NEW YORK ( TheStreet) -- Based on consensus price targets among analysts polled by Thomson Reuters, TheStreet has identified the 10 actively-traded bank stocks with the most upside potential over the next year.

TheStreet's recent look at 10 Banks with Real Earnings Improvement included some speculative names that still owed the government for bailout assistance through the Troubled Assets Relief Program, or TARP, and some that still needed to work through relatively high levels of problem loans.

This new list is even more speculative since it is based almost entirely on the mean price targets among analysts polled by Thomson Reuters, although the group is limited to holding companies with average daily trading volume of at least 100,000 share over the past three months. Some of the listed companies have significant problem assets to work though.

Still, some analysts consider them sufficiently undervalued relative to future earnings for patient investors who can handle volatility to consider as part of a balanced investing approach.

We did exclude one holding company meeting the criteria -- Capitol Bancorp ( CBC) of Lansing, Mich. -- since it reported negative regulatory capital ratios as of September 30.

Keep in mind that the consensus price targets can be skewed, since most analysts with neutral ratings on shares don't provide price targets. Out of the 10 holding companies listed below, only four have strong positive sentiment among analysts and only two have a majority of analysts rating the shares a buy. Still, even among analysts with neutral ratings have price targets indicating tremendous upside

Here's the list in ascending order by upside potential based on Friday's market close and consensus price targets.

10. Capitol Federal Financial

Company Profile

Shares of Capitol Federal Financial ( CFFN) of Topeka, Kan. closed at $23.29 Friday, declining 15% over the previous year.

Based on a quarterly payout of 50 cents, the shares have a very attractive dividend yield of 8.59%. The company was recently featured in Dan Freed's 5 Bank Stocks with Big Dividends.

Capitol Federal is organized as a mid-tier holding company, with 29% of its common shares owned by the public, and the rest controlled by a mutual holding company. The mutual holding company generally waives its dividends, only collecting payments when they're needed to cover operating expenses.

The mutual holding company structure can be confusing, because at first glance it appears the company is paying out more than it earns. For example, during the company's fiscal year ending on September 30, Capitol Federal Financial paid-out $2.29 in dividends per share, while earning 93 cents a share. But since the dividends were only paid on public shares, the company was really paying out far less than it earned, since net income came to $3.22 per public share.

Moving forward, Capitol Federal is in the midst of a "second-step conversion," where the 71% of common shares controlled by the mutual holding company will be sold to the public. Then the mutual holding company will disappear, leaving just the successor holding company, Capital Federal Financial, Inc. The initial offering will close on December 7.

Income Statement

For the fiscal year ended September 30, Capitol Federal Financial earned $67.8 million, or 93 cents a share, increasing from $66.3 million, or 91 cents a share, for fiscal 2009 and $51 million, or 70 cents a share in fiscal 2008. The company's return on average assets (ROA) for fiscal 2010 was 0.80%, compared to 0.81% the previous year and 0.65% in fiscal 2008.

The net interest margin - the difference between the average yield on loans and investments and the average cost of funds -- for fiscal 2010 was a relatively low 2.06%, but the company maintained strong asset quality and a competitive efficiency ratio of 43.99%. A bank's efficiency ratio is essentially its noninterest expense divided by its interest and noninterest income. Lower is better. Capitol Federal's efficiency ratio for the third calendar quarter of 48.32% was only bested by one other company listed here, Intervest Bancshares ( IBCA), which had an efficiency ratio of 43.43%.

Balance Sheet

Total assets were $8.5 billion as of September 30. Main thrift subsidiary Capitol Federal Savings Bank was strongly capitalized with a Tier 1 leverage ratio of 9.77% and a total risk-based capital ratio of 23.80%, , greatly exceeding the 5% and 10% required for most banks to be considered well-capitalized by regulators. The nonperforming assets ratio - including loans past due 90 days, nonaccrual loans and repossessed assets -- was a low 0.45%. The holding company's tangible common equity ratio was a very strong 11.33% as of September 30, according to SNL Financial.

Stock Ratios

The shares trade for 1.8 times tangible book value according to SNL and 7.2 times the $3.22 per public share the company earned during fiscal 2010. Forward P/E ratios will be a far simpler matter once the second-step conversion is completed.

Analyst Ratings

Out of five analysts covering Capitol Federal Financial two rate the shares a buy, while the other three recommend investors hold the shares.

