Edition:
India

CIT Group Inc (CIT.N)

CIT.N on New York Stock Exchange

31.30USD
23 Oct 2020
Change (% chg)

$1.28 (+4.26%)
Prev Close
$30.02
Open
$30.39
Day's High
$31.62
Day's Low
$30.30
Volume
668,570
Avg. Vol
582,061
52-wk High
$48.88
52-wk Low
$12.02

Latest Key Developments (Source: Significant Developments)

CIT Group Reports Qtrly Earnings Per Share Of $0.84
Friday, 16 Oct 2020 

Oct 16 (Reuters) - CIT Group Inc ::CIT ANNOUNCES THIRD QUARTER 2020 FINANCIAL RESULTS.QTRLY EARNINGS PER SHARE $0.84.QTRLY NET REVENUE $474 MILLION VERSUS $454 MILLION.Q3 REVENUE VIEW $448.1 MILLION -- REFINITIV IBES DATA.  Full Article

First Citizens Bancshares And CIT Group Announce Partnership To Create A Commercial Bank
Friday, 16 Oct 2020 

Oct 16 (Reuters) - CIT Group Inc ::FIRST CITIZENS BANCSHARES, INC. AND CIT GROUP INC. ANNOUNCE TRANSFORMATIONAL PARTNERSHIP TO CREATE A TOP-PERFORMING COMMERCIAL BANK.CIT GROUP INC - COMPANIES WILL COMBINE IN AN ALL-STOCK MERGER OF EQUALS.CIT GROUP INC - CIT STOCKHOLDERS WILL RECEIVE 0.0620 SHARES OF FIRST CITIZENS CLASS A COMMON STOCK FOR EACH SHARE OF CIT COMMON STOCK THEY OWN.CIT GROUP INC - FIRST CITIZENS STOCKHOLDERS WILL OWN APPROXIMATELY 61% OF COMBINED CO.CIT GROUP INC - COMBINED COMPANY WILL OPERATE UNDER FIRST CITIZENS NAME AND WILL TRADE UNDER FIRST CITIZENS TICKER SYMBOL FCNCA ON NASDAQ.CIT GROUP INC - FRANK HOLDING, JR., CHAIRMAN AND CEO OF FIRST CITIZENS, WILL RETAIN SAME ROLES AT COMBINED COMPANY.CIT GROUP INC - ELLEN R. ALEMANY, CHAIRWOMAN AND CEO OF CIT, WILL ASSUME ROLE OF VICE CHAIRWOMAN OF COMBINED CO.CIT GROUP INC - TRANSACTION IS TARGETED TO DELIVER IN EXCESS OF 50% EPS ACCRETION ONCE COST SAVINGS ARE FULLY PHASED IN.CIT GROUP INC - COMPANIES HAVE IDENTIFIED APPROXIMATELY 10% IN TARGETED PRO FORMA COMBINED NONINTEREST EXPENSE SAVINGS..CIT GROUP INC - ON A PRO FORMA BASIS, COMBINED CO TARGETS DELIVERING ROTCE OF APPROXIMATELY 13%.  Full Article

CIT Announce Expansion Of Credit Facility To $400 Mln For Mobilitie
Thursday, 15 Oct 2020 

Oct 15 (Reuters) - CIT Group Inc ::CIT LEADS EXPANSION OF CREDIT FACILITY TO $400 MILLION FOR MOBILITIE.CIT GROUP INC - EXPANSION OF AN EXISTING CREDIT FACILITY TO $400 MILLION BY MOBILITIE INVESTMENTS III LLC.  Full Article

CIT Group Reports Qtrly Loss Per Share $0.99
Tuesday, 21 Jul 2020 

July 21 (Reuters) - CIT Group Inc ::CIT ANNOUNCES SECOND QUARTER 2020 FINANCIAL RESULTS.QTRLY LOSS PER SHARE $0.99.QTRLY ADJUSTED LOSS PER SHARE $0.62.QTRLY TOTAL NET REVENUE $411 MILLION VERSUS $467 MILLION.Q2 EARNINGS PER SHARE VIEW $-0.50, REVENUE VIEW $427.6 MILLION -- REFINITIV IBES DATA.QTRLY TANGIBLE BOOK VALUE PER SHARE OF $49.93.QTRLY PROVISION FOR CREDIT LOSSES OF $224 MILLION, DOWN FROM $514 MILLION IN PRIOR QUARTER.CIT GROUP - TOTAL LOANS & LEASES DECREASED DURING QUARTER, PRIMARILY DUE TO DECLINE IN CUSTOMER RECEIVABLES WITHIN CO'S FACTORING BUSINESS.  Full Article

