Welcome to our dedicated page for CIT news (Ticker: CIT), a resource for investors and traders seeking the latest updates and insights on CIT stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect CIT's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of CIT's position in the market.
CIT Group Inc. (NYSE: CIT) announced a financing arrangement of up to $58 million to refinance four container ships operated by Leonhardt & Blumberg. The financing comprises both term loan and delayed draw components, highlighting CIT's expertise in the maritime finance sector. Leonhardt & Blumberg, known for its management of over 35 feeder vessels, expressed appreciation for CIT's tailored financing solutions. This initiative is part of CIT's broader Commercial Finance division, which offers customized loans to vessel owners and operators globally.
CIT Group Inc. (NYSE: CIT) has announced it acted as the sole lead arranger for a $55.5 million financing deal for New Day Healthcare. This funding supports the home healthcare provider, which serves 7,500 patients across Missouri, Kansas, Illinois, and Texas. The financing package includes a senior secured loan, a delayed draw term loan, and a revolving line of credit. New Day Healthcare aims to expand through acquisitions, reinforcing CIT's commitment to the post-acute care market.
CIT Group Inc. (NYSE: CIT) has announced its role as joint lead arranger for a $1.16 billion financing package for PRO Unlimited Inc., a leader in Integrated Workforce Management (IWM). The financing will help facilitate PRO Unlimited's acquisition of Workforce Logiq, a provider of AI-powered workforce intelligence.
With a longstanding partnership, CIT's Asset-Based Lending business aims to enable clients to optimize their operations and reduce funding costs. This financing reflects CIT's commitment to supporting clients' growth and innovation.
CIT Group Inc. (NYSE: CIT) has launched its annual One Million Meals campaign in partnership with Feeding America to combat hunger in the U.S. The campaign aims to provide one million meals to those in need by encouraging social media engagement, where each interaction will result in the donation of ten meals. The partnership will run through Nov. 30, 2021, following last year's success of delivering two million meals during the pandemic. Around 38 million Americans experienced food insecurity in 2020, highlighting the importance of this initiative.
CIT Group Inc. (NYSE: CIT) has announced a financing agreement of $70 million with Maritime Asset Partners for the refinancing of Sterling LLC. This transaction underscores CIT's ongoing support in the maritime finance sector, as Sterling operates 11 Handysize dry bulk vessels, now solely managed by Dalex Shipping. The partnership highlights CIT's expertise and long-standing relationship with Maritime Asset Partners, marking their third collaboration together. The financing arrangement aims to strengthen maritime operations and provide tailored financial solutions.
CIT Group Inc. (NYSE: CIT) announced it arranged $67.8 million financing for the AMP NY2 community solar project in New York, comprising five solar power systems and battery storage capabilities totaling 40 megawatts and 9 megawatts respectively. The renewable energy generated will be contracted to residential and commercial customers. The financing involved collaboration with Amp Energy and New York Green Bank, underscoring CIT's strong position in the renewable energy financing sector, where it was recognized as the 2020 Renewable Energy Lead Arranger of the Year.
CIT Group Inc. (NYSE: CIT) reported its third quarter 2021 financial results on October 26, 2021. The company continues its commitment to empowering businesses and personal savers. Details regarding performance metrics, including revenue and earnings per share (EPS), are provided in the earnings release available on CIT's Investor Relations page. The firm operates in various segments, offering commercial banking solutions and consumer banking services. Investors can find a comprehensive overview of the financial data, including performance summaries, in the press release.
CIT Group Inc. (NYSE: CIT) announced its role as the sole lead arranger and administrative agent for up to $95 million in financing for the relaunch of Castle Rock Entertainment. The financing includes a $65 million senior secured credit facility, with an accordion feature for an additional $30 million. Founded by Rob Reiner in 1987, Castle Rock is known for producing iconic films like 'When Harry Met Sally' and 'The Shawshank Redemption'. The deal aims to support the expansion of this notable brand in the entertainment industry.
CIT Group Inc. (NYSE: CIT) announced on October 19, 2021, that its Equipment Finance business provided $4.4 million in financing for the acquisition of heavy equipment, primarily yard loaders and articulated dump trucks. This financing aims to assist the client in upgrading their fleet, thereby enhancing their business capabilities. Mike Jones, president of CIT's Business Capital division, expressed satisfaction with the financing, highlighting its role in supporting the client's growth and service to their customers. CIT's Equipment Finance focuses on financing for various commercial equipment sectors.
CIT Group Inc. (NYSE: CIT) announced a quarterly cash dividend of $0.35 per common share, payable on Nov. 12, 2021, to shareholders of record as of Oct. 29, 2021. Additionally, a semi-annual cash dividend of $29.00 per share on Series A preferred stock and a quarterly dividend of $0.3515625 per share on Series B preferred stock were declared, both payable on Dec. 15, 2021, to shareholders of record as of Nov. 30, 2021.