9. Regions Financial

Company Profile

Shares of Regions Financial of Birmingham, Ala. ( RF - Get Report) closed at $5.25 Friday, down 9% over the previous year and 19% over the previous month, with the stock taking a beating after Standard & Poor's downgraded its counterparty rating for the company below investment grade, to BB+/B from BBB-/A-3. S&P said it appeared Regions would post losses for longer than the agency had previous expected, which could put pressure on capital ratios.

Following the resignation on November 15 of chief risk officer Bill Wells, DBRS also downgraded Regions Financial's senior debt to BBB from BBB (high) with a negative outlook, saying that "the departure of the Chief Risk Officer without the benefit of transition reflects poorly on management," and that there was "a heightened risk of additional credit charges with the incoming chief risk officer."

A report by Credit Insights included a capital raise and a merger with BB&T ( BBT) among possible strategies for Regions Financial.

Income Statement

The company reported a third-quarter net loss to common shareholders of $209 million, or 17 cents a share, compared with a loss of $135 million, or 11 cents a share during the second quarter and a net loss to common shareholders of $437 million, or 37 cents a share, in the third quarter of 2009.

The third-quarter net loss to common shareholders includes dividends of $54 million on preferred shares, including $3.5 billion held by the U.S. Treasury for bailout assistance through TARP.

Following the trend for many large bank holding companies, the improved results from a year earlier reflected a decline in the provision for loan losses to $760 million from $1 billion. Net charge-offs - loan losses less recoveries - during the third quarter were also $760 million.

One bright spot in Regions Financial's third-quarter results was a 21% increase in pre-provision net revenue from a year earlier, as detailed in at 10 Banks with Real Earnings Improvement.

Balance Sheet

Regions had $133.5 billion in total assets as of September 30 and nonperforming assets - including loans past due 90 days and nonaccrual loans (less government-guaranteed balances) and repossessed real estate - were 3.70% of total assets, increasing from 3.65% in June and 2.78% in September 2009. The annualized ratio of net loan charge-offs to average loans during the third quarter was 3.52% and loan loss reserves covered 3.77% of total loans as of September 30.

According to the company's third-quarter regulatory filing with the Federal Reserve, its Tier 1 leverage ratio was 9.24% and the total risk-based capital ratio was 15.96% as of September 30. The company reported a tangible common equity ratio of 6.13%.

Stock Ratios

The shares trade for 0.8 times tangible book value according to SNL Financial. Despite the doom and gloom from the ratings agencies, the consensus among analysts polled by Thomson Reuters is for the company to return to profitability during the third quarter of 2011, earning seven cents a share next year.

Based on the consensus earnings estimate of 61 cents a share for 2012, the forward price-to-earnings ratio is 8.6.

Analyst Ratings

Out of 20 analysts covering Regions Financial, only two rate the shares a buy, while 16 analysts have hold ratings and two recommend investors sell the shares. Jefferson Harralson of Keefe, Bruyette & Woods has a "market perform" or neutral rating on Regions, but his price target of $8 would be a 52% return from Friday's close.

8. Synovus Financial

Company Profile

Shares of Synovus Financial ( SNV - Get Report) of Columbus Georgia closed at $1.96 Friday, up 11% over the previous year but down 16% over the previous month,

Income Statement

Synovus reported a third-quarter net loss to common shareholders of $195.8 million, or 25 cents a share, improving from a loss of $242.6 million, or 36 cents a share, the previous quarter and a loss of $453.8 million, or $1.32 a share, a year earlier. The earnings improvement was mainly the result of a decline in the provision for loan losses to $239 million from $298.9 million the previous quarter and $496.5 million a year earlier.

Also contributing was a large year-over-year increase in pre-provision net revenue as the company's expenses on repossessed real estate declined to $50.9 million during the third quarter from $101.4 million during the third quarter of 2009.

Balance Sheet

Synovus had $31 billion in total assets as of September 30, with a nonperforming assets ratio of 5.08%, rising from 4.90% the previous quarter and 5.17% a year earlier. The third-quarter net charge-off ratio was 4.07% and reserves covered 3.66% of total loans as of September 30.

The company owes $968 million in TARP money and its Tier 1 leverage ratio was 9.80% and its total risk-based capital ratio was 16.70% as of September 30. Synovus reported a tangible common equity ratio of 7.26% as of September 30, which Christopher Marinac of FIG Partners said was "still strong."

