This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

10 Bank Stock Picks for Bottom-Fishing Investors

5. Citizens Republic Bancorp

Shares of Citizens Republic Bancorp (CRBC) of Flint, Mich., closed at $6.36 Wednesday, declining 31% from a week earlier, but up 3% year-to-date.

The shares underwent a 1-for-10 reverse split on July 5.

The company also owes $300 million in TARP money, and has deferred its last six quarterly dividend payment to the government.

Citizens Republic reported second-quarter net income applicable to common shareholders of $18.5 million, or 46 cents a share, which was its first quarterly profit in three years. The profit mainly resulted from a $17.8 million release of loan loss reserves and a $10 million income tax benefit. The second-quarter numbers compared to a net loss to common shareholders of $74.3 million, or $1.89 a share, the previous quarter and a loss of $44.7 million, or $1.27 a share, a year earlier.

KBW analyst John Barber on July 11 raised his rating for Citizens Republic to "Outperform" with a price target of $13, saying the company had "significantly improved its credit quality and differentiated itself from peers."

The shares traded for 0.7 times tangible book value as of Wednesday's market close, according to SNL Financial.

The shares trade for 4.8 times the consensus 2012 EPS estimate of $1.43 cents a share, among analysts polled by FactSet. That's the lowest forward P/E among this group of 10 bank stocks.

Three out of four analysts covering Citizens Republic rate the shares a buy, while the remaining analyst has a neutral rating.

7 of 11

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
BAC $15.81 0.00%
BPOP $34.51 0.00%
CATY $25.83 0.00%
C $52.42 0.00%
FITB $19.36 0.00%


DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs