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.
IPO Year: n/a
Exchange: NYSE
Website: cit.com
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NEW YORK, Oct. 18, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE:CIT) today announced that its board of directors has declared a quarterly cash dividend of $0.35 per common share on its outstanding common stock. The common stock dividend is payable on Nov. 12, 2021 to common shareholders of record as of Oct. 29, 2021. The CIT board of directors also declared a semi-annual cash dividend on the Series A preferred stock of $29.00 per share payable on Dec. 15, 2021 to Series A preferred shareholders of record as of Nov. 30, 2021. In addition, the CIT board of directors declared a quar
NEW YORK, July 19, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE:CIT) today announced that its board of directors has declared a quarterly cash dividend of $0.35 per common share on its outstanding common stock. The common stock dividend is payable on Aug. 13, 2021 to common shareholders of record as of July 30, 2021. In addition, the CIT board of directors declared a quarterly cash dividend on the Series B preferred stock of $0.3515625 per share payable Sept. 15, 2021 to Series B preferred shareholders of record as of Aug. 31, 2021. About CIT CIT is a leading national bank focuse
NEW YORK, April 21, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE:CIT) today announced that its board of directors has declared a quarterly cash dividend of $0.35 per common share on its outstanding common stock. The common stock dividend is payable on May 21, 2021 to common shareholders of record as of May 7, 2021. The CIT board of directors also declared a semi-annual cash dividend on the Series A preferred stock of $29.00 per share payable on June 15, 2021 to Series A preferred shareholders of record as of May 28, 2021. In addition, the CIT board of directors declared a quarter
NEW YORK, Feb. 2, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that its Technology, Media and Telecommunications business served as co-lead arranger and joint bookrunner for a $165 million financing on behalf of iEnergizer, a leading technology services and media solutions company. The financing, which includes a $150 million term loan and a $15 million revolving credit facility, will be used to refinance existing debt and fund a dividend to shareholders. Founded in 2000, iEnergizer provides technology-enabled services to clients across a wide range of industries, including gaming, healthcare, publishing, travel, and financial services. "We worked closely with iEnergize
NEW YORK, Jan. 22, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that its board of directors has declared a quarterly cash dividend of $0.35 per common share on its outstanding common stock. The common stock dividend is payable on Feb. 19, 2021 to common shareholders of record as of Feb. 5, 2021. In addition, the CIT board of directors declared a quarterly cash dividend on the Series B preferred stock of $0.3515625 per share payable March 15, 2021 to Series B preferred shareholders of record as of Feb. 26, 2021. About CIT CIT is a leading national bank focused on empowering businesses and personal savers with the financial agility to navigate their goals. CIT Group Inc.
The Nation's First Virtual Manufactured Homes Dealership Appoints New CFO, VP-Engineering, and VP-Marketing to Meet Needs of Booming Business SAN ANTONIO, Aug 22, 2022 /PRNewswire-PRWeb/ -- Braustin Homes, the nation's first virtual manufactured home dealership, is growing their leadership team with three new positions that will provide the financial, engineering and marketing expertise needed to expand offerings to help more potential homeowners find and finance affordable housing in Texas. "The largest. generation of first-time home buyers we've ever seen is finding a shortage of homes available for $250,000 and under," says Braustin Homes CEO Alberto Piña. "While traditional housing avail
NEW YORK, Dec. 28, 2021 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P MidCap 400 and S&P SmallCap 600: Douglas Elliman Inc. (NYSE:DOUG) will be added to the S&P SmallCap 600 prior to the open of trading on Thursday, December 30, replacing Matrix Service Co. (NASD: MTRX), which will be removed from the S&P SmallCap 600 effective prior to the open of trading on Friday, December 31. S&P SmallCap 600 constituent Vector Group Ltd. (NYSE:VGR) is spinning off Douglas Elliman in a transaction expected to be completed on December 30. Post spin-off, Vector Group will remain in the S&P SmallCap 600. Matrix Service is no longer representative of the small-cap market sp
NEW YORK, Dec. 28, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE:CIT) today announced that its Maritime Finance business provided $35.5 million to finance four commercial shipping vessels operated by Greenyield Shipping LLC. Greenyield is managed by Hayfin Capital Management, one of Europe's leading alternative asset management firms, which has employed a multi-disciplined approach towards investments in the maritime sector and has over the last five years invested in more than 65 vessels across the tanker, containerships, dry bulk, LNG and offshore segments. "Deep water shippin
RALEIGH, N.C. and NEW YORK, Dec. 17, 2021 /PRNewswire/ -- First Citizens BancShares, Inc. (NASDAQ:FCNCA) ("First Citizens"), the parent company of First-Citizens Bank & Trust Company, and CIT Group Inc. (NYSE:CIT) ("CIT"), the parent company of CIT Bank, N.A., jointly announced that their previous proposal to merge the two companies has received approval from the Board of Governors of the Federal Reserve System today. The merger has previously received approvals from the Federal Deposit Insurance Corporation and the Office of the North Carolina Commissioner of Banks. Completi