Stock Ratios

The shares trade for 0.7 times tangible book value according to SNL Financial and 10.3 times the consensus earnings estimate of 19 cents a share for 2012.

Analyst Ratings

Out of 22 analysts covering Synovus, six rate the shares a buy, 14 recommend investors hold the shares and two analysts recommend selling the shares.

Following the company's third-quarter earnings release on October 27, Christopher Marinac - who has a neutral rating on Synovus -- said in a report that the shares carried "at least $3.00 of franchise value," after "after taking a credit mark of about $850 million of ongoing credit losses through 2011, adding back a deposit premium just under 4%, and using Tier 1 Common (excluding all TARP & Trust Preferred capital)." That implies quite a bit of upside for investors.

7. Old Second Bancorp

Company Profile

Shares of Old Second Bancorp ( OSBC) of Aurora, Ill. close at $2.18 Friday, declining 64% over the past year but returning 12% over the previous month.

The company announced back in August that it was suspending dividends on trust-preferred securities and on the $73 million in preferred shares held by the government for TARP assistance.

At the end of the third quarter, main subsidiary Old Second National Bank was out of compliance with an agreement with the Office of the Comptroller of the Currency to maintain a Tier 1 leverage ratio of at least 8.75% and a total risk-based capital ratio of at least 11.25%. These ratios were 8.38% and 11.41% as of September 30.

In addition to the dividend deferments, the holding company is focusing on shrinking its balance sheet in order to boost capital ratios.

Income Statement

For the third quarter, Old Second Bancorp reported a net loss to common shareholders of $1.2 million, or 9 cents a share, compared to a net loss of $24.5 million, or $1.75 a share, the previous quarter and net income to common shareholders of $351 thousand, or three cents a share, a year earlier. The third-quarter provision for loan losses declined to $11.8 million from $44.6 million in the second quarter, although it increased from $9.7 million in the third quarter of 2009.

Net charge-offs during the third quarter totaled $24.6 million during the third quarter, so the company "released" $12.8 million in reserves during the third quarter.

Also contributing the improved third-quarter results were gains of $3.3 million on mortgage loan sales and one-time items including a $2.6 million legal judgment and a life insurance benefit of $938 thousand.

Balance Sheet

Total assets were $2.3 billion as of September 30, declining from 15% from a year earlier. The nonperforming assets ratio - again including loans past due 90 or more days , nonaccrual loans (excluding government-guaranteed balances) and repossessed real estate - was a very high 11.59 % as of September 30.

The annualized ratio of net charge-offs to average loans during the third quarter was 5.25%, which was high when compared to the ratio of loan loss reserves to total loans, which was 3.73% as of September 30.

Underlining the need for capital was a tangible common equity ratio of 3.75% as of September 30, according to SNL Financial.

Stock Ratios

The shares trade for 0.4 times tangible book value according to SNL Financial, which reflects investor fears of coming dilution if the company raises common equity.

Analyst Ratings

All five analysts covering Old Second Bancorp have neutral ratings on the shares, although the mean price target of $3.33 is 53% higher than Friday's closing price. Brian Martin of FIG Partners has a neutral rating on the shares, saying on November 1, when the stock closed at $1.89, that the shares were "priced like a call option on survivability."

6. Marshall & Ilsley

Company Profile

Shares of Marshall & Ilsley closed at $4.76 Friday, declining 12% over the previous year.

Following the company's third-quarter earnings release, Standard & Poor's downgraded its counterparty rating for Marshall & Ilsley below investment grade, saying the bank's capital was "marginally adequate."

Income Statement

Marshall & Ilsley reported a third-quarter net loss to common shareholders of $169.2 million, or 32 cents a share, improving from a loss of $173.8 million, or 33 cents a share, the previous quarter and a loss of $248.4 million, or 68 cents a share, a year earlier. The third-quarter provision for loan losses was $431.7 million, declining from $439.9 million in the second quarter and $578.7 million in the third quarter of 2009.

With net charge-offs totaling $560.3 million during the third quarter, the company released $128.6 million in reserves, following the trend for several of the largest U.S. banks, including Citigroup ( C - Get Report), which saw its loan loss reserves decline by $2.5 billion.

