CRBC - Sector: Financial---Industry: Regional Banks-Midwest

[najeebkeepsbuying]

CRBC lost 5% on Friday due to Government shutdown jitters and MM . The stock will bounce big time next week because the Government shutdown was averted, because of positive weekend news, and because the financial results for the quarter just ended will be released this month. CRBC's CEO has stated categorically that the bank will return to profitability in 3Q 2011. Banks that have returned to sustainable profitability following the financial meltdown have become multi-baggers like FITB, HBAN, others. CRBC has taken a little longer but it is almost there now.

Plus....good news keep piling up...below are some of them:


- 4/9/11 Kiplinger publishes an article listing Flint, Michigan (CRBC Headquarters) the 7th "Come Back City of 2011" because of its economic recovery and major improvement in the employment front.

http://portal.kiplinger.com/slideshow/comeback_cities/7.html#top

- 3/2/2011CRBC's CEO files with the SEC that the bank will return to sustainable profitability. Excerpt of her filing:

..."As previously announced, we expect to return to quarterly profitability by the third quarter of 2011.

Since the beginning of this very challenging cycle in 2008, our team has worked tirelessly, with a focus on the key items that would allow the bank to successfully emerge from this long difficult cycle: our clients, our capital, our liquidity, and our credit. By returning to sustainable profitability, we will be on a clear path to resuming dividend payments on our trust preferred securities and TARP Preferred Stock, reversing the allowance on our deferred tax assets, and rebuilding value for our shareholders...."


- 2/28/2011 Oppenheimer confirmed its belief that CRBC will return to profitability in 3Q 2011. Upgraded CRBC to "Outperform" and assigned it a $1.4 price target

- 2/4/2011 FRB Upgraded CRBC to "Outperform" Raises Target from $75c to $1.3 . The following is an excerpt of the analyst's opinion that led to this upgrade

"While a thin tangible common equity ratio and troubling credit metrics have kept us sidelined, we now believe the company's aggressive problem loan workout strategy and sufficient regulatory capital ratios should drive positive net income at the bank in 3Q11, in line with management guidance...Accordingly, we are raising our 2010 and 2011 EPS estimates from ($0.28) and $0.07 to ($0.22) and $0.11, respectively."

- Book Value is 1.9/share

- Strong capital ratios and liquidity are expected to improve going forward

- Credit trends in the areas the bank operates its almost 300 banking centers are improving

- Institutions are buying millions of shares either adding or starting new positions.

- insiders have been buying persistently this year

- There has been a 90% decrease in short interest since August 2010

- Recently mentioned as an acquisition candidate because of heavy M&A activity in the region where the bank operates

CRBC used to be a $30/share bank 3 years ago. Sustained profitability could bring the stock price to $10+ within 3 years without having to go through a R/S process.


About CRBC:

Citizens Republic Bancorp, Inc. operates as the bank holding company for Citizens Bank and F&M Bank—Iowa, which provide banking and financial services to individuals and businesses in Michigan, Wisconsin, Ohio, Iowa, and Indiana. The company operates in four divisions: Regional Banking, Specialty Consumer, Specialty Commercial, and Wealth Management.

The company operates 218 offices and 252 ATMs. Citizens Republic Bancorp, Inc. was founded in 1871 and is based in Flint, Michigan.

[hectorgr]

What would be the entry point ?
If no volume it could kiss the 50MA o maybe some good news coming ?