6. Capital Bank Financial
Shares of Capital Bank Financial ( CBF) of Coral Gables, Fla., closed at $15.47 Thursday, down 9% year-to-date. The shares were down 15% since the company's initial offering on Sept. 20. The shares trade for 0.7 times tangible book value, and for 11.4 times the consensus 2014 EPS estimate of $1.36. The consensus 2013 EPS estimate is 89 cents. Capital Bank Financial was formed in 2009 by former Bank of America vice chairman Gene Taylor. The bank initial raised $865 million to acquire weak or failing banks in the Southeast. The company's 2012 ROA was 0.45% and it had $7.3 billion in total assets as of Dec. 31, having completed five acquisitions. FBR analyst Paul Miller rates Capital Bank Financial "outperform," with a price target of $22.50, estimating the company will earn 95 cents a share this year, with earnings shooting up to $1.75 a share in 2014. Miller said that his rating is based on the expectation that "management will be able to successfully execute on the company's acquisition strategy, which should provide significant return improvements to shareholders by year-end 2014." His 2014 EPS estimate for Capital Bank Financial "assumes that the company will be levered to 8% tangible common equity to assets on January 1, 2014." The company's tangible common equity ratio was 15.85% as of Dec. 31, according to Thomson Reuters Bank Insight. CBF data by YCharts
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