StockNews.com Initiates Coverage on Carver Bancorp (NASDAQ:CARV)

Equities researchers at StockNews.com initiated coverage on shares of Carver Bancorp (NASDAQ:CARVGet Free Report) in a research note issued to investors on Saturday. The brokerage set a “sell” rating on the savings and loans company’s stock.

Carver Bancorp Trading Down 3.8 %

Shares of NASDAQ CARV opened at $1.53 on Friday. The company’s fifty day moving average is $1.72 and its 200-day moving average is $1.79. The stock has a market cap of $7.63 million, a price-to-earnings ratio of -1.53 and a beta of 1.16. Carver Bancorp has a twelve month low of $1.15 and a twelve month high of $5.36. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 2.32.

Hedge Funds Weigh In On Carver Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Carver Bancorp by 15.4% during the third quarter. Vanguard Group Inc. now owns 154,733 shares of the savings and loans company’s stock worth $619,000 after purchasing an additional 20,605 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Carver Bancorp in the 1st quarter valued at $566,000. Geode Capital Management LLC lifted its position in Carver Bancorp by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 62,020 shares of the savings and loans company’s stock valued at $254,000 after acquiring an additional 2,528 shares in the last quarter. Citadel Advisors LLC lifted its position in Carver Bancorp by 29.3% in the 4th quarter. Citadel Advisors LLC now owns 37,198 shares of the savings and loans company’s stock valued at $73,000 after acquiring an additional 8,423 shares in the last quarter. Finally, Calton & Associates Inc. bought a new stake in Carver Bancorp in the 4th quarter valued at $44,000. 18.20% of the stock is owned by institutional investors.

About Carver Bancorp

(Get Free Report)

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.

Further Reading

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