CIT Group Inc.
CIT-PB
New York Stock Exchange26.70
USD
-0.25
- -
CIT Group Inc.
CIT-PB
(New York Stock Exchange)
Recent
price
26.70
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Similar Companies
- Business
- CIT Group Inc. operates as a financial holding company primarily engaged in commercial banking and consumer banking services in the United States. It provides a comprehensive range of core products and services including commercial lending, leasing, asset-based lending, factoring, equipment financing, treasury and payment services, cash management, capital markets advisory, Small Business Administration (SBA) loans, residential mortgage loans, deposit products such as checking, savings, money market accounts, and certificates of deposit. Additionally, CIT leases locomotives and railroad cars to North American rail transport and shipping companies. The company operates through its subsidiaries, including CIT Bank, N.A., which has a direct bank presence and a retail branch network mainly in Southern California. Founded in 1908 and headquartered in Livingston, New Jersey, CIT Group serves small and middle-market businesses across diverse industries including healthcare, technology, transportation, and consumer products. It also targets individual consumers with its consumer banking offerings. Recent significant corporate developments include its acquisition by First Citizens BancShares in 2022, integrating CIT as a division within First Citizens to create a top 20 U.S. bank with over $100 billion in assets. This strategic merger expanded CIT's capabilities by combining its commercial lending and direct banking strengths with First Citizens' branch services, small business banking, and wealth management offerings. Additionally, CIT has recently completed the acquisition of Edgeview Partners, an M&A advisory firm focused on small and middle enterprises, enhancing its advisory service portfolio. The company continues to strengthen its commercial banking franchise, focusing on lending, leasing, and advisory solutions tailored to small and middle-market clients throughout North America. CIT Group is recognized for its strategic initiatives to grow through acquisitions and partnerships, refining its product offerings across commercial finance, leasing, and retail banking segments, and leveraging its scale under First Citizens BancShares to deliver expanded financial services and solutions to its diverse customer base.