Professional
Added to YB: 2022-10-20
Pitch date: 2022-10-20
CZBS [bullish]
Citizens Bancshares Corporation
+92.4%
current return
Author Info
Cedar Creek Partners provides deep-dive research on undervalued companies. Follow on Twitter/X.
Company Info
Citizens Bancshares Corporation operates as the holding company for Citizens Trust Bank that provides various commercial banking services to individual and corporate customers.
Market Cap
$83.2M
Pitch Price
$22.08
Price Target
N/A
Dividend
2.15%
EV/EBITDA
N/A
P/E
10.32
EV/Sales
N/A
Sector
Banks
Category
value
Cedar Creek Partners new position - Citizens Bancshares (CZBS)
CZBS: Atlanta-based bank w/ 2M shares out trading at $23 after receiving $95.7M capital. Despite no quarterly earnings, Call Reports show ~$1.60 EPS in H1 2022 (inflated by $1.8M grant). Q2 EPS ex-grant ~$0.55, implying ~10x earnings run rate. Additional tailwinds beyond ECIP capital. Fund started buying in June at $12/share.
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