8. MB Financial

Shares of MB Financial ( MBFI) of Chicago closed at $19.50 Friday, pulling back 5% from a year earlier.

The company is one of two Chicago-area franchises mentioned by FIG Partners analyst John Rodis, who says that "there's no doubt the industry needs to consolidate," which Chicago's over 200 community banks being a prime example.

MB Financial had $9.8 billion in total assets as of Dec. 31. The company owes $196 million in TARP money

MB Financial reported 2011 net income available to common shareholders of $28.3 million, or 52 cents a share, improving from $10.1 million, or 19 cents a share, in 2010. The main factor in the operating improvement was a decline in the provision for loan losses to $120.8 million in 2011, from $246.2 million, the previous year.

The 2011 ROA was 0.39% and the ROE was 2.85%.

The shares trade for 1.4 times tangible book value, according to HighlineFI, and for 13 times the consensus 2012 EPS estimate of $1.48.

FIG Partners analyst Brian Martin rates MB Financial "Outperform," with a price target of $21, saying on Jan. 31 that the company achieved a respectable fourth-quarter return on tangible common equity of 9.3%, and that "highlights included a return to loan growth after a period of contraction, an uptick in the margin, and continued improvement in credit quality."

Martin also said that "TARP repayment is likely a near term event given advanced discussions with regulators."

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

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