NYSE:CIT

CIT Group Stock Forecast, Price & News

$48.72
+0.43 (+0.89 %)
(As of 07/28/2021 12:00 AM ET)
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Today's Range
$47.72
$49.32
50-Day Range
$45.67
$54.94
52-Week Range
$15.65
$55.89
Volume472,499 shs
Average Volume893,822 shs
Market Capitalization$4.83 billion
P/E Ratio17.09
Dividend Yield2.90%
Beta1.56
30 days | 90 days | 365 days | Advanced Chart
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CIT Group logo

About CIT Group

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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MarketRank

Overall MarketRank

2.11 out of 5 stars

Finance Sector

403rd out of 2,033 stocks

National Commercial Banks Industry

43rd out of 166 stocks

Analyst Opinion: 1.1Community Rank: 3.0Dividend Strength: 1.7Insider Behavior: 1.7Valuation: 3.1 5 -4 -3 -2 -1 -
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CIT Group (NYSE:CIT) Frequently Asked Questions

Is CIT Group a buy right now?

7 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for CIT Group in the last year. There are currently 6 hold ratings and 1 buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "hold" CIT Group stock. A hold rating indicates that analysts believe investors should maintain any existing positions they have in CIT, but not buy additional shares or sell existing shares.
View analyst ratings for CIT Group
or view top-rated stocks.

What stocks does MarketBeat like better than CIT Group?

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

Are investors shorting CIT Group?

CIT Group saw a decrease in short interest in June. As of June 30th, there was short interest totaling 21,700 shares, a decrease of 99.5% from the June 15th total of 4,640,000 shares. Based on an average daily trading volume, of 838,700 shares, the short-interest ratio is currently 0.0 days. Currently, 0.0% of the shares of the company are short sold.
View CIT Group's Short Interest
.

When is CIT Group's next earnings date?

CIT Group is scheduled to release its next quarterly earnings announcement on Friday, October 15th 2021.
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 Monday, July, 26th. The financial services provider reported $2.09 EPS for the quarter, topping the consensus estimate of $1.24 by $0.85. The financial services provider had revenue of $478 million for the quarter, compared to analysts' expectations of $449 million. CIT Group had a trailing twelve-month return on equity of 8.27% and a net margin of 10.06%. CIT Group's revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.62) earnings per share.
View CIT Group's earnings history
.

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 (WHO). Since then, CIT stock has increased by 105.7% and is now trading at $48.72.
View which stocks have been most impacted by COVID-19
.

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

CIT Group declared a quarterly dividend on Monday, July 19th. Shareholders of record on Friday, July 30th will be paid a dividend of $0.35 per share on Friday, August 13th. This represents a $1.40 annualized dividend and a dividend yield of 2.87%. The ex-dividend date is Thursday, July 29th.
View CIT Group's dividend history
.

Is CIT Group a good dividend stock?

CIT Group pays an annual dividend of $1.40 per share and currently has a dividend yield of 2.90%.
View CIT Group's dividend history.

What price target have analysts set for CIT?

7 brokerages have issued 1 year price targets for CIT Group's stock. Their forecasts range from $24.00 to $62.00. On average, they expect CIT Group's share price to reach $42.50 in the next year. This suggests that the stock has a possible downside of 12.8%.
View analysts' price targets for CIT Group
or view top-rated stocks among Wall Street analysts.

Who are CIT Group's key executives?

CIT Group's management team includes the following people:
  • Ms. Ellen R. Alemany, Chairwoman & CEO (Age 65, Pay $3.81M)
  • Mr. John J. Fawcett, Exec. VP & CFO (Age 62, Pay $2.31M)
  • Ms. Denise M. Menelly, Exec. VP and Head of Technology & Operations (Age 59, Pay $1.74M)
  • Mr. Steven Solk, Pres of Consumer Banking (Age 66, Pay $1.36M)
  • Mr. David M. Harnisch, Pres of Commercial Fin. (Age 50, Pay $1.64M)
  • Ms. Alla Whitston, Chief Technology Officer
  • Ms. Barbara A. Callahan, Sr. VP & Head of Investor Relations
  • Mr. James R. Hubbard, Exec. VP, Gen. Counsel & Corp. Sec. (Age 62)
  • Ms. Gina M. Proia, Chief Marketing & Communications Officer and Exec. VP (Age 49)
  • Mr. James J. Duffy, Chief HR Officer & Exec. VP (Age 66)

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).

