Citizens Republic Bancorp (NASDAQ:CRBC) Should Improve in 2011-2012

Even though in the short term Citizens Republic Bancorp (NASDAQ:CRBC) could slightly underperform, FBR Captial improving in the second half of 2011 and into 2012.

FBR said, "We are revising our 2010 EPS estimate from ($0.46) to ($0.62) and our 2011 EPS estimate from ($0.09) to ($0.28). Additionally, we are establishing a 2012 EPS estimate of $0.07. Although we are reducing our estimates in 2010 and 2011, much of this is frontloaded, as we believe management will work to minimize losses quickly - and given this strategy, we expect the latter half of 2011 and 2012 to yield results indicative of the company's healthy pretax, pre-provision earnings base."

Citizens Republic closed Tuesday at $0.58, falling $0.01, or 1.69 percent. FBR lowered their price target on them from $1 to $0.75.

Trading volume was about 20 percent higher than its 3-month average.