CIT Group

CIT Group - aircraft leasing business ia a provider of an aircraft leasing and lease management services.

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CIT Group is a financial holding company with more than $35 billion in financing and leasing assets. It provides financing, leasing, and advisory services to its clients and their customers across more than 30 industries. CIT maintains leadership positions in middle market lending, factoring, retail and equipment finance, as well as aerospace, equipment, and rail leasing. CIT also operates CIT Bank (Member FDIC), its primary bank subsidiary, which, through its online bank BankOnCIT.com, offers a variety of savings options designed to help customers achieve their financial goals. CIT is headquartered in New York City.

CIT Group (CIT) has been struggling lately, but the selling pressure may be coming to an end soon

CIT Group (CIT) Sees Hammer Chart Pattern: Time to Buy?

NEW YORK, July 21, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that its Middle Market Banking business provided $14.3 million in financing to Depot Properties LLC. Depot Properties is the owner and operator of a large truck servicing terminal in Laredo, Texas, primarily occupied by TruckMovers.com, one of the nation's leading truck shipping contract carriers.

CIT Provides $14.3 Million Financing to Depot Properties LLC

CIT (CIT) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

All You Need to Know About CIT (CIT) Rating Upgrade to Strong Buy

NEW YORK, July 20, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced it will issue its second quarter 2021 financial results on Tuesday, July 27, 2021. The press release will be issued at 8:00 a.m.

CIT to Announce Second Quarter 2021 Financial Results

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We have narrowed down our search to five stocks that witnessed robust earnings estimate revisions within the last 30 days and have strong upside left for the rest of 2021. These are: CFG, CIT, CINF, IP and COP.

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RALEIGH, N.C. and NEW YORK, July 14, 2021 /PRNewswire/ -- First Citizens BancShares Inc. (NASDAQ: FCNCA) ("First Citizens"), the parent company of First-Citizens Bank & Trust Company, and CIT Group Inc. (NYSE: CIT) ("CIT"), the parent company of CIT Bank, N.A.

First Citizens, CIT Receive FDIC Approval Of Proposed Merger

NEW YORK, July 13, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that its Power and Energy business served as lead arranger for $68.4 million in financing for the acquisition of Crane Solar, a 150-megawatt solar farm located in Crane County, Texas, and an adjacent 25-megawatt battery development. Starwood Energy Group Global LLC ("Starwood Energy"), a leading private investment firm focused on energy infrastructure, acquired the Crane Solar assets from Consolidated Edison Development Inc. with the financing provided by CIT.

CIT Serves as Lead Arranger for Approximately $68.4 Million in Financing for Crane Solar in Texas

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NEW YORK, June 24, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that its Maritime Finance business is providing $42 million in financing for a portfolio of seven dry bulk vessels. Dynamic Bulk Holdings, a leading dry bulk shipping operator, will use the loan to refinance existing debt on its fleet of seven Handymax vessels.

CIT Provides $42 Million in Financing for Dry Bulk Fleet

NEW YORK, June 22, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that CIT Northbridge Credit, as advised by CIT Asset Management LLC, served as sole lead arranger on a $30 million credit facility to an online retailer of luxury accessories. The asset-based financing consists of a senior secured revolving credit facility.

CIT Northbridge Provides $30 Million Credit Facility to Online Luxury Accessories Retailer

NEW YORK, June 17, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that its Real Estate Finance business provided $42.8 million in financing for the acquisition of a recently built apartment complex in Tampa, Florida. The 264-unit multifamily complex known as the Lola Apartments was completed in 2018.

CIT Provides $42.8 Million Financing for Tampa Apartment Complex

NEW YORK, June 15, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that its Healthcare Finance business served as sole lead arranger on a $33.2 million loan to finance the acquisition of a medical office building in Brooklyn, New York. The class A medical office building is located at 902 Quentin Road, Brooklyn.

CIT Serves as Sole Lead Arranger on $33.2 Million Financing for Brooklyn Medical Office Building

CIT Group (CIT) is selling its aviation loan portfolio to KKR & Co.

