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Last $46.56 USD
Change Today +0.0765 / 0.16%
Volume 145.2K
CIT On Other Exchanges
Symbol
Exchange
New York
As of 10:47 AM 06/30/15 All times are local (Market data is delayed by at least 15 minutes).

cit group inc (CIT) Snapshot

Open
$46.89
Previous Close
$46.48
Day High
$47.04
Day Low
$46.50
52 Week High
07/28/14 - $50.23
52 Week Low
01/29/15 - $43.21
Market Cap
8.1B
Average Volume 10 Days
1.2M
EPS TTM
$3.45
Shares Outstanding
174.1M
EX-Date
05/13/15
P/E TM
13.5x
Dividend
$0.60
Dividend Yield
1.28%
Current Stock Chart for CIT GROUP INC (CIT)

cit group inc (CIT) Details

CIT Group Inc. operates as the holding company for CIT bank that provides commercial financing and leasing products; and a suite of savings options in the United States. Its Transportation & International Finance segment offers leasing and financing solutions to operators and suppliers in the aviation and railcar industries. It offers aircraft leasing, lending, asset management, and advisory services to airlines; and term loans, leases, pre-delivery financing, fractional share financing, and vendor/manufacturer financing for corporate and private owners of business jets. This segment also provides secured loans, sale-leasebacks, and bareboat charters to owners and operators of oceangoing cargo vessels; and equipment financing, lending, and leasing to small and middle-market businesses. The company’s North American Commercial Finance segment offers commercial services, such as factoring, receivable management products, and secured financing to apparel, textile, furniture, home furnishings, and consumer electronics industries; corporate finance, including financing options and advisory services to commercial and industrial, communications, media and entertainment, energy, and healthcare industries; leasing and equipment loan solutions; and commercial real estate loans to developers and other commercial real estate professionals. The company also offers various products and services, including acquisition and expansion financing, asset-based loans, credit protection, debtor-in-possession/turnaround financing, deposits, enterprise value and cash flow loans, financial risk management, import and export financing, insurance, letters of credit/trade acceptances, mergers and acquisition advisory services, and secured lines of credit, as well as debt restructuring, underwriting, and syndication services. CIT Group Inc. was founded in 1908 and is headquartered in Livingston, New Jersey.

3,360 Employees
Last Reported Date: 05/7/15
Founded in 1908

cit group inc (CIT) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: $1.0M
President, Chairman of CIT Bank, Chief Execut...
Total Annual Compensation: $752.9K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $501.9K
President of Transportation & International F...
Total Annual Compensation: $501.9K
Chief Risk Officer and Executive Vice Preside...
Total Annual Compensation: $501.9K
Compensation as of Fiscal Year 2014.

cit group inc (CIT) Key Developments

CIT Group Inc. Provides $75 Million Senior Secured Credit Facility

CIT Group Inc. announced that it provided a $75 million senior secured credit facility to an affiliate of AES Distributed Energy Inc., to finance its acquisition of residential solar systems across the United States through its MySolarSM program. CIT Corporate Finance, Energy served as Lead Arranger, Administrative Agent and Sole Bookrunner. Financing was provided by CIT Bank, the U.S. commercial bank subsidiary of CIT. MySolarSM is a strategic partnership formed by affiliates of AES Distributed Energy and Morgan Stanley for the purpose of financing, owning and operating residential solar systems, which provide low-cost, reliable solar energy to consumers across the country under the terms of long-term, fixed-rate solar leases.

General Electric To Sell Its US Lending Assets

General Electric Company (NYSE: GE) has launched the sales process for a roughly $40 billion portion of its U.S. commercial lending assets as a part of its broad retreat from its finance businesses, a source familiar with the situation said. GE spokesman declined to comment. U.S. Bancorp (NYSE:USB), Wells Fargo & Company (NYSE:WFC), Ally Financial Inc. (NYSE:ALLY), General Electric Company (NYSE:GE), The Toronto-Dominion Bank (TSX:TD), Capital One Financial Corporation (NYSE:COF) and CIT Group Inc. (NYSE:CIT) are among the potential bidders for the GE assets, the paper said, citing people familiar with the matter. GE is working with Credit Suisse Group AG and Goldman Sachs Group Inc on the sale, while J.P. Morgan Chase & Co is overseeing all of the sales processes, according to the source.

CIT Group Names Rob Seltzer as Managing Director of CIT Capital Equipment Finance

CIT Group Inc. announced on May 13 that Rob Seltzer was appointed as managing director of CIT Capital Equipment Finance. Prior to joining CIT, Seltzer was the head of business development for PHH Corp.'s PHH Mortgage Corp.

 

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Industry Analysis

CIT

Industry Average

Valuation CIT Industry Range
Price/Earnings 4.5x
Price/Sales 1.8x
Price/Book 0.5x
Price/Cash Flow -- Not Meaningful
TEV/Sales -- Not Meaningful
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