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Last €42.22 EUR
Change Today +0.451 / 1.08%
Volume 0.0
QIT1 On Other Exchanges
New York
As of 3:18 PM 05/26/15 All times are local (Market data is delayed by at least 15 minutes).

cit group inc (QIT1) Snapshot

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52 Week High
04/15/15 - €44.89
52 Week Low
07/15/14 - €31.52
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cit group inc (QIT1) 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 (QIT1) 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 (QIT1) Key Developments

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.

Ryder System, Inc. Extends Partnership with CIT Group Inc. to Offer Its Customers More Financing Options for Pre-Owned Vehicles

Ryder System Inc. announced that it is making it easier than ever for customers to finance quality pre-owned vehicles. The company recently extended its U.S. preferred lender agreement with CIT Group Inc. to include Ryder customers in Canada. For the past four years, CIT, through its Direct Capital Corporation subsidiary, has been a preferred lender for Ryder Pre-Owned Vehicle Sales Centers across the United States. The Canadian partnership adds CIT to a list of preferred lenders, providing Ryder customers with more options for lending partners. The partnership increases the variety of highly competitive financing programs and additional alternatives for Ryder customers across Canada. Customers across Canada can choose from Ryder’s vast selection of pre-owned cab and chassis trucks, including diesel-powered straight truck models with a full range of payload capacities. Ryder currently offers the inventory of pre-owned vehicles for sale in North America, selling more than 17,000 vehicles a year from over 59 used truck centers across North America, including seven in Canada.

CIT Group Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Reports Net Charge-Offs for the First Quarter Ended March 31, 2015; Provides Financial Guidance for 2015

CIT Group Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company’s total interest income was USD 281 million, net interest revenue was USD 9.7 million, income before provision for income taxes was USD 147.6 million and net income was USD 103.7 million or USD 0.59 per basic and diluted share against total interest income of USD 302.2 million, net interest revenue of USD 30.3 million, income before provision for income taxes of USD 122.7 million and net income of USD 117.2 million or USD 0.59 per diluted share for the same period a year ago. Income from continuing operations was USD 103.7 million or USD 0.59 per basic and diluted share compared to USD 114.9 million or USD 0.58 per diluted share a year ago. Total net revenues were USD 423.8 million compared to USD 392.9 million a year ago. Book value per share at March 31, 2015 grew to USD 50.26 compared to USD 45.10 at March 31, 2014. Tangible book value per share at March 31, 2015 increased to USD 46.89 from USD 46.83 at December 31, 2014 and USD 42.94 at March 31, 2014. The increases in book value and tangible book value per share primarily reflected net income, including the partial reversals of the valuation allowance in the second half of 2014. For the quarter, the company reported net charge-offs of USD 21 million compared to USD 36 million a year ago. Over the course of 2015, the company will continue to prudently manage through the difficult lending market while maintaining underwriting discipline. The company expects to achieve a pretax ROA of between 1.3% and 1.4%, consistent with the near-term target for this segment. Given the current environment, the company is targeting a pretax ROA of approximately 2%, excluding the impact of CTA charges. The company will revisit profitably targets after OneWest closes.


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