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 retail and institutional investors. Top institutional investors include Oregon Public Employees Retirement Fund (0.03%), New Mexico Educational Retirement Board (0.02%) and OTA Financial Group L.P. (0.01%). Company insiders that own CIT Group stock include Alan L Frank, David Harnisch, Edward K Sperling, Ellen R Alemany, John J Fawcett, Michael L Brosnan, Robert C Rubino, Steve Solk and Wahida Plummer.
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 OTA Financial Group L.P.. Company insiders that have sold CIT Group company stock in the last year include Edward K Sperling, Michael L Brosnan, Steve Solk, and Wahida Plummer.
View insider buying and selling activity for CIT Group
or view top insider-selling stocks.

Which major investors are buying CIT Group stock?

CIT stock was purchased by a variety of institutional investors in the last quarter, including New Mexico Educational Retirement Board, and Oregon Public Employees Retirement Fund. 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
or or view top insider-buying stocks.

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 WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

What is CIT Group's stock price today?

One share of CIT stock can currently be purchased for approximately $48.72.

How much money does CIT Group make?

CIT Group has a market capitalization of $4.83 billion and generates $3.15 billion in revenue each year. The financial services provider earns $-615,300,000.00 in net income (profit) each year or ($0.70) on an earnings per share basis.

How many employees does CIT Group have?

CIT Group employs 4,163 workers across the globe.

Does CIT Group have any subsidiaries?

