Citizens (CIA) shares ended the last trading session 9% higher at $5.09. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 13% loss over the past four weeks.Citizens’ fourth quarter revenues surpassed estimate as well as improved year over year. Notably, total annual premium revenue grew for the first time since 2017, banking on its growth-oriented strategic initiatives. First year premiums increased year-over-year f ...

BOULDER, Colo., March 17, 2025 /PRNewswire/ -- Peregrine Energy Solutions LLC ("Peregrine"), an integrated multi-technology clean energy platform with a focus on utility-scale storage, announced today it has closed a $53 million preferred equity commitment with Bildmore Clean Energy for a 150MW battery energy storage project that's currently under construction. Concurrently, Peregrine also secured a $115 million bridge financing facility to fund the remaining construction of the project. First Citizens Bank ...

Group 1 - First Citizens Bancshares has been underperforming compared to its peers despite generally meeting expectations [1] - The stock performance of First Citizens Bancshares has been relatively stable against bank indexes [1]

Group 1 - Citizens reported quarterly earnings of $0.07 per share, missing the Zacks Consensus Estimate of $0.10 per share, and down from $0.21 per share a year ago, representing an earnings surprise of -30% [1] - The company posted revenues of $67.64 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 3.67%, compared to year-ago revenues of $65.61 million [2] - Citizens shares have increased about 12% since the beginning of the year, while the S&P 500 has declined by -4.8% [3] Group 2 - The current consensus EPS estimate for the coming quarter is $0.09 on revenues of $58.91 million, and for the current fiscal year, it is $0.38 on revenues of $256.29 million [7] - The Zacks Industry Rank for Insurance - Life Insurance is currently in the top 30% of over 250 Zacks industries, indicating a favorable outlook for the industry [8]

Core Insights - Citizens, Inc. reported a total annual premium revenue growth for the first time since 2017, with new products and expanded distribution channels leading to over $1.1 billion in insurance issued, a 54% increase from 2023 [3][6] - The company achieved total revenues of $245.0 million for the full year 2024, up from $240.7 million in 2023, and adjusted total revenues of $247.6 million, an increase from $239.9 million [6][10] - Citizens, Inc. expects continued sales growth leading to revenue and profit growth in 2025 and stronger growth in 2026, supported by a robust global business model [5][10] Financial Performance - In Q4 2024, total revenues were $63.5 million, down from $66.9 million in Q4 2023, but adjusted total revenues increased to $67.6 million from $65.6 million [6][10] - Income before federal income tax for the full year 2024 was $15.0 million, down from $26.2 million in 2023, with adjusted income before federal income tax at $21.3 million compared to $26.6 million in 2023 [6][10] - Net income for Q4 2024 was $3.6 million, or $0.07 per fully diluted Class A share, down from $10.7 million, or $0.21 per fully diluted Class A share, in the prior year quarter [14][10] Insurance Issuance and Premiums - Insurance issued in Q4 2024 was $262.6 million, a 10% increase compared to Q4 2023, driven by new domestic products and strong international sales [7][10] - Direct first year life and accident & health (A&H) premiums increased by 84% in Q4 2024, marking the ninth consecutive quarter of year-over-year growth [7][10] - The total direct insurance in force reached over $5.2 billion by December 31, 2024, an increase from $4.9 billion in 2023 [10][6] Strategic Initiatives - The company expanded its licensing to 43 U.S. states and Washington, D.C., up from 39 at the end of 2023 [3][10] - Citizens, Inc. achieved a 72% increase in its global network of producing agents in 2024, exceeding its goal of a 20% increase [9][10] - The company introduced two new products and made significant enhancements to existing products in 2024 [9][10] Cash Flow and Assets - Positive net cash provided by operating activities was $31.9 million for the full year 2024, compared to $22.1 million in 2023 [10][16] - Total assets were reported at $1.7 billion with cash and cash equivalents of $29.3 million and no debt as of December 31, 2024 [10][16] - Book value per Class A share increased by 21% over the year to $4.21, with an adjusted book value per share of $6.14, reflecting a 5% increase [10][30]

Company Overview - Citizens (CIA) shares increased by 5.9% to $5.53 in the last trading session, with a notable trading volume, and have gained 23.7% over the past four weeks [1] - The company is expected to benefit from competitive advantages in expanding niche markets, rapid sales force expansion, and expertise in profitable product development [1] Financial Strength - Citizens has a low-risk business model and conservative balance sheet management, ensuring financial strength [2] - The company maintains a debt-free balance sheet, has access to a $20 million line of credit, and has experienced cash inflows for two decades, providing liquidity for growth initiatives [2] Earnings Expectations - Citizens is projected to report quarterly earnings of $0.10 per share, reflecting a year-over-year decline of 52.4%, with expected revenues of $65.24 million, down 0.6% from the previous year [2] - The consensus EPS estimate for Citizens has remained unchanged over the last 30 days, indicating stability in earnings expectations [4] Market Position - Citizens holds a Zacks Rank of 3 (Hold), suggesting a neutral outlook in the market [4] - In the same industry, GoHealth (GOCO) has a Zacks Rank of 3 (Hold) and is expected to report an EPS of $1.16, which is a 93.3% increase from the previous year [5]

