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

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$51.11 +0.34 (+0.67 %)
(As of 02/19/2019 04:00 PM ET)
Previous Close$50.77
Today's Range$50.35 - $51.27
52-Week Range$35.50 - $56.14
Volume671,800 shs
Average Volume975,936 shs
Market Capitalization$5.40 billion
P/E Ratio12.65
Dividend Yield1.97%
Beta1.46
CIT Group Inc. operates as the bank holding company for CIT Bank, National Association that provides banking and related services to commercial and individual customers. The company operates through three segments: Commercial Banking, Consumer Banking, and Non-Strategic Portfolios (NSP). 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; and equipment leasing and secured financing to railroads and non-rail companies. The Consumer Banking segment provides mortgage loans and deposits. It accepts deposits, including checking and savings accounts, money market accounts, and certificates of deposit; and offers residential mortgage and small business administration loans, and reverse mortgages, as well as fiduciary services. The NSP segment provides equipment financing, secured lending, and leasing and advisory services to small and middle-market businesses. The company also offers online banking services. It operates through a network of 70 branches located in southern California. CIT Group Inc. was founded in 1908 and is headquartered in Livingston, New Jersey.

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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$3.27 billion
Cash Flow$9.03 per share
Book Value$53.29 per share

Profitability

Net Income$447.10 million

Miscellaneous

Employees4,167
Market Cap$5.40 billion
OptionableOptionable

CIT Group (NYSE:CIT) Frequently Asked Questions

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 Wednesday, January 23rd. Stockholders of record on Friday, February 8th will be given a dividend of $0.25 per share on Friday, February 22nd. This represents a $1.00 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Thursday, February 7th. View CIT Group's Dividend History.

How will CIT Group's stock buyback program work?

CIT Group declared that its Board of Directors has authorized a share repurchase plan on Thursday, June 29th 2017, which permits the company to repurchase $225,000,000.00 in outstanding shares, according to EventVestor. This repurchase authorization permits the company to buy up to 2.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

How were CIT Group's earnings last quarter?

CIT Group Inc. (NYSE:CIT) posted its quarterly earnings data on Tuesday, January, 29th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $1.10 by $0.11. The financial services provider earned $421 million during the quarter, compared to analysts' expectations of $507 million. CIT Group had a net margin of 13.66% and a return on equity of 7.58%. During the same period last year, the company earned $0.99 earnings per share. View CIT Group's Earnings History.

When is CIT Group's next earnings date?

CIT Group is scheduled to release their next quarterly earnings announcement on Tuesday, April 23rd 2019. View Earnings Estimates for CIT Group.

What price target have analysts set for CIT?

9 brokerages have issued twelve-month price objectives for CIT Group's stock. Their predictions range from $47.00 to $61.00. On average, they anticipate CIT Group's stock price to reach $53.96 in the next year. This suggests a possible upside of 5.6% from the stock's current price. View Analyst Price Targets for CIT Group.

What is the consensus analysts' recommendation for CIT Group?

9 Wall Street analysts have issued "buy," "hold," and "sell" ratings for CIT Group in the last year. There are currently 5 hold ratings and 4 buy ratings for the stock, resulting in a consensus recommendation of "Hold." View Analyst Ratings for CIT Group.

Has CIT Group been receiving favorable news coverage?

News stories about CIT stock have been trending somewhat positive recently, according to InfoTrie Sentiment Analysis. InfoTrie identifies negative and positive news coverage by monitoring more than six thousand blog and news sources in real-time. The firm ranks coverage of public companies on a scale of negative five to five, with scores nearest to five being the most favorable. CIT Group earned a news impact score of 0.9 on InfoTrie's scale. They also gave news headlines about the financial services provider a news buzz of 4.0 out of 10, indicating that recent news coverage is somewhat unlikely to have an impact on the stock's share price in the immediate future.

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

Who are CIT Group's major shareholders?

CIT Group's stock is owned by a variety of of institutional and retail investors. Top institutional shareholders include BlackRock Inc. (6.16%), LSV Asset Management (3.94%), New Mountain Vantage Advisers L.L.C. (3.54%), Dimensional Fund Advisors LP (2.48%), Lakewood Capital Management LP (2.28%) and Northern Trust Corp (1.53%). Company insiders that own CIT Group stock include Denise M Menelly, Edward K Sperling, James L Hudak, Michael L Brosnan, R Brad Oates, Robert Rowe, 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 Owl Creek Asset Management L.P., Millennium Management LLC, D. E. Shaw & Co. Inc., Dalton Greiner Hartman Maher & Co., Basswood Capital Management L.L.C., Bank of America Corp DE, BlackRock Inc. and KBC Group NV. Company insiders that have sold CIT Group company stock in the last year include Edward K Sperling, James L Hudak and Sheila A Stamps. View Insider Buying and Selling 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 New Mountain Vantage Advisers L.L.C., Lakewood Capital Management LP, Northern Trust Corp, LSV Asset Management, Geode Capital Management LLC, Brandywine Global Investment Management LLC, APG Asset Management N.V. and MUFG Securities EMEA plc. View Insider Buying and Selling 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, Scottrade, Fidelity and Charles Schwab.

What is CIT Group's stock price today?

One share of CIT stock can currently be purchased for approximately $51.11.

How big of a company is CIT Group?

CIT Group has a market capitalization of $5.40 billion and generates $3.27 billion in revenue each year. The financial services provider earns $447.10 million in net income (profit) each year or $4.04 on an earnings per share basis. CIT Group employs 4,167 workers across the globe.

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.


MarketBeat Community Rating for CIT Group (NYSE CIT)

Community Ranking:  2.1 out of 5 (star star)
Outperform Votes:  414 (Vote Outperform)
Underperform Votes:  553 (Vote Underperform)
Total Votes:  967
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 2/19/2019 by MarketBeat.com Staff

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