6. First Midwest Bancorp
shares of First Midwest Bancorp (FMBI) of Itasca, Ill., closed at $11.16 Friday, declining 10% from a year earlier.
The company was mentioned by FIG Partners analyst John Rodis as ""one of the premier Chicago-based franchises growing both organically and through strategic acquisitions," and an attractive target for potential acquirers.First Midwest fully repaid $193 million in TARP money, in November. The company reported 2012 earnings available to common shareholders of $25.4 million, or 35 cents a share, improving from a 2012 net loss to common shareholders of $19.7 million, or 27 cents a share. Once again, the story was improved credit quality, with the provision for loan losses declining to $80.6 million in 2011 from $147.4 million, in 2010. The 2011 ROA was 0.45% and the 2010 ROE was 3.27%, according to HighlineFI. The shares trade for 1.2 times tangible book value, according to HighlineFI, and for 15.5 times the consensus 2012 EPS estimate of 72 cents. Rodis on Jan. 26 lowered his rating on First Midwest to "Market Perform," with a price target of 11, from "Outperform," since the shares had returned 20% since he initiated his coverage on the company in mid-November. The analyst said "the Company is moving in the right direction as it relates to credit" but that its fourth-quarter results "reminds us that the improvement will not be linear and one or two bigger credits can sometimes have a material impact on the results." Interested in more on First Midwest Bancorp? See TheStreet Ratings' report card for this stock.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV