For Immediate Release
Chicago, IL – April 14, 2010 – Zacks highlights commentary from People and Picks Trader “LesGetRich”.
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Featured Post
Two bank stocks to watch
Citizens Republic Bancorp (CRBC) and Capitol Bancorp. (CBC) are two stocks that have recently shown some significant improvement.
CBC has suspended dividends on its series A and B preferred securities but has continued to accrue the interest expense and has stated that all accrued and unpaid dividends will be due and payable upon termination of the suspension. The company can suspend dividends for a maximum of 20 quarters and we are currently in the 5th quarter. However, they can’t pay dividends on the common shares until they lift the suspension.
In the meantime, the shares are accruing $.85 and $1.05 per share respectively on shares that are currently trading around $3.25/share. If you bet on this company to survive, you could do very well in a couple of years. If it does survive, the shares will be trading above $10/share when the dividends resume.
In the meantime, you can still make 11%+ on the A series preferreds from CRBC (CTZ-A) which are selling at around $16.50/share; however, the common stock might be a better short-term investment. Their earnings report is expected on April 22.
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