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

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

Carver Bancorp Price Performance

Shares of NASDAQ CARV opened at $1.44 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 3.63. The company has a market capitalization of $7.36 million, a price-to-earnings ratio of -0.75 and a beta of 1.26. Carver Bancorp has a twelve month low of $1.30 and a twelve month high of $2.39. The business has a 50 day simple moving average of $1.39 and a 200-day simple moving average of $1.63.

Institutional Trading of Carver Bancorp

A hedge fund recently raised its stake in Carver Bancorp stock. Renaissance Technologies LLC lifted its holdings in shares of Carver Bancorp, Inc. (NASDAQ:CARV) by 12.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 53,600 shares of the savings and loans company’s stock after buying an additional 6,000 shares during the period. Renaissance Technologies LLC owned 1.05% of Carver Bancorp worth $99,000 at the end of the most recent reporting period. 18.20% of the stock is currently owned by institutional investors and hedge funds.

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.