting CIT Group?

CIT Group saw a drop in short interest during the month of August. As of August 31st, there was short interest totalling 10,731,082 shares, a drop of 20.3% from the August 15th total of 13,471,777 shares. Based on an average trading volume of 1,435,191 shares, the days-to-cover ratio is currently 7.5 days. Currently, 8.0% of the company's shares are sold short.

Who are some of CIT Group's key competitors?

Who are CIT Group's key executives?

CIT Group'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 stock?

CIT Group's stock is owned by a number of of retail and institutional investors. Top institutional investors include Capital Research Global Investors (11.20%), Vanguard Group Inc. (8.82%), Franklin Resources Inc. (8.02%), Capital World Investors (7.43%), FMR LLC (6.71%) and BlackRock Inc. (6.29%). Company insiders that own CIT Group 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.

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 Vanguard Group Inc., FMR LLC, Franklin Resources Inc., BlackRock Inc., State Street Corp, Wells Fargo & Company MN, Los Angeles Capital Management & Equity Research Inc. and Hotchkis & Wiley Capital Management LLC. Company insiders that have sold CIT Group 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.

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

CIT Group's stock was bought by a variety of institutional investors in the last quarter, including Janus Henderson Group PLC, Redwood Capital Management LLC, New Mountain Vantage Advisers L.L.C., Kirr Marbach & Co. LLC IN, Nomura Holdings Inc., Cobalt Capital Management Inc., Zurcher Kantonalbank Zurich Cantonalbank and Teachers Advisors LLC. Company insiders that have bought CIT Group 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.

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.

What is CIT Group's stock price today?

One share of CIT Group stock can currently be purchased for approximately $46.95.

MarketBeat Community Rating for CIT Group (NYSE CIT)
Community Ranking:  2.1 out of 5 (star star)
Outperform Votes:  297 (Vote Outperform)
Underperform Votes:  396 (Vote Underperform)
Total Votes:  693
MarketBeat's community ratings are surveys of what our community members think about CIT Group 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 (NYSE:CIT) (How are Consensus Ratings Calculated?)
Ratings Breakdown: 1 Sell Rating, 5 Hold Ratings, 6 Buy Ratings
Consensus Rating:Hold (Score: 2.42)
Consensus Price Target: $47.29 (0.72% upside)

Analysts' Ratings History for CIT Group (NYSE:CIT)
DateFirmActionRatingPrice TargetImpact on Share PriceDetails
9/18/2017Morgan StanleyBoost Price TargetEqual Weight$50.00 -> $51.00LowView Rating Details
7/26/2017BMO Capital MarketsBoost Price TargetUnderperform$31.00 -> $48.60LowView 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
5/27/2017Keefe, Bruyette & WoodsSet Price TargetHold$46.00N/AView 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
2/3/2016Citigroup Inc.DowngradeBuy -> NeutralN/AView Rating Details
(Data available from 9/24/2015 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
10/23/2017$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)


Earnings Estimates for CIT Group (NYSE:CIT)
2017 EPS Consensus Estimate: $2.56
2018 EPS Consensus Estimate: $3.87
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$1.04$0.99
Q4 20182$0.93$1.09$1.01
(Data provided by Zacks Investment Research)


Current Dividend Information for CIT Group (NYSE:CIT)
Most Recent Dividend:8/25/2017
Annual Dividend:$0.60
Dividend Yield:1.28%
Dividend Growth:81.70% (3 Year Average)
Payout Ratio:-18.02% (Trailing 12 Months of Earnings)
21.28% (Based on This Year's Estimates)
15.87% (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: 0.47%
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
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)


