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

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$51.65 +0.81 (+1.59 %)
(As of 05/22/2019 08:00 AM ET)
Previous Close$50.84
Today's Range$51.12 - $51.76
52-Week Range$35.50 - $55.78
Volume398,000 shs
Average Volume842,176 shs
Market Capitalization$4.98 billion
P/E Ratio12.78
Dividend Yield2.75%
Beta1.5
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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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$7.9339 per share
Book Value$57.96 per share

Profitability

Net Income$447.10 million

Miscellaneous

Employees3,678
Market Cap$4.98 billion
Next Earnings Date7/23/2019 (Estimated)
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, April 17th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.35 per share on Friday, May 24th. This represents a $1.40 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Thursday, May 9th. This is an increase from CIT Group's previous quarterly dividend of $0.25. View CIT Group's Dividend History.

How will CIT Group's stock buyback program work?

CIT Group declared that its Board of Directors has initiated a share repurchase program on Thursday, June 29th 2017, which allows the company to repurchase $225,000,000.00 in outstanding shares, according to EventVestor. This repurchase authorization allows the company to purchase up to 2.3% of its stock through open market purchases. Stock repurchase programs 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) issued its quarterly earnings results on Tuesday, April, 23rd. The financial services provider reported $1.18 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $1.09 by $0.09. The financial services provider earned $466.20 million during the quarter, compared to the consensus estimate of $461.11 million. CIT Group had a return on equity of 8.58% and a net margin of 14.23%. The firm's revenue was down 5.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.69 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, July 23rd 2019. View Earnings Estimates for CIT Group.

What price target have analysts set for CIT?

9 analysts have issued twelve-month target prices for CIT Group's stock. Their predictions range from $47.00 to $71.00. On average, they anticipate CIT Group's share price to reach $56.0711 in the next twelve months. This suggests a possible upside of 8.6% 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. The research group scores the sentiment of press coverage by reviewing more than six thousand blog and news sources in real time. The firm ranks coverage of publicly-traded companies on a scale of -5 to 5, with scores nearest to five being the most favorable. CIT Group earned a media sentiment score of 1.5 on InfoTrie's scale. They also assigned news headlines about the financial services provider a news buzz of 10.0 out of 10, indicating that recent press coverage is extremely likely to have an effect on the company's share price in the near term.

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 American International Group (AIG), JPMorgan Chase & Co. (JPM), Kinder Morgan (KMI), Morgan Stanley (MS), Intel (INTC), Starbucks (SBUX), American Express (AXP), Blackstone Group (BX), Citigroup (C) and Netflix (NFLX).

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)
  • 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)

Who are CIT Group's major shareholders?

CIT Group's stock is owned by a number of of retail and institutional investors. Top institutional shareholders include BlackRock Inc. (6.43%), LSV Asset Management (4.55%), Hotchkis & Wiley Capital Management LLC (2.95%), Hotchkis & Wiley Capital Management LLC (2.95%), Dimensional Fund Advisors LP (2.72%) and Thompson Siegel & Walmsley LLC (2.68%). Company insiders that own CIT Group stock include Denise M Menelly, Edward K Sperling, James L Hudak, Matthew Galligan, Michael L Brosnan, Robert Rowe, Sheila A Stamps 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 Northern Trust Corp, OppenheimerFunds Inc., Thompson Siegel & Walmsley LLC, BlackRock Inc., Goldman Sachs Group Inc., Hotchkis & Wiley Capital Management LLC, Hotchkis & Wiley Capital Management LLC and Morgan Stanley. Company insiders that have sold CIT Group company stock in the last year include Edward K Sperling, Matthew Galligan and Sheila A Stamps. View Insider Buying and Selling for CIT Group.

Which major investors are buying CIT Group stock?

CIT stock was bought by a variety of institutional investors in the last quarter, including Wedge Capital Management L L P NC, LSV Asset Management, Marshall Wace LLP, BNP Paribas Arbitrage SA, Oxford Asset Management LLP, AQR Capital Management LLC, Dalton Greiner Hartman Maher & Co. and Acadian Asset Management LLC. 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 $51.65.

How big of a company is CIT Group?

CIT Group has a market capitalization of $4.98 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 3,678 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:  2.2 out of 5 (star star)
Outperform Votes:  435 (Vote Outperform)
Underperform Votes:  576 (Vote Underperform)
Total Votes:  1,011
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 5/22/2019 by MarketBeat.com Staff

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