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) reported its fourth quarter and full year 2020 financial results. For Q4, the company experienced a decline in total revenue compared to the previous year, reporting $350 million, a decrease from $420 million. The net income was noted at $55 million, compared to $90 million in the same quarter of the prior year. Earnings per share (EPS) stood at $0.45, down from $0.70. Despite challenges, CIT aims for strategic growth in key segments, focusing on maintaining financial stability moving forward.
CIT Group Inc. (NYSE: CIT) has declared a quarterly cash dividend of $0.35 per common share, payable on Feb. 19, 2021, to shareholders on record as of Feb. 5, 2021. Additionally, a cash dividend of $0.3515625 per share on Series B preferred stock will be paid on March 15, 2021, to shareholders of record as of Feb. 26, 2021. This decision reflects the company's ongoing commitment to returning value to its shareholders.
CIT Group Inc. (NYSE: CIT) will release its fourth quarter 2020 financial results on January 26, 2021, at 8:00 a.m. ET. The earnings release will be available via PR Newswire and on the CIT News website. An investor presentation and financial supplements will be accessible shortly afterward on the Investor Relations website.
CIT Group Inc. (NYSE: CIT) announced a successful $56 million senior secured financing arrangement for Seamax Container Shipping II LLC. This financing is secured by four containerships operated by Seamax, which has a fleet of 12 modern containerships. CIT's Maritime Finance business played a crucial role in this deal, demonstrating agility and industry expertise. The partnership reflects the strong market demand for Seamax's services, enhancing CIT's reputation in providing tailored financing solutions for the maritime sector.
CIT Group Inc. (NYSE: CIT) announced a $69 million financing for a portfolio of solar facilities operated by Strata Solar LLC. The financing supports 23 solar assets, primarily in North Carolina, with a combined capacity exceeding 130 megawatts. This initiative is part of CIT's commitment to renewable energy, solidifying its position as a leading lender in the sector. The solar output is secured by purchase agreements, ensuring consistent demand for the renewable energy produced. CIT has been recognized as a top lender for renewable projects, reaffirming its expertise in the energy financing market.
CIT Group Inc. (NYSE: CIT) announced $42.5 million financing for the construction of the Terra At the Grove Apartment project in St. Louis, Missouri. This four-story building will offer over 300 residential units along with ground-floor retail space. Developed by Green Street, the project is notable for pursuing FitWell Certification and will include various amenities like a courtyard, outdoor pool, and walking paths. CIT's Real Estate Finance business emphasizes its ongoing partnership with Green Street.
CIT Group Inc. (NYSE: CIT) has partnered with Feeding America to provide Two Million Meals this holiday season, helping those in need amid the pandemic. This initiative involved customer and employee engagement across social media platforms. For every new equipment loan financed and eStatement sign-up, meals were donated, alongside contributions for new checking accounts at OneWest Bank. Since the partnership's inception in 2018, CIT has provided a total of Five Million Meals. Feeding America serves over 40 million people annually through its network of local food banks.
CIT Group Inc. (NYSE: CIT) announced the hiring of Vicki Jennings, Nicole Skaro, and Jolen Zeroski to enhance its Community Association Banking business. Jennings will strengthen the team in Florida, Skaro will cover the Northeast, and Zeroski will focus on Southern California and the West Coast. With extensive experience in community associations and banking, these new hires aim to boost CIT's market presence in key areas. CIT is recognized as a leader in association banking services, offering a range of financial solutions.
CIT Group Inc. (NYSE: CIT) announced its role as coordinating lead arranger for a $323 million refinancing of the Coso Geothermal power facility in Southern California. This 142-megawatt facility has been a reliable source of renewable energy for over three decades, ranking among the top three U.S. geothermal producers. The financing supports project sponsor Avenue Capital and co-owners, backed by power purchase agreements that ensure stable electricity delivery. CIT continues to gain recognition as a top lender for renewable energy projects.
