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Citizens Republic Bancorp, Inc Message Board

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  • mario_luis_gomes mario_luis_gomes May 21, 2008 12:02 PM Flag

    Now is time to buy, at 18 year low.

    I compared CRBC to other banks that also made a profit in the latest quarter (bpfh, cnb and few others) and I find CRBC to be the most bargain and the one with the lowest forward looking PE (currently 5.25). The other bank stock I like is BPFH, but havent bought any yet.

    I actualy like the fact that CRBC havent invested in Florida and California. Banks from these regions are posting bigger loses and a few already raised capital (cnb), I am guessing that they already got more cash because they are proberbly seing more loses ahead.

    I was encourage to read on the earnings call transcript that CRBC is anticipanting things to improve going forward. I guess thats why they havent raised more capital now. If they do raise, there will be significant dilution to the stock. CNB raise 320 million selling to investors for 8$ last month, 30% dilution, look at it now... selling for 6.60$