CIT Group Inc. operates as the holding company for CIT Bank, N.A.
Flawless balance sheet with moderate growth potential.
Share Price & News
How has CIT Group's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: CIT's share price has been volatile over the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: CIT underperformed the US Banks industry which returned -27.6% over the past year.
Return vs Market: CIT underperformed the US Market which returned 4.3% over the past year.
Price Volatility Vs. Market
How volatile is CIT Group's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 months ago | Simply Wall StHow Does CIT Group's (NYSE:CIT) P/E Compare To Its Industry, After Its Big Share Price Gain?
2 months ago | Simply Wall StShould You Be Pleased About The CEO Pay At CIT Group Inc.'s (NYSE:CIT)
3 months ago | Simply Wall StNeed To Know: CIT Group Inc. (NYSE:CIT) Insiders Have Been Buying Shares
Is CIT Group undervalued compared to its fair value and its price relative to the market?
Price to Book (PB) ratio
Share Price vs. Fair Value
Below Fair Value: CIT ($19.47) is trading above our estimate of fair value ($1.9)
Significantly Below Fair Value: CIT is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: CIT is unprofitable, so we can't compare its PE Ratio to the Banks industry average.
PE vs Market: CIT is unprofitable, so we can't compare its PE Ratio to the US market.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate CIT's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: CIT is good value based on its PB Ratio (0.4x) compared to the US Banks industry average (0.8x).
How is CIT Group forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: CIT is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2.2%).
Earnings vs Market: CIT is forecast to become profitable over the next 3 years, which is considered above average market growth.
High Growth Earnings: CIT's is expected to become profitable in the next 3 years.
Revenue vs Market: CIT's revenue (3% per year) is forecast to grow slower than the US market (9.3% per year).
High Growth Revenue: CIT's revenue (3% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: CIT's Return on Equity is forecast to be low in 3 years time (7.2%).
How has CIT Group performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: CIT is currently unprofitable.
Growing Profit Margin: CIT is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: CIT is unprofitable, and losses have increased over the past 5 years at a rate of -25.9% per year.
Accelerating Growth: Unable to compare CIT's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: CIT is unprofitable, making it difficult to compare its past year earnings growth to the Banks industry (1.9%).
Return on Equity
High ROE: CIT has a negative Return on Equity (-3.65%), as it is currently unprofitable.
How is CIT Group's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Financial Institutions Analysis
Asset Level: CIT's Assets to Equity ratio (10.1x) is moderate.
Allowance for Bad Loans: CIT has a sufficient allowance for bad loans (291%).
Low Risk Liabilities: 79% of CIT's liabilities are made up of primarily low risk sources of funding.
Loan Level: CIT has an appropriate level of Loans to Assets ratio (63%).
Low Risk Deposits: CIT's Loans to Deposits ratio (89%) is appropriate.
Level of Bad Loans: CIT has an appropriate level of bad loans (1%).
What is CIT Group current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: CIT's dividend (7.19%) is higher than the bottom 25% of dividend payers in the US market (1.67%).
High Dividend: CIT's dividend (7.19%) is in the top 25% of dividend payers in the US market (4.49%)
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, CIT has been paying a dividend for less than 10 years.
Growing Dividend: CIT's dividend payments have increased, but the company has only paid a dividend for 7 years.
Current Payout to Shareholders
Dividend Coverage: CIT is paying a dividend but the company is unprofitable.
Future Payout to Shareholders
Future Dividend Coverage: CIT's dividends in 3 years are forecast to be well covered by earnings (49.8% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Ellen Alemany (64yo)
Ms. Ellen R. Alemany has been the Chief Executive Officer of CIT Group Inc. since April 1, 2016, and has been its Chairwoman since May 10, 2016. Ms. Alemany also has been the Chief Executive Officer of CIT ...
CEO Compensation Analysis
Compensation vs Market: Ellen's total compensation ($USD8.34M) is above average for companies of similar size in the US market ($USD4.72M).
Compensation vs Earnings: Ellen's compensation has been consistent with company performance over the past year.
|Chairwoman & CEO||4.25yrs||US$8.34m||0.26% $5.0m|
|Executive VP & CFO||3.25yrs||US$3.76m||0.053% $1.0m|
|President of Asset Management & Capital Markets||0.92yr||US$2.69m||no data|
|President of Commercial Finance||0.83yr||US$4.24m||no data|
|Executive VP and Head of Technology & Operations||4.08yrs||US$2.20m||0.037% $708.8k|
|Chief Technology Officer||1.75yrs||no data||no data|
|Senior VP & Head of Investor Relations||no data||no data||no data|
|Executive VP||1.33yrs||no data||0.0086% $163.8k|
|Chief Marketing & Communications Officer and Executive VP||3.58yrs||no data||0.033% $627.0k|
|Chief Human Resources Officer & Executive VP||3.92yrs||US$1.73m||0.023% $443.9k|
Experienced Management: CIT's management team is considered experienced (3.3 years average tenure).
|Chairwoman & CEO||4.25yrs||US$8.34m||0.26% $5.0m|
|Independent Director||4.17yrs||US$230.00k||0.010% $195.4k|
|Independent Director||17yrs||US$230.00k||0.014% $259.2k|
|Independent Director||10.5yrs||US$240.00k||0.025% $479.9k|
|Independent Director||10.5yrs||US$230.00k||0.021% $396.0k|
|Independent Lead Director||12.17yrs||US$255.00k||0.014% $276.4k|
|Independent Director||10.58yrs||US$265.00k||0.019% $359.6k|
|Chairman of Direct Capital Corporation||no data||no data||no data|
|Independent Director||6.42yrs||US$230.00k||0.0088% $168.8k|
|Independent Director||4.92yrs||US$245.00k||0.040% $774.9k|
Experienced Board: CIT's board of directors are seasoned and experienced ( 10.5 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.1%.
CIT Group Inc.'s company bio, employee growth, exchange listings and data sources
- Name: CIT Group Inc.
- Ticker: CIT
- Exchange: NYSE
- Founded: 1908
- Industry: Regional Banks
- Sector: Banks
- Market Cap: US$1.916b
- Shares outstanding: 98.39m
- Website: https://www.cit.com
Number of Employees
- CIT Group Inc.
- 11 West 42nd Street
- New York
- New York
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|CIT||NYSE (New York Stock Exchange)||Yes||New Common Stock||US||USD||Dec 2009|
|QIT1||DB (Deutsche Boerse AG)||Yes||New Common Stock||DE||EUR||Dec 2009|
|CITU.P||OTCPK (Pink Sheets LLC)||5.625 PFD SER B||US||USD||Nov 2019|
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 provides a range of commercial lending, leasing, and deposit products; loans comprising revolving lines of credit, term loans, unsecured loans, collateral-backed loans, asset-based loans, commercial real estate loans, and cash flow loans; and ancillary services and products, including cash management, capital markets, and advisory services primarily to small and middle market companies. This segment also offers asset management, factoring, receivable management, and secured financing services; supply chain financing, leasing and equipment financing to small businesses and middle market, and railroads and shippers. The Consumer Banking segment provides checking, savings, money market, and individual retirement accounts; time deposits and certificates of deposit; residential mortgage loans; small business administration loans; payment solutions; and fiduciary services. The company also offers leasing and advisory, and online banking services. It operates through a network of approximately 60 branches located in southern California. CIT Group Inc. was founded in 1908 and is based in New York, New York.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/07/01 23:53|
|End of Day Share Price||2020/07/01 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.