Last €36.00 EUR
Change Today +0.016 / 0.04%
Volume 0.0
QIT1 On Other Exchanges
Symbol
Exchange
Berlin
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As of 3:01 AM 09/2/14 All times are local (Market data is delayed by at least 15 minutes).

cit group inc (QIT1) Snapshot

Open
€36.31
Previous Close
€35.98
Day High
€36.31
Day Low
€36.00
52 Week High
01/9/14 - €38.08
52 Week Low
05/7/14 - €29.68
Market Cap
6.7B
Average Volume 10 Days
0.0
EPS TTM
--
Shares Outstanding
185.7M
EX-Date
08/13/14
P/E TM
--
Dividend
€0.59
Dividend Yield
0.91%
Current Stock Chart for CIT GROUP INC (QIT1)

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. 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.

3,170 Employees
Last Reported Date: 08/6/14
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, 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 (QIT1) Key Developments

CIT Group Inc. Announces Board Appointments

CIT Group Inc. announced that it has entered into a definitive agreement and plan of merger with IMB Holdco LLC. Following the close of the transaction, CIT Bank, CIT's banking subsidiary, will merge with OneWest Bank under the ‘CIT Bank’ name. CIT Group Inc. will continue to be led by John A. Thain, Chairman and Chief Executive Officer. Following the close of the transaction, Steven T. Mnuchin, Chairman of IMB Holdco LLC, will join CIT Group Inc. as Vice Chairman and will also become a member of its Board of Directors. Alan Frank, an independent director from OneWest Bank will also join the CIT Board, increasing its size from 13 to 15 members.

CIT Group Inc. Announces Consolidated Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

CIT Group Inc. announced consolidated unaudited earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total interest income of $309.8 million against $319.1 million a year ago. Net interest revenue was $47.6 million against $56.5 million a year ago. Income from continuing operations before provision for income taxes was $219.0 million against $205.4 million a year ago. Net income was $246.9 million against $183.6 million a year ago. Diluted income per common share was $1.29 against $0.91 a year ago. Second quarter results reflect growth in earning assets and a further shift to deposit funding. Additionally, net income reflected benefits from loan prepayments, lower credit costs as well as the restructuring of two aircraft securitizations in company's TRS facility that positively impacted interest expense and other income. Income from continuing operations was at $195.2 million against $175.6 million reported last year. For the six months, the company reported total interest income of $612.0 million against $641.6 million a year ago. Net interest revenue was $77.9 million against $104.9 million a year ago. Income from continuing operations before provision for income taxes was $341.7 million against $374.1 million a year ago. Net income was $364.1 million against $346.2 million a year ago. Diluted income per common share was $1.88 against $1.71 a year ago. Book value per share at June 30, 2014 grew to $46.42 from $45.10 at March 31, 2014 and $43.16 at June 30, 2013. Income from continuing operations was at $310.1 million against $328.5 million reported last year. Tangible book value per share at June 30, 2014 increased to $44.16, from $42.94 at June 30, 2013 and $41.33 at June 30, 2013.

CIT Group Inc. Orders with Airbus for 15 A330-900neo Aircraft and Five A321ceo Aircraft

CIT Group Inc. placed an order with Airbus for 15 A330-900neo aircraft and five A321ceo aircraft.

 

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Industry Analysis

QIT1

Industry Average

Valuation QIT1 Industry Range
Price/Earnings 14.4x
Price/Sales 3.7x
Price/Book 1.0x
Price/Cash Flow 12.8x
TEV/Sales NM Not Meaningful
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