Citizens Republic Bancorp, Inc. (NASDAQ:CRBC)

On an uptrend....

This has been on my watchlist since it was featured by Zacks Dec 29. Today it was mentioned on bloomberg radio, small bank in Michigan turning around after drop last year. Strong earnings surprises.

very undervalued. Should rebound to $100 to get to just 1/3 of its value when it was profitable before the banking crisis, to $300/share if it ever gets back where it was. Did a 10-to-1 reverse splt should be relevant to the market.

second curve

CRBC will show their first profit in three years during the 3rd quarter. The company has rid itself of most of its bad debt. The 1 for 10 reverse split in July will make the shares tempting to institutional buyers. This stock will skyrocket before the end of FY 2011!!!

Take a look at the this link: http://www.thestreet.com/story/11122548/11/10-bank-stocks-with-up-to-55-upside.html

A few qoutes from the article:
"CEO Cathleen Nash said the company had substantially completed its "accelerated plan to resolve problem assets that we announced last October," through which Citizens Republic reduced its level of nonperforming assets by 58% over the course of two quarters.
Nonperforming assets totaled $188 million as of March 31, declining 34% from the previous quarter, and 66% from a year earlier. The ratio of nonperforming assets to total assets was 1.93%. The company charged-off $161 million in problem loans during the first quarter."

This is one of the few banks that I feel is being very aggressive in its efforts to redem itself after the housing crisis. At this level (0.87$) looks like a good buy in price. Have to keep a close eye on it though.

going up

bubabar haiku

bad loans gone, good bye

tarp needs to be repaid soon

a double from here

Detroit area regional bank. Ford, Gm, adding jobs and ramping up production right in their back yard. Auto sales projected to rise significantly this year on improving economy and pent up demand. (I'm in the auto industry) Cathleen Nash working their "accelerated loss" plan right on schedule. Projected to be profitable again by third quarter. Even if it takes a little longer, this is still going to end up. This bank isn't going anywhere. Betting with real money.

Selling at a half book and a lot of the bad loans are already written off. Risky stock, but I think it will pay off.

gut play.....

They're down, but they're far from out. Tough times means sharp declines in the "risky" banking industry today. I'm buying. Not for 1 week, not for 1 year, but for 5+ years minimum. These guys have a plan, and they're working their plan. There will be ups and downs for while, but ultimately, this will end up.

Citizens Republic is an interesting case in the financial world. It's not in the 'too big to fail' category, but it is a decent-sized Midwest regional bank. The percentage rise and fall of its stock price has been dramatic over the past few months. I don't see it as moving steadily upward until it can show that it is in the clear both in its commercial and residential lending business.

However, if CRBC can move into the clear in the next year or so, and begin to be profitable again (including repaying the rest of its TARP funds), then the bank's stock will definitely (and rightfully) appreciate. Right now its <$1 share price puts it at risk for getting de-listed, which would of course be bad. And there's no guarantee that it will survive at all.

My advice to investors would be NOT to speculate, despite the temptation based on the share price. If you do your due diligence and think CRBC is decently-positioned to climb out of the hole it is in, then invest with a long-term time horizon. I happen to think that it is eventually going to return to a solid position, and so I think it could be a very successful value investment for the patient shareholder. But any realistic assessment of it must admit that it is also risky, as are all investments in the financial world right now.

Way down, it's on the up.

I am impressed with BOD attention to details of being proactive in facing the reality of Michigan's past and immediate future. The board does not seem to worry about its press clippings while doing what it takes to remain viable!

Like many Michigan-related stocks, the value imploded during the corporate BK era over the last several years. It is now well positioned to reap the benefits and those who are patient and smart will do very well with this bank.

Once i was in ... 135% profit taken... Now i'm in again and looking for new rebound... I just love this stock, good fundamentals ... I'm living in Europe, but friends from US says it has there to growth ...

Value exceeds current price, no requirements from fdic to raise capital.

this is the mac daddy of long-term buy and hold...trends are headed in the right direction (although very low) and insiders are buying up like kids in a candy store