This Day On The Street
Continue to site
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

5 Chicago Banks: How Our Picks Fared

MB Financial

Shares of MB Financial (MBFI - Get Report) of Chicago closed at $17.07 Wednesday, declining just 1% year-to-date, for the best performance among this group of five Chicago-area banks.

The company owes $196 million in TARP money.

FIG Partners analyst Brian Martin rates MB Financial "Outperform," with a $21 price target, saying in late October after the company reported third-quarter net income available to common shareholders of $17.1 million, or 31 cents a share, that "while credit improvement and good cost controls were noted, revenues continued to slide." Martin expects the company to put "some of its excess liquidity to work," by extending "the duration of the bond book somewhat and [increasing] its exposure to municipals."

The analyst said that "importantly, originations are up and the commercial pipeline is increasing," which, along with a modest improvement in fee income and a decline in loan loss provisions would feed estimated EPS of $1.45 for 2012 and $1.70 in 2013. Martin's full-year EPS estimate for 2011 is 54 cents.

Martin said that "to truly end its participation in this credit cycle and reaffirm itself as a market leader, MBFI must repay TARP," and that his forecast "suggests no new capital is required."

The shares trade for 1.2 times their Sept, 30 tangible book value of $13.78, according to SNL, and for 12 times the consensus 2012 EPS estimate of $1.46 cents, among analysts polled by FactSet.

Interested in more on MB Financial? See TheStreet Ratings' report card for this stock.

>>To see these stocks in action, visit the 5 Chicago Banks portfolio on Stockpickr.

-- Written by Philip van Doorn in Jupiter, Fla.

To contact the writer, click here: Philip van Doorn.

To follow the writer on Twitter, go to

To submit a news tip, send an email to:
Philip W. van Doorn is a member of TheStreet's banking and finance team, commenting on industry and regulatory trends. He previously served as the senior analyst for Ratings, responsible for assigning financial strength ratings to banks and savings and loan institutions. Mr. van Doorn previously served as a loan operations officer at Riverside National Bank in Fort Pierce, Fla., and as a credit analyst at the Federal Home Loan Bank of New York, where he monitored banks in New York, New Jersey and Puerto Rico. Mr. van Doorn has additional experience in the mutual fund and computer software industries. He holds a bachelor of science in business administration from Long Island University.
6 of 6

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
Only $9.95
14-Days Free
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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
TAYC $21.05 -1.27%
FMBI $18.48 0.00%
JPM $63.20 0.00%
MBFI $34.76 0.00%
PVTB $41.61 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs