46.83 0.00 (0.00%)
After hours: 4:28PM EDT
|Bid||46.74 x 800|
|Ask||47.09 x 1300|
|Day's Range||45.67 - 47.24|
|52 Week Range||35.50 - 54.55|
|Beta (3Y Monthly)||1.59|
|PE Ratio (TTM)||10.54|
|Forward Dividend & Yield||1.40 (3.02%)|
|1y Target Est||N/A|
Some have more dollars than sense, they say, so even companies that have no revenue, no profit, and a record of...
It's hard to find a bargain stock with dividends growing quickly. Often they are overvalued and not worth buying. Another problem is these kind of stocks can't sustain the dividend growth. The trick to uncovering the best stocks to buy now is to search for fast-growing dividend stocks with low earnings-payout ratios. Even better if they're cheap.For example, fast growing tech companies reinvest their earnings in their business. They can't afford to pay dividends without sacrificing growth. Amazon (NASDAQ:AMZN) has never paid out a dividend but is growing very fast. The stock is not cheap as investors rely on steady growth, but its investors are willing to forgo dividends.Among the best stocks to buy now for value and income are business development companies (BDC). BDCs often raise their dividends at high rates, borrowing money or continually selling equity to finance dividend growth. Their payout ratios are high and the companies tend to be highly leveraged as a result.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBelow are five stocks selling below 10x earnings whose dividends have been rising 15% or more per year. The companies pay out less than 30% of their earnings in dividends. They reinvest the rest to maintain consistent growth. * 10 Cheap Dividend Stocks to Load Up On None of these stocks are turnarounds. They have been growing consistently for the past several years. You can rely on them to continue to increase their dividends at these rates. Best Value Stocks: CIT Group (CIT)2-Year Dividend Growth: +133%CIT Group (NYSE:CIT) is a bank holding company that has transformed itself into a vibrant, growing commercial lender after its demise in 2009. Earnings have been growing nicely as the company has divested itself of loss making divisions.In Q2 2018, CIT's dividends were at an annual rate of 64 cents. Three quarters later in Q1 2019, CIT raised the rate 56% to $1.00. And just recently in July CIT did it again - hiking the dividend to $1.40, up 40%.Analysts expect CIT to earn $4.96 this year. Its dividend represents just 28% of expected earnings. The stock now yields 3.1% and has a price-to-earnings ratio of 9.2x.CIT has been simplifying its commercial lending business, selling off non-core units, and strengthening its capital ratios. Its recent stock buybacks and dividends increases show that this is a very shareholder friendly company.Expect the company to continue to reward shareholders with consistent earnings and dividend increases. Bank of America (BAC)2-Year Dividend Growth: +50%Bank of America (NYSE:BAC), the U.S. bank holding company, has increased its quarterly dividends over the past two years from an annual rate of 48 cents to 72 cents, paid in July. In addition, BAC has been showing good operational growth, despite interest rate headwinds.BAC sports a 2.54% dividend yield and trades for just 10 times earnings per share. BAC reported Q2 earnings of 74 cents per share, which was up 17% over the past year.BAC can comfortably afford its dividend. The 72 cents annual dividend rate represents just 28% of its expected earnings per share of $2.84 for this year.BAC has a large and stable asset base with its consumer deposits and high earnings quality. It is well diversified with its Merrill Lynch brokerage arm, and an asset management business with $220 billion in assets under management. Their stable fees strengthen its lending business. * 10 Best Stocks to Buy and Hold Forever BAC has consistently grown its dividends. They rose 25% in 2018 and 20% in 2019. Expect the stock to continue to increase its earnings and dividends over the next year at a similar rate. Boyd Gaming (BYD)2-Year Dividend Growth Rate: +40%Boyd Gaming (NYSE:BYD) is a casino operator mainly focused on niche markets such as the local, non-Strip gambler in Las Vegas. Its revenue and earnings have picked up nicely over the past several years as U.S. economic growth, and disposable income, has grown.BYD has increased its dividend 40% over the past two years. This includes a 20% increase in 2018 and recently 17% increase to 28 cents on an annual basis. This represents just 16% of its expected earnings this year of $1.78 per share.BYD's dividend yield is 1.15%. There is plenty of room for the dividends to grow as Wall Street expects that the company will continue to show consistent earnings growth. As sports betting picks up speed across new states, now that the Supreme Court has OK'd it, BYD expects to participate in the growth in that arena.BYD is play on the economy continuing to steam ahead and the regional consumer's willingness to dispose of income at BYD's casinos. Expect the dividend to rise substantially over the next several years. Delta Air Lines (DAL)2-Year Dividend Growth: +32%Delta Air Lines (NYSE:DAL) has increased its dividend by over 32% over the past two years. In 2018 the dividend rose 14.8% and recently DAL set the annual rate at $1.61, up 15.1%. The stock is a general play on economic growth as well as its moves to diversity earnings.Delta's recent Q2 revenues were up 9% year-over-year. Earnings shot up an incredible 32%. Analysts are especially optimistic about the new credit card that DAL is going to co-brand in partnership with American Express (NYSE:AXP).The stock is still cheap, though. It trades at just 8.4x earnings which are expected to reach $7.10 for the year.Given that its dividend rate is $1.61, the pay-out ratio is 22%. So there is plenty of room for the company to continue to increase the dividend. Moreover, the stock sports a very attractive dividend yield of 2.71%. * 7 Great No-Load Mutual Funds for Retirement Portfolios Investors can expect DAL to consistently raise the dividend over the next several years. Citigroup (C)2-Year Dividend Growth: +59.4%Citigroup (NYSE:C) has raised its dividend almost 60% in the past two years. The dividend was up 41% in 2018 and this year Citigroup has hiked it another 13.3%.Citigroup is a play on strong economic growth in the U.S. The company has consistently produced solid revenue and earnings growth in the past 5 years.The company is well positioned to withstand any interest rate headwinds, should rates continue to fall. Deposits and loans have continued to grow despite interest rate cuts. Revenue was up 4% in the first half of 2019 and net income rose 13%.Citigroup's stock trades for less than 9x earnings per share. The dividend yield is very attractive at 3.1%. This is more than investors can make in their money market accounts.With the dividend set at $2.04, and earnings expected to be $7.64 this year, the payout ratio is only 26.7%. So there is still plenty of room for Citigroup to raise the dividend as earnings grows.Investors can expect Citigroup to raise its dividend over the next several years at a similar rate in 2019.As of this writing, Mark Hake, CFA does not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Cheap Dividend Stocks to Load Up On * The 10 Biggest Losers from Q2 Earnings * 5 Dependable Dividend Stocks to Buy The post 5 Value Stocks With Fast-Growing Dividends appeared first on InvestorPlace.
