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Citizens Republic Bancorp, Inc Message Board

  • xxx_swr_xxx xxx_swr_xxx Oct 30, 2008 2:30 PM Flag

    We stopped trading with the market.

    Quite a rally last few days and we are not participating. last time the dow was here, about 10 Days ago, we were about a buck higher. Any thoughts why we aren't moving?

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    • The end of day action was well, WOW! You guys see that 957,000+ @ $2.95

    • Wood is right one with how this thing trades, stagnant all day....when the buyers come in, ie, the end of the day today, it blows out the daily shorts trying to impose their will, causing a violent spike.

      • 1 Reply to jrcollins30
      • RIGHT, AND I THINK I know who the shorts are, it all comes from the san fransico market. any one buying solar cell stuff?

        some one bought 900,000,000 on the close. can anyone find out who it was?

        that was the follow thru day and marks a fresh rally. we'll see if it has legs. have a good week end guys. that close was interesting. seems like it would be short covering, but maybe a new strong hand accumulator. in any case it gives the shorts worry. funny way though to go long. Probably a short account close out.

    • who ever is trading this now is smart. they waited till the last 5 minutes and handed shorty his hat! they all had to cover at once. very good.

      No NO buying any thing!!!!!!!!!!!!!!!!!!! no more M&A!!!!!!!!!!!!!!!!!!!!!!!!!!!

      we are in a spot to get back to normalcy. we need the gm direction to clear up. I would say they will let crysler go.......

      GREAT DAY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

    • I have previously considered hartman walking away and with a new management team and the fresh capital we already have maybe we will be the acquiring firm instead of the target.

      this is not fact or rumor for that matter but we are in a decent position and their are a lot of banks much worse off then us.

    • The next couple of quarters will be more telling. GDP didn't really seem to reflect what it is truly like out there. Should get revised lower.I expect another loss next Q, as does everyone else. These guys are being proactive right now, and I would bet we start posting profit by second Q 09. And Q1 09, might just break even.

      There will be plenty of consolidation coming, and we probably will be acquired in the next 18 mo's. If not we should be well positioned to profit from economic expansion, and paying a nice divi on the common again. IMHO

    • Good info wood - thanks.

    • IF you put the $bix index on your tracker (this is the S&P bank index) you will find CRBC trades tick by tick with the index. the index was down .7 today, crbc was down 7 cents. going back to 4 is days away not weeks, if your in at 10-20, buying here makes sense, it lowers your avg, the prf makes big sense. i can live off the $1.87 div. about 18% return plus the appreciation.

      the balance sheet is critical, bv is as high as $10, depending on how you value the goodwill, picking up 20% of it and tossing out 80% your at $10.

      we just had the worst gnp we've had in years, and CRBC lost 6 cents, thats good.

      here is what will happen,

      -gm will get more money, and turn around sales

      =CRBC will gain spread because for the 1/2 point drop in the fed prime rate.

      -2009 will be a profit of 30 cents to 80 cents.

      -the stock will float with the BIX $2-$5 for the next few months.

      -the div will be reinstated a year from now and hartman will retire.

      no big deal, this bank has been thru the great depression, 1974, 1979, 1982, 1990, and it will go thru 2008.

      this time i own a ton and won't sell it. if history repeats itself, in a few years we'll be talking about some other fear situation, BUY FEAR SELL GREED. BUT KNOW THAT BALANCE SHEET!

    • 9 days ago Hartman and team did not deliver on their guidance from July's CC of a profitable 3rd and 4th quarter (remember his CNBC appearance - very impressive). He did a complete 180 and now advises a 4th quarter loss and probable losses next year. Hartman is proving that he is as bad a salesman as he is a banker. Never give profit guidance unless you already have it booked.

      Going back to last fall when Hartman stated the dividend would not be dropped. He then dropped it 3 months later to $0.14 and finally to $0 before the first drop even sunk in.

      I see no one getting in to this stock until 1) profits return or 2) Hartman and team stop reacting and start providing solid guidance and then delivering.

      Time for a leadership change folks.

 

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