Carver Bancorp (NASDAQ: CARV) disclosed its quarterly earnings results on October 8, 2023, revealing a loss of $0.46 per share. This financial performance highlights significant challenges for the savings and loans company, which reported a negative net margin of 33.51% and a troubling return on equity of 117.36%.
The company’s stock experienced a decline of $0.20 on Friday, trading at $3.31 with a volume of 17,083 shares, notably below its average volume of 44,387. Over the past year, Carver Bancorp’s stock has fluctuated between a low of $1.30 and a high of $3.85. The company maintains a debt-to-equity ratio of 3.13, alongside a quick ratio and current ratio both standing at 1.00.
Market Position and Analyst Ratings
In light of these results, Weiss Ratings reaffirmed a “sell (d-)” rating for Carver Bancorp in a research note published on October 8. According to data from MarketBeat, one research analyst has rated the stock as a sell, contributing to an average rating of “sell” for the company.
Carver Bancorp operates as the holding company for Carver Federal Savings Bank, which provides consumer and commercial banking services in New York. The bank offers a variety of deposit products, including demand, savings, time deposits, and individual retirement accounts.
As the company navigates these financial hurdles, its market capitalization currently stands at $16.80 million. With a price-to-earnings ratio of -1.36 and a beta of 1.42, the company faces a challenging landscape in the competitive banking sector.
Investors and analysts will be watching closely as Carver Bancorp works to improve its financial standing and address its operational challenges in the coming quarters.