RALEIGH, N.C. and NEW YORK, Dec. 17, 2021 (GLOBE NEWSWIRE) -- First Citizens BancShares, Inc. (NASDAQ:FCNCA) ("First Citizens"), the parent company of First-Citizens Bank & Trust Company, and CIT Group Inc. (NYSE:CIT) ("CIT"), the parent company of CIT Bank, N.A., jointly announced that their previous proposal to merge the two companies has received approval from the Board of Governors of the Federal Reserve System today. The merger has previously received approvals from the Federal Deposit Insurance Corporation and the Office of the North Carolina Commissioner of Banks. Completion of the proposed merger remains subject to a 15-day waiting period and the satisfaction or waiver of other cu
NEW YORK, Dec. 16, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE:CIT) today announced that its Healthcare Finance business served as sole lead arranger of $34 million to refinance the Enclaves at Chandler, a senior housing community located in Chandler, Arizona. The financing was provided to Spectrum Retirement Communities LLC, a leading developer, owner and operator of senior housing communities headquartered in Denver, Colorado. Completed in 2018, the 162-unit Enclaves at Chandler consists of 89 independent living residences, 49 assisted-living units and 24 memory care units. "T
NEW YORK, Dec. 15, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE:CIT) today announced that its Middle Market Banking business provided $6.3 million to refinance corporate office properties for Diamond Communications LLC. Diamond Communications is one of the largest private wireless infrastructure companies in the U.S., managing over 290,000 properties and structures across the country. CIT's refinancing involves term loans for corporate office properties in Springfield, New Jersey, and in Delray Beach, Florida. "Diamond Communications has flourished as one of the nation's top full
NEW YORK, Dec. 13, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE:CIT) today announced the results of its fourth annual One Million Meals1 campaign to fight hunger in partnership with Feeding America®. CIT customers, employees, social media fans and others joined in to support the donation of 1.5 million meals to people in need and helped CIT exceed its original campaign goal by 50%. "We're grateful to everyone who joined our One Million Meals campaign and helped us provide 1.5 million meals to people in need this holiday season," said CIT Chief Marketing and Communications Office
NEW YORK, Dec. 2, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE:CIT) today announced that its Power and Energy business led the refinancing of a $69 million portfolio of solar facilities owned and operated by Strata Clean Energy LLC, a leading integrated solar and storage energy service provider based in North Carolina. The portfolio consists of 21 operating solar assets located throughout North Carolina and totaling more than 130 megawatts of generation capacity. Output from the solar assets is covered by purchase agreements that ensure steady market demand for the renewable powe
NEW YORK, Nov. 29, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE:CIT) today announced that its Power and Energy business served as coordinating lead arranger on nearly $210 million in financing for a solar project in Brazoria County, Texas. Located in the Greater Houston power market Brazoria West Solar Project is a utility-scale solar project with 260 megawatts of direct current generation capacity. Construction is underway, with commercial operation planned for 2022. The project was developed by Savion, an affiliate of Macquarie's Green Investment Group, a leading developer and
The Nation's First Virtual Manufactured Homes Dealership Appoints New CFO, VP-Engineering, and VP-Marketing to Meet Needs of Booming Business SAN ANTONIO, Aug 22, 2022 /PRNewswire-PRWeb/ -- Braustin Homes, the nation's first virtual manufactured home dealership, is growing their leadership team with three new positions that will provide the financial, engineering and marketing expertise needed to expand offerings to help more potential homeowners find and finance affordable housing in Texas. "The largest. generation of first-time home buyers we've ever seen is finding a shortage of homes available for $250,000 and under," says Braustin Homes CEO Alberto Piña. "While traditional housing avail
Dun & Bradstreet Holdings, Inc. ("Dun & Bradstreet") (NYSE:DNB), a leading global provider of business decisioning data and analytics, announced today the appointment of Ellen R. Alemany to the company's Board of Directors, effective immediately. Alemany's appointment follows the Company's adoption of a resolution to increase its Board of Directors to ten members. "Ellen's well-regarded leadership and her richness of perspectives to the direction and growth of the organizations she has led will be especially valuable to the Board as we unlock additional growth opportunities," said William P. Foley II, Chairman, Dun & Bradstreet. "With vast business and financial industry experience, Ellen
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Keefe Bruyette upgraded CIT Group from Mkt Perform to Outperform and set a new price target of $62.00
Citigroup reiterated coverage of CIT Group with a rating of and set a new price target of $47.00 from $37.00 previously
Wells Fargo reiterated coverage of CIT Group with a rating of Equal-Weight and set a new price target of $38.00 from $24.00 previously