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CIT Group Inc (CIT.N)

CIT.N on New York Stock Exchange

55.26USD
23 May 2018
Change (% chg)

$-0.07 (-0.13%)
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$55.33
Open
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Volume
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Latest Key Developments (Source: Significant Developments)

CIT Group Reports Q1 Earnings Per Share $0.79 From Continuing Operations
Tuesday, 24 Apr 2018 

April 24 (Reuters) - CIT Group Inc ::CIT ANNOUNCES FIRST QUARTER 2018 RESULTS.Q1 EARNINGS PER SHARE $0.74 FROM CONTINUING OPERATIONS EXCLUDING ITEMS.Q1 EARNINGS PER SHARE $0.79 FROM CONTINUING OPERATIONS.Q1 EARNINGS PER SHARE $0.74.CIT GROUP - PRELIMINARY COMMON EQUITY TIER 1 CAPITAL RATIO DECREASED TO 14.0%, & PRELIMINARY TOTAL CAPITAL RATIO INCREASED TO 16.7%, AT MARCH 31, 2018.QTRLY NET FINANCE REVENUE $391 MILLION VERSUS $417 MILLION REPORTED LAST YEAR.ALLOWANCE FOR LOAN LOSSES WAS $448 MILLION AT MAR 31, 2018, COMPARED TO $431 MILLION AT DEC 31, 2017.  Full Article

CIT Group Inc Files For Potential Mixed Shelf Offering
Saturday, 9 Dec 2017 

Dec 8 (Reuters) - CIT Group Inc ::CIT GROUP INC FILES FOR POTENTIAL MIXED SHELF OFFERING; SIZE NOT DISCLOSED - SEC FILING.  Full Article

CIT, Ocwen Agree To Resolve Claims Filed In Demand For Arbitration
Monday, 4 Dec 2017 

Dec 4 (Reuters) - Cit Group Inc ::CIT GROUP SAYS ON NOV 22, OCWEN LOAN SERVICING AGREED TO A $29.9 MILLION SETTLEMENT TO RESOLVE CLAIMS FILED IN DEMAND FOR ARBITRATION AGAINST CO ON AUG 12, 2016.CIT GROUP INC SAYS THE $29.9 MILLION SETTLEMENT WILL NOT HAVE A MATERIAL EFFECT ON CO'S FINANCIAL CONDITION OR RESULTS OF OPERATIONS - SEC FILING.  Full Article

CIT reports Q3 earnings per share $1.61
Tuesday, 24 Oct 2017 

Oct 24 (Reuters) - CIT Group Inc :CIT announces third quarter 2017 results.Q3 earnings per share $1.02 from continuing operations excluding items.Q3 earnings per share $1.64 from continuing operations.Q3 earnings per share $1.61.CIT Group Inc - ‍Remain on track to reduce annual operating expenses by $150 million by 2018​.CIT Group Inc - ‍Increased quarterly common stock dividend by 7% to $0.16 per share​.CIT Group Inc - Qtrly ‍net interest revenue $277 million versus $288 million ​.CIT Group Inc - Qtrly net finance revenue was $401 million compared to $390 million in the prior quarter‍​.CIT Group - ‍Preliminary common equity tier 1 capital ratio decreased to 14.0% at Sept. 30, 2017​.CIT Group Inc - ‍Preliminary total capital ratio decreased to 15.7% at Sept. 30, 2017​.CIT Group Inc - ‍Allowance for loan losses was $420 million at Sept. 30, 2017, compared to $426 million at June 30, 2017​.  Full Article

DyDo Group Holdings unit to acquire 80 pct stake in Merpez
Monday, 16 Oct 2017 

Oct 16(Reuters) - DyDo Group Holdings Inc <2590.T>:Says its 90 percent-owned Turkey-based unit Della Gıda Sanayi ve Ticaret A.Ş. will acquire 80 percent stake in Turkey-based company Merpez Ticaret Turizm Gıda Tarım Pazarlama Emlak İnşaat Sanayi İthalat ve İhracat Limited Şirketi(Merpez), which is mainly engaged in manufacture and sales of mineral water .Says amount of investment in Merpez for the acquisition is 23.4 million Turkish liras (725 million yen).Says the acquisition will close in late November .  Full Article

