Short Interest in Carver Bancorp, Inc. (NASDAQ:CARV) Declines By 65.0%

Carver Bancorp, Inc. (NASDAQ:CARV) saw a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 8,900 shares, a drop of 65.0% from the February 28th total of 25,400 shares. Based on an average daily volume of 10,600 shares, the short-interest ratio is presently 0.8 days. Approximately 0.2% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on Carver Bancorp in a research note on Tuesday. They set a “sell” rating for the company.

Carver Bancorp Price Performance

CARV stock opened at $1.41 on Friday. The stock has a market cap of $7.21 million, a price-to-earnings ratio of -0.73 and a beta of 1.12. The company has a debt-to-equity ratio of 3.63, a current ratio of 1.03 and a quick ratio of 1.03. The company has a 50 day simple moving average of $1.65 and a 200 day simple moving average of $1.74. Carver Bancorp has a 1 year low of $1.26 and a 1 year high of $2.39.

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

Hedge Funds Weigh In On Carver Bancorp

An institutional investor recently raised its position in Carver Bancorp stock. Renaissance Technologies LLC lifted its position in shares of Carver Bancorp, Inc. (NASDAQ:CARV) by 12.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,600 shares of the savings and loans company’s stock after purchasing an additional 6,000 shares during the period. Renaissance Technologies LLC owned about 1.05% of Carver Bancorp worth $99,000 as of its most recent filing with the Securities and Exchange Commission. 18.20% of the stock is owned by institutional investors and hedge funds.

Carver Bancorp Company Profile

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.