Core Insights - First Citizens Bank and Sixth Street have launched Sixty-First Commercial Finance, a platform aimed at providing flexible capital equipment financing solutions to middle market companies [1][2]. Company Overview - First Citizens Bank is ranked among the top 20 U.S. banks and is one of the five largest banks in equipment finance, indicating a strong position in the market [3]. - Sixth Street is a global investment firm managing over $100 billion in assets, showcasing its significant financial capacity and expertise [8][9]. Joint Venture Details - Sixty-First Commercial Finance will offer mid- and large-ticket capital equipment financing ranging from $5 million to $100 million, covering various equipment asset types and industries [2]. - The joint venture will utilize the combined capabilities of First Citizens Bank and Sixth Street to enhance financing alternatives for clients, providing greater flexibility and execution certainty [3]. Product Offerings - The platform's offerings include tax leases, loans, capital leases, and progress payment financing, targeting mission-critical equipment financing needs across multiple industries such as transportation, construction, and manufacturing [4]. Leadership and Management - Ryan Berlage has been appointed as managing director and chief credit officer of the joint venture, bringing over 20 years of experience in the equipment finance industry [5]. - First Citizens Bank executives, including Kevin Ronan and Edward Moir, will oversee the operations of Sixty-First Commercial Finance, ensuring alignment with the bank's strategic goals [6]. Financial Support - Bank of America is structuring a $300 million warehouse finance facility to support the Sixty-First Commercial Finance joint venture, indicating strong financial backing for the initiative [3].

Core Insights - Citizens, Inc. has appointed Paula Guerrero as Chief Information Officer, effective immediately, promoting her from Vice President of Information Technology [1] - The company emphasizes the importance of improving processes and technology to enhance the insurance sales cycle, which is crucial for global business growth [2] - Jon Stenberg, the President and CEO, highlights Guerrero's leadership and vision as key drivers for innovation and technological advancement within the company [3] Company Overview - Citizens, Inc. is a diversified financial services company specializing in life, living benefits, and final expense insurance, operating primarily in the U.S., Latin America, and Asia [6] - The company offers products in multiple languages, including English, Spanish, Portuguese, and Mandarin, to cater to the evolving needs of its customers [6] - Citizens operates two main segments: Life Insurance, where it is a market leader in U.S. Dollar denominated life insurance, and Home Service Insurance, primarily in the U.S. Gulf coast region [6] Leadership Background - Paula Guerrero joined Citizens in 2021 and has played a significant role in transforming the company's technological infrastructure [3] - Prior to her role at Citizens, Guerrero held various positions in IT leadership, including IT Director at Baylor, Scott & White Health, and Assistant Vice President at FirstCare Health Plans [4] - Guerrero holds a Bachelor of Science in Industrial Administration with dual majors in Information Systems and Finance from Kettering University [5]

Core Insights - Citizens Bancshares Corporation has appointed Alicia V. J. Wilson to its Board of Directors, bringing extensive expertise in finance and Enterprise Risk Management to support the company's mission [1][4][5] Company Overview - Citizens Trust Bank, a subsidiary of Citizens Bancshares Corporation, is ranked 28th by S&P Global among the top 100 best-performing US Community Banks under $3 billion, celebrating over a century of service to its community [6][7] - The bank focuses on providing customized services and financial solutions to meet the evolving needs of the community, emphasizing economic equality and well-being [6] Leadership and Governance - Alicia V. J. Wilson currently serves as Chief Audit Officer and Vice President of Internal Audit for Southwire, known for her strategic oversight and growth-driving capabilities [2] - Wilson's experience in internal auditing and risk management is expected to enhance the bank's adherence to regulatory standards and corporate governance [3] - The Chairman of the Board, Ray Robinson, expressed confidence in Wilson's ability to guide the company through its growth and innovation phase [4] Strategic Focus - The bank aims to expand its offerings and strengthen its commitment to customer-centered solutions, with Wilson's leadership aligning with this mission [5] - Wilson expressed her eagerness to contribute to the company's vision of fostering financial success and inclusive growth [6]

Core Viewpoint - Citizens, Inc. has appointed Bryon Matthew Lewis as Chief Operating Officer, a newly created global position, to enhance operational efficiency and customer service [1][2]. Company Overview - Citizens, Inc. is a diversified financial services company specializing in life, living benefits, and final expense insurance, operating primarily in the U.S., Latin America, and Asia [4]. - The company offers innovative products in multiple languages, including English, Spanish, Portuguese, and Mandarin, to meet the evolving needs of its customers [4]. Leadership and Experience - Bryon Matthew Lewis, previously the Vice President of Operations, has been promoted to COO, overseeing critical functions such as Underwriting, New Business, Claims, and Corporate and Policyholder Services [1][2]. - Lewis has a strong background in driving business growth and transformation, having joined Citizens in 2021 and previously held leadership roles in health plan operations and IT [2][3]. Strategic Focus - The appointment of Lewis is part of a strategic roadmap aimed at improving operating results and sustainable growth in book value per share [2]. - The company is focused on delivering outstanding customer service, which is a key expectation from its policyholders [2].