Avolon Holdings says to buy CIT Group's aircraft leasing business
Friday, 7 Oct 2016 

Avolon Holdings Ltd: Avolon's financial advisors for the transaction were UBS Investment Bank and Morgan Stanley & Co. LLC .To buy CIT Group's aircraft leasing business; deal to be funded by Avolon's cash, new equity by Bohai, deal debt financing of $8.5 billion.  Full Article

CIT says to sell CIT Commercial Air to Avolon Holdings
Friday, 7 Oct 2016 

CIT Group Inc : CIT announces definitive agreement to sell CIT Commercial Air to Avolon Holdings; received non-objection to amended capital plan . $10.0 billion purchase price represents 6.7% premium to net assets . Intends to return up to $3.3 billion of common equity to shareholders and undertake certain related liability management actions . Avolon has deposited $500 million into an escrow account with a U.S. bank which is payable to CIT at closing as part of purchase price . Selling CIT commercial air business, including operations, forward order commitments, certain assets of $11.1 billion, liabilities of $1.7 billion . Amended capital plan authorizes cit to return additional $0.325 billion of equity contingent upon issuance of a similar amount of preferred stock . Amended capital plan authorizes cit to pay common dividends totaling $64 million per year after transaction is completed . J.P. Morgan Securities LLC served as exclusive financial advisor to CIT Group . Bank of America Merrill Lynch provided capital markets structuring advice . Amended capital plan authorizes CIT to return $2.975 billion of common equity to shareholders from net proceeds of sale . Wachtell, Lipton, Rosen & Katz served as legal counsel to cit group .Transaction expected to close by end of Q1 of 2017.  Full Article

Citi Group sees FY sales of $1.0 billion
Thursday, 11 Aug 2016 

Cit Group Inc :Sees FY sales $1.0 billion.  Full Article

CIT Group says unable to file quarterly report on form 10-Q
Wednesday, 10 Aug 2016 

CIT Group Inc : Says expects to complete and file the form 10-Q on or before August 15, 2016 . In 2015 form 10-K filing, management identified material weakness in financial freedom reverse mortgage servicing business of IMB Holdco LLC . In Q2, as result of new information from process remediate material weakness, co recorded additional reserves of $230 million . Says unable to file quarterly report on form 10-Q for the period ended June 30, 2016 by the prescribed filing deadline . In preparation of financial statements for FY Dec 31, 2015, co identified errors in estimation process of hecm interest curtailment . Is redesigning the procedures and controls to remediate the material weakness, with oversight from the board of directors Source: (http://bit.ly/2b4CpM8 ) Further company coverage: [CIT.N] ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

CIT Group Q2 earnings per share $0.07
Thursday, 28 Jul 2016 

CIT Group Inc : CIT reports second quarter 2016 net income of $14 million ($0.07 per diluted share); income from continuing operations of $181 million ($0.90 per diluted share) . Q2 earnings per share $0.90 from continuing operations . Q2 earnings per share $0.07 . Q2 revenue $541 million vs I/B/E/S view of $620.9 million . Q2 earnings per share view $0.7 according to Thomson Reuters I/B/E/S . Qtrly common equity tier 1 of 13.4 percent and total capital ratio of 14.1 percent . Sets July cash dividend of $0.15 per share .Allowance for loan losses was $399 million at June 30, 2016.  Full Article

BRIEF-Cit Announces Cash Tender Offer For Up To $500,000,000 Of Its Common Stock

* CIT ANNOUNCES CASH TENDER OFFER FOR UP TO $500,000,000 OF ITS COMMON STOCK