Last $46.42 USD
Change Today -0.34 / -0.73%
Volume 3.2M
CIT On Other Exchanges
Symbol
Exchange
Berlin
New York
As of 8:04 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

cit group inc (CIT) Snapshot

Open
$46.93
Previous Close
$46.76
Day High
$47.05
Day Low
$46.29
52 Week High
01/9/14 - $52.72
52 Week Low
04/23/13 - $39.46
Market Cap
9.1B
Average Volume 10 Days
1.8M
EPS TTM
$3.65
Shares Outstanding
195.0M
EX-Date
05/13/14
P/E TM
12.7x
Dividend
$0.40
Dividend Yield
0.43%
Current Stock Chart for CIT GROUP INC (CIT)

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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. The company operates in five segments: Corporate Finance, Transportation Finance, Trade Finance, Vendor Finance, and Consumer. The Corporate Finance segment offers lending, leasing, and other financial and advisory services to small and middle-market companies in various industries, such as commercial and industrial, communications, media and entertainment, healthcare, and energy. The Transportation Finance segment provides aircraft and railcar, leasing and financing solutions to operators and suppliers in the aviation and railcar industries. This segment also offers lending and other financial products and services to companies in the transportation sector, such as business aircraft, maritime, and aerospace and defense industries. The Trade Finance segment provides a range of domestic and international customized credit protection, lending, and outsourcing services that include working capital and term loans, factoring, receivables management products, bulk purchases of accounts receivable, import and export financing, and letter of credit programs to retail supply chain companies. The Vendor Finance segment partners with manufacturers, distributors, dealers, and product resellers to deliver financing and leasing solutions to end-user customers for the acquisition of equipment. The Consumer segment offers government-guaranteed student loan portfolios, which are in run-off. The company also provides account receivables collection, acquisition and expansion financing, asset management and servicing, credit protection, financial risk management, import and export financing, insurance, letters of credit, and mergers and acquisition advisory services, as well as debt restructuring, underwriting, and syndication services. CIT Group Inc. was founded in 1908 and is headquartered in Livingston, New Jersey.

3,240 Employees
Last Reported Date: 02/28/14
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, Chief Accounting Off...
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 2013.

cit group inc (CIT) Key Developments

CIT Appoints William Douglass Group Head of CIT Corporate Finance, Healthcare

CIT Group Inc. appointed William Douglass Group Head and Managing Director of CIT Corporate Finance, Healthcare, effective immediately. He previously served as Underwriting Manager for the Group where he was responsible for overseeing the transaction underwriting function. Douglass will be responsible for overseeing CIT's financing and advisory activities in the sector, including syndicated cash flow financings, asset based loans, real estate financings and M&A advisory engagements. He brings to the role 20 years of leveraged finance and corporate banking experience. Prior to joining CIT in 2009, Douglass spent 10 years with Citigroup, focused on middle market leverage lending and junior debt, covering multiple industries with responsibilities including origination, underwriting, and portfolio management.

CIT Group Inc. Names Sheila A. Stamps to Board of Directors and as Member of Risk Management and Regulatory Compliance Committees

CIT Group Inc. announced that Sheila A. Stamps has been named to CIT's Board of Directors effective immediately. She will serve as a member of CIT's Risk Management and Regulatory Compliance Committees. Stamps served as Executive Vice President of Corporate Strategy and Investor Relations at Dreambuilder Investments, LLC. Prior to this, Stamps served as Managing Director and Head of Relationship Management, Financial Institutions at FleetBoston Financial.

CIT Real Estate Finance Provides a $26 Million Senior Secured Credit Facility to CIT Group Inc. to Redevelop the PGA Plaza Shopping Center

CIT Group Inc. announced that CIT Real Estate Finance provided a $26 million senior secured credit facility to redevelop the PGA Plaza Shopping Center, a joint venture headed by Menin Development, a privately held owner, developer and manager of commercial real estate in the Southeast U.S. The financing will be used to make site improvements to the PGA Plaza Shopping Center in Palm Beach Gardens, Florida, including renovating the exterior of the property. Financing was provided by CIT Bank, the U.S. commercial bank subsidiary of CIT. Terms of the transaction were not disclosed.

 

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Industry Analysis

CIT

Industry Average

Valuation CIT Industry Range
Price/Earnings 14.0x
Price/Sales 3.8x
Price/Book 1.0x
Price/Cash Flow 13.5x
TEV/Sales NM Not Meaningful
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