EVP and Chief Financial Office of Cit Group Inc (30-Year Financial, Insider Trades) John J. Fawcett (insider trades) bought 3,000 shares of CIT on 08/14/2019 at an average price of $41.2 a share. Continue reading...
Moody's Investors Service has affirmed the ratings of CIT Group Inc. (CIT) and its bank subsidiary CIT Bank, N.A. (CIT Bank), following the affirmation of the bank's baa3 standalone baseline credit assessment (BCA). This rating action follows the announcement of CIT's planned acquisition of Mutual of Omaha Bank, which is unrated. "CIT's ratings affirmation with a positive outlook reflects our view that the acquisition will diversify and strengthen CIT's deposit franchise, expand its commercial lending and banking lines and reduce its funding costs" said Warren Kornfeld, Senior Vice President.
CIT Group Inc. (NYSE: CIT ) and Mutual of Omaha will acquire Mutual's savings bank subsidiary, Mutual of Omaha Bank, for $1 billion. The purchase price will be comprised primarily of cash and up to $150 ...
CIT Group Inc. announced Tuesday a deal for its CIT Bank N.A. subsidiary to buy Mutual of Omaha's savings bank subsidiary, Mutual of Omaha Bank, for $1 billion in cash and stock. Under terms of the deal, the purchase will be comprised of cash and up to $150 million in CIT common stock. CIT said the deal is expected to improve deposit costs by about 20 basis points (0.2 percentage points), while its tangible common equity ratio is expected to be enhanced by 80 basis points in 2020. The deal is expected to close in the first quarter. CIT's stock, which was still inactive in premarket trading, has rallied 16.6% year to date, while the S&P 500 has advanced 15.0%.
CIT Group Inc. (NYSE:CIT) is about to trade ex-dividend in the next 4 days. This means that investors who purchase...
The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). To keep it practical, we'll...
The ratings on two principal and interest (P&I) classes, Cl. B and Cl. C, were upgraded primarily due to an increase in credit support resulting from loan paydowns and amortization, as well as an increase in defeasance. Moody's rating action reflects a base expected loss of 3.3% of the current pooled balance, compared to 2.8% at Moody's last review.
Lower credit costs and higher interest income support CIT Group's (CIT) Q2 earnings. However, lower non-interest income is an undermining factor.
CIT (CIT) delivered earnings and revenue surprises of 16.81% and -0.43%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
Market-based pricing is disappearing in US investment grade lending as Credit Default Swaps (CDS) become a less relevant measurement of risk, and lenders feel less need to buy protection against the loans as top companies continue to perform in a stable economy. The practice was introduced after the 2008 financial crisis when several blue-chip companies drew down on revolving credit facilities, shocking banks that had charged minimal interest margins on the assumption that the loans would remain undrawn. Market-based pricing was endorsed by banks such as JP Morgan and Bank of America Merrill Lynch and was designed to make significantly low pricing on investment grade loans more dynamic.
CIT (CIT) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
CIT Group Inc NYSE:CITView full report here! Summary * Perception of the company's creditworthiness is positive * Bearish sentiment is low * Economic output for the sector is expanding but at a slower rate Bearish sentimentShort interest | PositiveShort interest is extremely low for CIT with fewer than 1% of shares on loan. This could indicate that investors who seek to profit from falling equity prices are not currently targeting CIT. Money flowETF/Index ownership | NeutralETF activity is neutral. The net inflows of $4.26 billion over the last one-month into ETFs that hold CIT are not among the highest of the last year and have been slowing. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Financials sector is rising. The rate of growth is weak relative to the trend shown over the past year, however, and is easing. Credit worthinessCredit default swap | PositiveThe current level displays a positive indicator. CIT credit default swap spreads are decreasing and near the lowest level of the last three years, which indicates improvement in the market's perception of the company's credit worthiness.Please send all inquiries related to the report to email@example.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.