Balance Sheet

Total assets were $52 billion as of September 30 and the nonperforming assets ratio was 3.91%, improving from 4.18% the previous quarter and 4.46% a year earlier. The third-quarter net charge-off ratio was 5.52%, although over a third of the charge-offs were represented by one credit "associated with the hospitality industry." The ratio of loan loss reserves to total loans was 3.49% as of September 30.

Marshall & Ilsley owes $1.7 billion in TARP money. The company's Tier 1 leverage ratio was 9.07% and its total risk-based capital ratio was 13.92%. The tangible common equity ratio was 8.19% according to SNL Financial.

Stock Ratios

The shares trade for 0.6 times tangible book value according to SNL and 9 times the consensus earnings estimate of 53 cents a share for 2012.

Analyst Ratings

Out of 20 analysts covering Marshall & Ilsley, six rate the shares a buy, 13 have hold ratings and one analyst recommends investors sell the shares. Marty Mosby of Guggenheim Securities has a buy rating on M&I with an $8 target and said in a report on October 21 when the shares closed at $6.16 that the stock had the "largest discount to tangible book value among large cap banks," and that the "sheer discount" to his firm's "expected trough in tangible book value at around $7.50" warranted consideration of the shares.

5. Popular, Inc.

Company Profile

Shares of Popular, Inc ( BPOP - Get Report) of Hato Rey, Puerto Rico, closed at $2.83 Friday, rising 10% over the previous year.

According to the Federal Deposit Insurance Corp., main subsidiary Banco Popular de Puerto Rico had the leading deposit market share among banks operating in the territory, with 38% of deposits among FDIC-insured institutions. A year earlier, before the company purchased the failed Westernbank Puerto Rico, Banco Popular's market share was 27%.

Firstbank Puerto Rico (a subsidiary of First BanCorp ( FBP - Get Report), listed below) was in second place with a 21% market share as of June 30. The out-of-territory bank with the largest market share in Puerto Rico was Citibank, NA.

Income Statement

For the third quarter, Popular reported net income to common shareholders of $494.5 million, or 48 cents a share, compared to a net loss of $247.5 million, or 29 cents a share during the second quarter and net income to common shareholders of $595.6 million, or $1.40 a share, during the third quarter of 2009.

The third-quarter results included an after-tax gain of $531 million on the completed sale of 51% of Popular's Evertec subsidiary. Interest income was also boosted by a $78.5 million discount accretion on FDIC-covered loans acquired from Westernbank.

The second-quarter loss included a one-time $192 million dividend on preferred shares, which were issued pending shareholder authorization to issue more common shares. After shareholder approval in May, the new preferred shares were all converted to common, and the company raised a total of $1.15 billion in capital during the quarter.

During the third quarter of 2009, Popular converted the $935 million in preferred shares held by the U.S. Treasury for TARP assistance to trust-preferred shares. Although the company is still paying the government 5% on the TARP money, the conversion lowered the Popular's accumulated deficit by $485 million because Popular assumed a discount rate of 16%, taking into account the much greater dividend rate it would pay if it had offered trust-preferred shares in the open market.

Calling the company's results "another quarter of steady progress on the credit front and improvement in pre-provision earnings," Adam Barkstrom of Sterne Agee reiterated his buy rating for Popular's shares, and $5 price target.

Balance Sheet

Total assets were $40.8 billion as of September 30, with a nonperforming assets ratio of 6.94%, compared to 6.55% the previous quarter and 6.47% a year earlier. Nonperformers peaked at 7.43% of total assets in March.

The net charge-off ratio for the third quarter was 3.81% and reserves covered 4.74% of total loans as of September 30.

Popular's Tier 1 leverage ratio was 9.99% and its total risk-based capital ratio was 16.16% as of September 30, and the tangible common equity ratio was 8.31%, second on this list only to Capital Federal Financial, and reflecting the significant boost from the Evertec sale.

Stock Ratios

The shares trade for 0.9 times tangible book value according to SNL Financial and 14.9 times consensus earnings estimate of 19 cents a share for 2011. The forward P/E drops to 7.3 based on the consensus 2012 earnings estimate of 39 cents a share.

Analyst Ratings

Analysts are enthusiastic about Popular's prospects, with six out of seven rating the shares a buy, while the remaining analyst recommends investors hold the shares. Based on the consensus target of $4.57, the shares have 61% upside from Friday's close.

4. Bank of America

Company Profile

Shares of Bank of America ( BAC - Get Report) closed at $11.12 Friday, declining 30% over the previous year.