The following companies are subsidiares of CIT Group: 1143986 Ontario Limited, 1244771 Ontario Limited, 3918041 Canada Inc., 544211 Alberta Ltd., 555565 Alberta Ltd., 555566 Alberta Ltd., Baliardo Limited, C.I.T. Leasing Corporation, C2 Aviation Capital LLC, CBG LJB 21 LLC, CCERU Finance LP, CFHE Funding Company LLC, CIT Aerospace (Australia) Pty Ltd, CIT Aerospace Asia Pte Ltd., CIT Aerospace Belgium Sprl, CIT Aerospace Holdings (Australia) Pty Ltd, CIT Aerospace Holdings (France) SAS, CIT Aerospace International, CIT Aerospace International (Aruba) A.V.V., CIT Aerospace International (Australia) Pty Ltd., CIT Aerospace International (Bermuda) Limited, CIT Aerospace International (France) Sarl, CIT Aerospace International Leasing II, CIT Aerospace LLC, CIT Aerospace Sweden AB, CIT Asset Management LLC, CIT Aviation Finance I (France) Sarl, CIT Aviation Finance I (Ireland) Limited, CIT Aviation Finance I (UK) Limited, CIT Aviation Finance I Ltd., CIT Aviation Finance II (France) Sarl, CIT Aviation Finance II (Ireland) Limited, CIT Aviation Finance II (UK) Limited, CIT Aviation Finance II Ltd., CIT Aviation Finance III Ltd., CIT Bank N.A., CIT CBK Funding Company LLC, CIT CBK Funding Inc., CIT CLO Holding Corporation, CIT CLO I Blocker Inc., CIT CLO I LLC, CIT CLO I Ltd., CIT Canada Finance LP, CIT Canada Finance ULC, CIT Capital Aviation (UK) Limited, CIT Capital Finance (UK) Limited (in liquidation), CIT Capital Securities LLC, CIT Capital USA Inc., CIT Cayman Coconut Palm Leasing Ltd., CIT Cayman Sandy Keys Leasing Ltd., CIT Communications Finance Corporation, CIT Credit Group USA Inc., CIT Equipment Finance (UK) Limited (in liquidation), CIT FSC Eighteen Ltd., CIT FSC Nineteen Ltd., CIT Finance & Leasing (Tianjin) Corporation, CIT Finance & Leasing Corporation, CIT Finance LLC, CIT Financial (Alberta) ULC / Services Financiers CIT (Alberta) ULC, CIT Financial (Barbados) SRL, CIT Financial (Hong Kong) Limited, CIT Financial II (Barbados) Srl, CIT Financial Ltd./Services Financiers CIT Ltee., CIT Financial USA Inc., CIT Funding (UK) Limited (in liquidation), CIT Funding Company LLC, CIT Funding LLC, CIT Funds LLC, CIT Group (Hungary) Financial Servicing Limited Liability Company "under voluntary dissolution", CIT Group (NFL) Limited (in liquidation), CIT Group (NJ) LLC, CIT Group (Singapore) Pte Ltd (In Members' Voluntary Liquidation), CIT Group (UK) Limited (in liquidation), CIT Group Finance (Ireland), CIT Group Holding (Germany) GmbH i.L., CIT Group Holdings (UK) Limited (in liquidation), CIT Group Holdings B.V., CIT Group Inc., CIT Group Italy Srl in liquidazione, CIT Group SF Holding Co. Inc., CIT Healthcare LLC, CIT Holdings (Barbados) SRL, CIT Holdings B.V., CIT Holdings Canada ULC, CIT Home Lending Securitization Company LLC, CIT Insurance Agency Inc., CIT Leasing (Bermuda) Ltd., CIT Leasing (Germany) GmbH i.L., CIT Lending Services Corporation, CIT Lending Services Corporation (Illinois), CIT Loan Corporation, CIT Malaysia One Inc., CIT Maritime Leasing LLC, CIT Mezzanine Partners of Canada Limited, CIT Millbury Inc., CIT Rail Holdings (Europe) SAS, CIT Rail LLC, CIT Railcar Funding Company LLC, CIT Small Business Lending Corporation, CIT Strategic Finance Inc., CIT TRS Funding B.V., CIT TRS Holdings B.V., CIT TRS Subsidiary B.V., CIT Technology Financing Services Inc., CIT Trade Finance Funding Company LLC, CIT Transportation Holdings B.V., CRE CT 21 OTHER LLC, CRE CT 27 OTHER LLC, CRE FFBC LLC, CRE LJ 21 OTHER LLC, CRE LJ 27 OTHER LLC, CRE LJ 4800 Riverside LLC, CRE LJ CA 2 LLC, CRE LJ CA LLC, CRE LJ CP ESCONDIDO LLC, CRE LJ TX LLC, Canadian Income Partners I Limited Partnership, Canadian Income Partners II Limited Partnership, Canadian Income Partners III Limited Partnership, Canadian Income Partners IV Limited Partnership, Canadian Income Partners V Limited Partnership, Canadian Income Partners VI Limited Partnership, Canadian Income Partners VII Limited Partnership, Canadian Income Partners VIII Limited Partnership, Capita Corporation, Capital Direct Group Inc., Centennial Aviation (Bermuda) 1 Ltd., Centennial Aviation (France) 1 SARL, Centennial Aviation (France) 2 SARL, Centennial Aviation (Ireland) 7 Limited, Direct Capital Corporation, Direct Capital Funding III Company LLC, Direct Capital Funding V LLC, Education Loan Servicing Corporation, Emerald Funding (Netherlands) C.V., Emerald Holdings C.V., Financial Freedom Acquisition LLC, IMV 11 PALM LLC, INDYMAC VENTURE LLC, Jessica Leasing Designated Activity Company, MEX CIT SERVICIOS S. de R.L. de C.V., Madeleine Leasing Designation Activity Company, Memphis Peaking Power LLC, Millennium Leasing Company I LLC, Millennium Leasing Company II LLC, NACCO (U.K.) Limited, NACCO GmbH, NACCO Rail Ireland Limited, NACCO S.A.S, Nacco Luxembourg S.à.r.l., Newcourt Financial Espana S.A., North Romeo Storage Corporation, ONEWEST VENTURES HOLDINGS LLC, OWB REO LLC, OneWest Bank N.A, OneWest Investments II LLC, OneWest Investments LLC, OneWest Resources LLC, PL Servicing LLC, Rita Leasing Designated Activity Company, The CIT GP Corporation III, The CIT Group Securitization Corporation II, The CIT Group/Business Credit Inc., The CIT Group/Commercial Services Inc., The CIT Group/Corporate Aviation Inc., The CIT Group/Equipment Financing Inc., The CIT Group/Equity Investments Inc., The Capita Corporation do Brasil Ltda, The Equipment Insurance Company, and Worrell Capital Limited.

When was CIT Group founded?

CIT Group was founded in 1908.

What is CIT Group's official website?

The official website for CIT Group is www.cit.com.

Where are CIT Group's headquarters?

CIT Group is headquartered at 11 West 42nd Street, New York NY, 10036.

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 7/29/2021 by MarketBeat.com Staff
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