Yahoo Finance Is it Safe to Invest in Citizens Bancshares (CZBS)?
Cedar Creek Partners, an investment management firm, released its third quarter 2023 investor letter, a copy of which can be downloaded here. Cedar Creek has achieved an average annual return of 14.5% over its 17-year history, considering fees and expenses. Since its inception, Cedar Creek has delivered cumulative returns of 1,006.6%, net of fees and expenses. As of the end of September 2023, the fund's holdings were trading at 6.2 times its earnings estimate for the upcoming year and 5.1 times expected earnings, factoring in cash at the respective businesses. Take a moment to review the fund's top 5 holdings to gain insights into their primary investment choices for 2023.
In its Q3 2023 investor letter, Cedar Creek Partners mentioned Citizens Bancshares Corporation (OTC:CZBS) and explained its insights for the company. Citizens Bancshares Corporation (OTC:CZBS) is an Atlanta, Georgia-based bank holding company with a $230 million market capitalization. Citizens Bancshares Corporation (OTC:CZBS) delivered a 30.55% return since the beginning of the year, while its 12-month returns are up by 32.23%. The stock closed at $35.90 per share on November 3, 2023.
Here is what Cedar Creek Partners has to say about Citizens Bancshares Corporation (OTC:CZBS) in its Q3 2023 investor letter:
"Citizens Bancshares (CZBS) - is an Atlanta, Georgia based bank that received $95.7 million of additional capital via the US Treasury’s Emergency Capital Investment Program (ECIP) at the end of June 2022. Citizens does not report quarterly earnings, but the bank does file quarterly Call Reports which are available on otcmarkets.com. Earnings for the first quarter of 2023 were roughly $1.70 per share. Second quarter earnings increased to roughly $1.85 per share. We believe the current annualized earnings run rate is approximately $7 per share, which is quite low in relation to its $34 share price."
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Our calculations show that Citizens Bancshares Corporation (OTC:CZBS) failed to make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Citizens Bancshares Corporation (OTC:CZBS) delivered a -12.97% return in the past 3 months. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters Q3 2023 page.
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Disclosure: None. This article is originally published at Insider Monkey.