Analyst sentiment for the company is strong, and based on the consensus price target of $18.36, the shares have 65% upside potential over the next year.

Income Statement

Bank of America reported third-quarter net loss of $7.3 billion, or 77 cents a share, compared to net income of $3.1 billion, or 27 cents a share, the previous quarter and a net loss of $1 billion, or 26 cents a share, during the third quarter of 2009.

Third-quarter 2010 results included a non-cash goodwill impairment charge of $10.4 billion at the company's FIA Card Services subsidiary, which was cited by the FDIC in its quarterly banking profile as placing a huge drag on the industry's consolidated earnings.

Following the trend for most of the largest U.S. holding companies, Bank of America's third-quarter provision for credit losses declined to $5.4 billion from $8.1 billion in the second quarter and $11.7 during the third quarter of 2009. Loan loss reserves declined $1.7 billion during the third quarter, which matched JPMorgan's ( JPM) reserve release, and was only exceeded by Citigroup's $2.5 billion.

Noninterest income declined moderately from a year earlier, as a decline in trading account profits and a significant decline in account service charges was partially offset by an increase in credit card income.

Following the third-quarter announcement, Marty Mosby lowered his 2011 earnings estimate slightly to $1.63 a share from $1.66, and his 2012 earnings estimate to $2.43 a share from $2.70, "as net interest margin compression begins to take its toll on earnings due to the lingering low interest rate environment." Mosby pointed out that excluding the goodwill impairment charge, Bank of America would have earned $3.1 billion during the third quarter, or 27 cents a share.

Because of the "headline news risk" from the mortgage-related lawsuits and potential securities repurchase expense, Mosby lowered his price target for Bank of America's shares to $14.50, but that would still be 29% return from Friday's close.

Balance Sheet

Bank of America had the largest balance sheet for any U.S. bank as of September 30, with $2.3 trillion in total assets. The company's nonperforming assets ratio was 2.40% and its third-quarter net charge-off ratio was 2.92%. Reserves covered 4.44% of total loans as of September 30, making it appear that the company will continue seeing a boost to earnings from significant releases of loan loss reserves.

Stock Ratios

The shares trade for 0.9 times tangible book value according to SNL Financial and 7.6 times the consensus 2011 earnings estimate of $1.46 a share. The forward P/E is only 5.5 when based on the consensus 2012 earnings estimate of $2.02 a share.

Analyst Ratings

Out of 25 analysts covering Bank of America, 17 rate the shares a buy, while the other eight recommend investors hold the shares.

3. Intervest Bancshares

Company Profile

Intervest Bancshares of New York has seen its stock decline 31% over the past year, closing at $2.25 Friday.

Income Statement

For the third quarter, Intervest reported a net loss to common shareholders of $661 thousand, or 7 cents a share, following a second-quarter net loss of $51.9 million, or $6.02 a share, and positive earnings to common shareholders of $342 thousand, or 4 cents a share, during the third quarter of 2009.

During the second quarter, the company sold $207 million in nonperforming assets at a heavily discounted price of $121.5 million.

The third-quarter provision for loan losses declined to $1.6 million from $87.5 million in the second quarter and $2.4 million a year earlier.

Balance Sheet

Intervest had $2.1 billion in total assets as of September 30, with a nonperforming assets ratio of 4.60% rising from 3.00% the previous quarter, since the company was required to reclassify about $21 million in restructured credits as nonaccrual loans "based on regulatory guidance." In the company's third-quarter earnings release, chairman Lowel Dansker said the restructured credits were continuing to "pay as agreed under their renegotiated terms."

Intervest completed a $22.8 mil common equity raise in October, which Michael Sarcone of Sandler O'Neill estimated increased the company's tangible common equity ratio to 7.6%. The company said it would use some of the proceeds of the capital raise to add capital to its Intervest National Bank subsidiary, which as of September 30 had reported a Tier 1 leverage ratio of 8.42%, missing the elevated level of 9% required per an agreement with the OCC.

Stock Ratios

The shares trade for just 0.15 times the September 30 tangible book value of $15.38, according to SNL Financial.

Analyst Ratings

Michael Sarcone of Sandler O'Neill is the only analyst covering Intervest and he rates the shares a buy, with a $4 price target. That would be a 78% return from Friday's close. In a Nov. 19 report, Sarcone said that although nonperforming assets are "still elevated," his firm believes that "the discount to book value is excessive."

