Guggenheim Downgrades CIT Group (CIT) to Neutral

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Go back to Guggenheim Downgrades CIT Group (CIT) to Neutral

CIT Reports Second Quarter 2015 Net Income of $115 Million ($0.66 Per Diluted Share)

July 28, 2015 6:30 AM EDT

Previously Announced OneWest Bank Acquisition Expected to Close on August 3, 2015 Received regulatory approvals; creates financial holding company with more than $65 billion in assets; Grew Commercial Assets Finance and leasing assets in Transportation & International Finance and North American Commercial Finance grew 4% from a year ago and 1% from prior quarter; Stable Net Finance Margin Net Finance Margin of approximately 4%; deposits exceed 50% of total funding; Continued Capital Return Returned over $87 million of capital to shareholders through dividends and the repurchase of 1.3 million shares.... More