Carver Bancorp (NASDAQ:CARV) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Carver Bancorp (NASDAQ:CARV) in a research note issued to investors on Friday. The firm issued a sell rating on the savings and loans company’s stock.

Carver Bancorp Trading Down 5.2 %

CARV stock opened at $1.37 on Friday. The company has a debt-to-equity ratio of 3.63, a current ratio of 1.03 and a quick ratio of 1.03. Carver Bancorp has a 1-year low of $1.30 and a 1-year high of $2.39. The business has a 50 day simple moving average of $1.51 and a two-hundred day simple moving average of $1.69. The company has a market capitalization of $6.98 million, a price-to-earnings ratio of -0.71 and a beta of 1.11.

Carver Bancorp (NASDAQ:CARV) last posted its earnings results on Thursday, February 13th. The savings and loans company reported ($1.09) earnings per share for the quarter. Carver Bancorp had a negative net margin of 24.99% and a negative return on equity of 59.15%.

Hedge Funds Weigh In On Carver Bancorp

A hedge fund recently raised its stake in Carver Bancorp stock. Renaissance Technologies LLC raised its position in shares of Carver Bancorp, Inc. (NASDAQ:CARV) by 12.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,600 shares of the savings and loans company’s stock after acquiring an additional 6,000 shares during the period. Renaissance Technologies LLC owned approximately 1.05% of Carver Bancorp worth $99,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 18.20% of the company’s stock.

About Carver Bancorp

Carver Bancorp, Inc operates as the holding company for Carver Federal Savings Bank that provides consumer and commercial banking services for consumers, businesses, non-profit organizations, and governmental and quasi-governmental agencies primarily in New York. It accepts various deposit products, including demand, savings, and time deposits; passbook and statement accounts, and certificates of deposit; and individual retirement accounts.