CIT Northbridge Credit Serves As Sole Lender On $20 Million Credit Facility For Marquis Construction
Wednesday, 17 Jun 2020 

June 17 (Reuters) - CIT Group Inc ::CIT NORTHBRIDGE CREDIT SERVES AS SOLE LENDER ON $20 MILLION CREDIT FACILITY FOR MARQUIS CONSTRUCTION.  Full Article

CIT Leads $225 Mln Letter Of Credit Facility For 8Minute Solar Energy To Support Its Renewable Energy Development Projects
Monday, 1 Jun 2020 

June 1 (Reuters) - CIT Group Inc ::CIT LEADS $225 MILLION LETTER OF CREDIT FACILITY FOR 8MINUTE SOLAR ENERGY TO SUPPORT ITS RENEWABLE ENERGY DEVELOPMENT PROJECTS.  Full Article

CIT Posts Quarterly Loss Per Common Share Of $6.40
Tuesday, 21 Apr 2020 

April 21 (Reuters) - CIT Group Inc ::CIT ANNOUNCES FIRST QUARTER 2020 FINANCIAL RESULTS.CIT GROUP - QTRLY NET CHARGE-OFFS OF $54 MILLION, PRIMARILY DRIVEN BY INCREASE IN OIL & GAS-RELATED LOANS ACQUIRED IN MOB ACQUISITION.CIT GROUP - RECORDED GOODWILL IMPAIRMENT OF $345 MILLION IN QUARTER, PRIMARILY RELATED TO THE ONEWEST BANK ACQUISITION.CIT GROUP - QTRLY LOSS PER COMMON SHARE $6.40.CIT GROUP - QTRLY LOSS PER COMMON SHARE, EXCLUDING NOTEWORTHY ITEMS $2.43.CIT GROUP - QTRLY PROVISION FOR CREDIT LOSSES $514 MILLION, UP FROM $23 MILLION IN PRIOR QUARTER, REFLECTING IMPACT OF CURRENT MARKET ENVIRONMENT UNDER CECL & MOB ACQUISITION.CIT GROUP - QTRLY TANGIBLE BOOK VALUE PER SHARE $51.12 DECREASED FROM PRIOR QUARTER PRIMARILY DUE TO NET LOSS IN QUARTER AND MOB ACQUISITION.CIT GROUP - QTRLY TOTAL NET REVENUE $496 MILLION VERSUS $466 MILLION.  Full Article

Cit Northbridge Credit Arranges $75 Million Credit Facility For Mvp Staffing Group
Thursday, 9 Jan 2020 

Jan 9 (Reuters) - CIT Group Inc ::CIT NORTHBRIDGE CREDIT ARRANGES $75 MILLION CREDIT FACILITY FOR MVP STAFFING GROUP.  Full Article

CIT Group Receives OCC Approval To Acquire Mutual Of Omaha Bank
Tuesday, 19 Nov 2019 

Nov 19 (Reuters) - CIT Group Inc ::CIT RECEIVES OCC APPROVAL TO ACQUIRE MUTUAL OF OMAHA BANK.CIT GROUP INC - CO EXPECTS TO CLOSE MUTUAL OF OMAHA BANK DEAL IN Q1 OF 2020.  Full Article

Cit Leads $80 Million Revolving Credit Facility For Aerfin Holdings
Tuesday, 5 Nov 2019 

Nov 5 (Reuters) - CIT Group Inc ::CIT LEADS $80 MILLION REVOLVING CREDIT FACILITY FOR AERFIN HOLDINGS.  Full Article

U.S. business borrowing for equipment falls 13% in September- ELFA

Oct 22 U.S. companies' borrowings for capital investments fell about 13% in September from a year earlier, the Equipment Leasing and Finance Association (ELFA) said on Thursday.