2. Citizens Republic Bancorp

Company Profile

Shares of Citizens Republic Bancorp ( CBRC) of Flint, Mich. closed at 59 cents Friday, flat over the past year.

When the company announced its third-quarter results, CEO Cathleen Nash said the company planned to accelerate its disposal of problem assets in order to return to profitability faster, "bringing forward" about one year's worth of loan losses over the next two quarters.

Income Statement

For the third quarter, Citizens Republic reported a net loss to common shareholders of $67.9 million, or 17 cents a share, following a second-quarter loss of $44.7 million, or 11 cents a share. For the third quarter of 2009, the company reported a net loss to common shareholders of $62.1 million, or 48 cents a share.

During the third quarter, the provision for loan losses increased to $89.6 million from $70.6 million the previous quarter and $77.4 million a year earlier. Net charge-offs increased to $87.4 million from $71.2 million in the second quarter and $71.3 million a year earlier. During the third quarter of 2010, $18.8 million in charge-offs resulted from a transfer of nonperforming residential loans to held-for-sale.

Following the earnings release, Eileen Rooney of KBW reiterated her "market perform" or hold rating on the shares, with a $1 price target, noting the "residential mortgage bulk sale expected in 4Q."

Balance Sheet

Citizens Republic had $10.6 billion in total assets as of September 30 and a nonperforming assets ratio of 3.87%, improving from 4.10% the previous quarter, mainly as a result of the transfer of nonperforming residential loans to held-for-sale and the associated write-down. A year earlier, the NPA ratio was 4.86%.

The company owes $300 million in TARP money, on which it has deferred its last three dividend payments to the government. Citizens Republic's Tier 1 leverage ratio was 8.50% and its total risk-based capital ratio was 13.80% as of September 30. According to SNL Financial, the tangible common equity ratio was 5.34%.

Stock Ratios

The shares trade for 0.4 times tangible book value, reflecting investor concerns about the possibility of dilution from a capital raise. The shares trade for just 4.2 times the consensus earnings estimate of $14 cents a share for 2012.

Analyst Ratings

Out of four analysts covering Citizens Republic, one has a buy rating and the other three recommend investors hold the shares.

1. First BanCorp

Company Profile

Shares of First BanCorp of San Juan, Puerto Rico, closed at 26 cents Friday, down 84% over the previous year.

Even though sentiment among analysts isn't strong, the consensus price target of 70 cents a share indicates that investors interested in a highly-speculative play could make a nice return on First Bancorp. Bain Slack of KBW has a market perform or neutral rating on the shares, and his price target is 75 cents.

Income Statement

First Bancorp reported third-quarter net income to common shareholders of $363.4 million, or 28 cents per diluted share, compared to a second-quarter net loss to common shareholders of $96.8 million, or $1.05 a share, and a loss of $174.7 million, or $1.89 a share in the third quarter of 2009.

The third-quarter 2010 profit reflected $440.5 million in gains from the heavily discounted conversion in August of $487 million in preferred shares to common shares.

In July, First Bancorp exchanged the $400 million in preferred shares held by the U.S. Treasury Department for TARP to $424.2 million in mandatorily convertible preferred shares.

First BanCorp still hasn't priced a pending offering of $500 million in common shares, which needs to be completed before the Treasury's new convertible shares can be converted to common shares.

Balance Sheet

Total assets were $16.7 billion as of September 30 and the nonperforming assets ratio was 10.12%, increasing from 9.78% the previous quarter and 9.07% a year earlier. The third-quarter net charge-off ratio was 3.71% and reserves covered 4.79% of total loans as of September 30.

The Tier 1 leverage ratio was 8.34% and the total risk-based capital ratio was 13.26% as of September 30, exceeding the elevated levels of 8% and 12% required per regulatory agreements.

After First BanCorp announced its third-quarter results, Adam Barkstrom of Sterne Agee said in a report that "Capital uncertainties remain the focus and will likely keep the shares around current levels regardless of quarterly results until the last piece of the capital plan is completed."

Stock Ratios

The shares trade for just 0.1 times tangible book value, according to SNL Financial.

Analyst Ratings

Out of six analysts covering First BanCorp, just one has a buy rating, four recommend investors hold and one analyst recommends investors sell the shares.

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

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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 TheStreet.com 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.