CIT Group (CIT) Announces Sale of Aviation Lending Portfolio

NEW YORK, June 11, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced it is selling its aviation loan portfolio to KKR. This is related to a previously announced definitive agreement for a portfolio that has a committed loan balance of nearly $800 million across more than 50 loans for approximately 60 commercial aircraft.

KKR and AV AirFinance Agree to Purchase CIT Aviation Lending Portfolio

NEW YORK, June 10, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that CIT Northbridge Credit, as advised by CIT Asset Management LLC, served as sole lead arranger on a $17.4 million credit facility for Hynes Industries, a provider of custom metal solutions. Based in Youngstown, Ohio, Hynes Industries manufactures highly engineered custom metal products, including strip steel, rolled form shapes, flat wire and slotted angle systems, for customers across a broad range of industries.

CIT Northbridge Serves as Sole Lead Arranger on $17.4 Million Credit Facility for Hynes Industries

While elevated costs are expected to hurt CIT Group's (CIT) bottom line, its efforts to diversify revenues remain impressive.

Here's Why it is Best to Hold on to CIT Group (CIT) Stock Now

NEW YORK, June 8, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that its Asset-Based Lending business served as agent and sole lender on a loan and revolving credit facility for GEE Group Inc. (NYSE American: JOB), a leading provider of professional staffing services and human resources solutions. Proceeds from the financing will be used to pay off existing debt and for general working capital purposes.

CIT Serves as Sole Lender on $20 Million Credit Facility for GEE Group Inc.

CIT (CIT) reported earnings 30 days ago. What's next for the stock?

CIT (CIT) Up 2.1% Since Last Earnings Report: Can It Continue?

NEW YORK, May 27, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that its Power and Energy business served as coordinating lead arranger for approximately $200 million in financing for the 149-megawatt Big River solar power project in White County, Illinois. The project sponsor is D.

CIT Serves as Coordinating Lead Arranger for Approximately $200 Million Illinois Solar Financing

Is CIT Group (CIT) a great pick from the value investor's perspective right now? Read on to know more.

Should Value Investors Pick CIT Group (CIT) Stock Now?

NEW YORK, May 13, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that its Real Estate Finance business provided $35.7 million in financing for the construction of a new 17-story multifamily development in the Clinton Hill section of Brooklyn. The building, which will house 138 mixed-income rental units, is located at 230 Classon Avenue, on the corner of Willoughby Avenue in Clinton Hill.

CIT Provides $35.7 Million Financing for Brooklyn Apartment Development

NEW YORK, May 12, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that its Maritime Finance business served as sole lead arranger on a $34.25 million financing for a portfolio of six dry bulk vessels. The financing was arranged on behalf of Globus Maritime Limited, a leading integrated dry bulk shipping operator.

CIT Serves as Sole Lead Arranger on $34.25 Million Financing for Dry Bulk Ship Portfolio

NEW YORK, May 10, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that its Maritime Finance business served as sole lead arranger on a $22 million financing for a portfolio of five container ships. The financing was arranged on behalf of Madison Marine Corp., which is partially refinancing debt on five 4,000-TEU container ships.

CIT Serves as Sole Lead Arranger on $22 Million Financing for Container Ships

NEW YORK, May 6, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that its Healthcare Finance business served as sole lead arranger on a $17.4 million loan to finance the acquisition of a portfolio of three medical office buildings in Bakersfield, California. The medical office building portfolio includes more than 65,000 square feet, is fully leased and is located on the campus of Bakersfield Heart Hospital.

CIT Serves as Sole Lead Arranger of $17.4 Million Financing for Medical Office Buildings in Bakersfield, California

NEW YORK, May 4, 2021 /PRNewswire/ --  CIT Group Inc.  (NYSE: CIT) today announced that it has won two Stevie® Awards for business excellence in the 19th Annual American Business Awards®. The awards include a Gold award for Company of the Year in Banking and a Silver award for Corporate Social Responsibility Program of the Year.

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