Headline Trends for CIT Group (NYSE:CIT)
Latest Headlines for CIT Group (NYSE:CIT)
DateHeadline logoCIT Group, Inc. breached its 50 day moving average in a Bullish Manner : CIT-US : September 21, 2017 - September 21 at 10:35 AM logoCIT Group Inc (DEL) (CIT) Short Interest Update - September 19 at 1:44 AM logoMorgan Stanley Increases CIT Group Inc (DEL) (CIT) Price Target to $51.00 - September 18 at 10:16 PM logoCIT Announces Cash Tender Offer For $800 million of Unsecured Notes - September 15 at 5:39 PM logoETFs with exposure to CIT Group, Inc. : September 13, 2017 - September 13 at 6:25 PM logoCIT Group, Inc. :CIT-US: Earnings Analysis: Q2, 2017 By the Numbers : September 11, 2017 - September 11 at 5:52 PM logoCIT Group, Inc. :CIT-US: Earnings Analysis: Q2, 2017 By the Numbers : September 11, 2017 - September 11 at 5:52 PM logoCIT Group Inc (DEL) (CIT) Receives Average Rating of "Hold" from Analysts - September 6 at 2:56 PM logoCIT Names Kenneth McPhail EVP and Chief Strategy Officer - September 5 at 6:44 PM logoPenny Fine to Lead Business Development for CIT Northbridge Credit - PR Newswire (press release) - August 30 at 10:02 PM logoCIT Group (CIT) Down 9.5% Since Earnings Report: Can It Rebound? - Nasdaq - August 30 at 10:02 PM logoHNA’s Financing Costs Soar After $45 Billion Shopping Spree - August 30 at 4:57 PM logoHNA’s Financing Costs Soar After Shopping Spree - August 30 at 4:57 PM logoCIT Makes Notable Cross Below Critical Moving Average - August 30 at 4:57 PM logoSteve Solk Sells 1,460 Shares of CIT Group Inc (DEL) (CIT) Stock - August 29 at 7:56 PM logo$0.79 Earnings Per Share Expected for CIT Group Inc (DEL) (CIT) This Quarter - August 28 at 6:16 PM logoCIT Group (CIT) Down 9.5% Since Earnings Report: Can It Rebound? - August 28 at 5:08 PM logoCIT Bank Invests $2.5 Million in Clearinghouse CDFI - August 22 at 5:46 PM logoCIT Provides $60 Million In Financing To Edward J. Minskoff Equities, Inc. - August 15 at 5:55 PM logoSee what the IHS Markit Score report has to say about CIT Group Inc. - August 15 at 3:36 AM logoCIT Group Inc (DEL) (NYSE:CIT) Insider Sells $96,978.00 in Stock - August 14 at 11:30 PM logoCIT Group Inc (DEL) Sees Unusually Large Options Volume (NYSE:CIT) - August 14 at 9:06 AM logoCIT Group Inc (DEL) (CIT) Given Average Recommendation of "Hold" by Brokerages - August 12 at 2:50 PM logoIHS Markit Score downgrades CIT Group Inc to 48 out of 100, ranking positively in only two out of four IHS Markit categories. - August 10 at 6:27 PM logoZacks: Brokerages Anticipate CIT Group Inc (DEL) (CIT) Will Post Earnings of $0.78 Per Share - August 10 at 2:16 PM logoCIT Group Inc (DEL) (CIT) Ex-Dividend Date Scheduled for August ... - Nasdaq - August 8 at 4:58 PM logoHead to Head Survey: CIT Group Inc (DEL) (NYSE:CIT) & United Community Financial Corp. (UCFC) - August 8 at 4:30 PM logoCIT Expands Industrial Sales Team for Equipment Finance Division - August 7 at 5:39 PM logoCIT Group, Inc. breached its 50 day moving average in a Bearish Manner : CIT-US : August 1, 2017 - August 1 at 5:53 PM logoCIT Employees Volunteer 7,625 Hours This Summer - August 1 at 5:53 PM logoQ4 2017 Earnings Estimate for CIT Group Inc (DEL) Issued By DA Davidson (CIT) - July 28 at 4:09 PM logoOppenheimer Holdings Comments on CIT Group Inc (DEL)'s Q3 2017 Earnings (NYSE:CIT) - July 28 at 7:48 AM logoOppenheimer Holdings Weighs in on CIT Group Inc (DEL)'s Q4 2017 Earnings (CIT) - July 27 at 12:08 PM logoCIT Group Inc (DEL) Expected to Post FY2017 Earnings of $2.66 Per Share (CIT) - July 27 at 10:42 AM logoCIT Group Inc (DEL) (NYSE:CIT) Price Target Raised to $48.60 at BMO Capital Markets - July 26 at 6:51 PM logoCIT Group's (CIT) Q2 Earnings Improve Y/Y on Lower Costs - July 26 at 5:47 PM logoEdited Transcript of CIT earnings conference call or presentation 25-Jul-17 12:00pm GMT - July 25 at 10:12 PM logoTrump Wall Street Watchdogs to Shed Millions in Bank Assets - July 25 at 10:12 PM logoCIT Announces Second Quarter 2017 Results - July 25 at 5:11 PM logoInvestor Network: CIT Group Inc. to Host Earnings Call - July 25 at 5:10 PM logoCIT Receives 2017 Operations And Technology Excellence Award - July 25 at 5:10 PM logoCIT beats 2Q profit forecasts - July 25 at 5:10 PM logoCIT Group Inc (DEL) (CIT) Given Buy Rating at BTIG Research - July 25 at 11:38 AM logoCIT Group Inc (DEL) (NYSE:CIT) Posts Earnings Results, Beats Expectations By $0.07 EPS - July 25 at 11:28 AM logoShould You Buy CIT Group (CIT) Ahead of Earnings? - July 24 at 11:31 AM logoZacks: Brokerages Anticipate CIT Group Inc (DEL) (NYSE:CIT) Will Post Quarterly Sales of $491.65 Million - July 23 at 11:25 AM logo$0.57 EPS Expected for CIT Group Inc (DEL) (CIT) This Quarter - July 21 at 9:48 AM logoCIT Group Inc (DEL) (NYSE:CIT) Lowered to Hold at ValuEngine - July 19 at 11:08 PM logoCIT Group Inc (DEL) (NYSE:CIT) Set to Announce Earnings on Wednesday - July 19 at 9:00 AM logoCIT Names Khanh T. Tran To Board Of Directors - July 18 at 6:43 PM



CIT Group (CIT) Chart for Sunday, September, 24, 2017

This page was last updated on 9/24/2017 by Staff