Last $9.35 USD
Change Today 0.00 / 0.00%
Volume 0.0
CARV On Other Exchanges
Symbol
Exchange
NASDAQ CM
Berlin
As of 8:10 PM 07/8/14 All times are local (Market data is delayed by at least 15 minutes).

carver bancorp inc (CARV) Key Developments

Carver Bancorp, Inc. Provides Earnings Guidance for the Fourth Quarter and the Fiscal Year Ended March 31, 2014

Carver Bancorp, Inc. provided earnings guidance for the fourth quarter and the fiscal year ended March 31, 2014. Based on the expected adjustments, the company anticipates that it will report a loss for the fiscal year ended March 31, 2014 in the amount of approximately $0.9 million, subject to tax adjustment. The company expects to report loss of $1.5 million for the fourth quarter ended March 31, 2014.

Carver Bancorp, Inc. announced delayed annual 10-K filing

On 07/01/2014, Carver Bancorp, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC.

Carver Bancorp Inc. Appoints Isaac Torres as Vice President, Assistant General Counsel and Corporate Secretary

Carver Bancorp, Inc. announced the appointment of Isaac Torres as Vice President, Assistant General Counsel and Corporate Secretary. Mr. Torres will be responsible for the legal, regulatory, compliance and corporate governance functions and will report to Deborah C. Wright, the company's Chairman and Chief Executive Officer. He previously was Assistant Vice President and Assistant Corporate Secretary of MetLife, Inc. He is a member of the New York City Bar Association, the Association of Corporate Counsel and the Society of Corporate Secretaries & Governance Professionals.

Carver Bancorp, Inc. Announces Consolidated Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2014

Carver Bancorp, Inc. announced consolidated earnings results for the fourth quarter and full year ended March 31, 2014. The company reported a net loss attributable to company of $0.4 million or basic and diluted loss per share of $0.11 for the fourth quarter of its fiscal year ending March 31, 2014, compared to net income attributable to company of $0.7 million or basic and diluted earnings per share of $0.19, for the prior year period. The primary driver of the change in result was a net increase in the loan loss provision in the current quarter, driven by the transfer of loans to held-for-sale (HFS), partially offset by an improvement in non performing loans. Interest income increased $143,000 or 2.6%, to $5.7 million in the fourth quarter, compared to $5.6 million for the prior year quarter, primarily attributable to a $23.1 million, or 6.1% increase in average loans over the prior year period. Total interest income was $5.7 million against $5.6 million reported last year. Net interest income after provision for loan losses was $4.4 million against $8.2 million reported last year. Loss before income taxes was $0.6 million against income before income taxes of $0.9 million reported last year. Negative return on average assets was 0.28% against return on average assets of 0.45% and negative return on average stockholders equity was 2.99% against return on average stockholders equity of 4.93% The company reported net income of $0.2 million or basic and diluted earnings per share of $0.06 for fiscal year 2014, compared to net income of $0.7 million or basic and diluted earnings per share of $0.18 for fiscal year 2013. The decrease in net income was driven by a higher recovery of loan losses in the prior year period, partially offset by higher net interest income and lower non-interest expense in the current year. Interest income decreased $537,000 or 2.3%, to $23.2 million compared to $23.8 million in the prior year period, with the decrease primarily attributed to a $21.8 million, or 5.4%, decrease in average loans. Total interest income was $23.2 million against $23.8 million reported last year. Net interest income after provision for loan losses was $19.7 million against $22.2 million reported last year. Income before income taxes was $0.2 million against $0.045 million reported last year. Return on average assets was 0.04% against 0.11% and return on average stockholders equity was 0.41% against 1.18% reported last year.

Carver Bancorp, Inc. Appoints Lamae Allen Dejongh to Board of Directors, Effective March 1, 2014

Carver Bancorp, Inc. announced that LaMae Allen deJongh has been appointed to the company's board of directors, effective March 1, 2014. Ms. deJongh's background includes 25 years at management consulting firm Accenture, where she worked closely with global financial institutions on business performance. Ms. deJongh was a partner at Accenture from 1987 to 2012, where she helped financial institutions increase revenues and reduce costs by providing consulting, technology and outsourcing solutions and had a leadership role in the firm's North America Capital Markets practice. Alongside her client service work, Ms. deJongh helped addressed Accenture's human capital strategy, bringing focus to the recruitment, retention, development and advancement of talent; inclusion and diversity; and corporate citizenship.

 

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CARV

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Valuation CARV Industry Range
Price/Earnings 100.0x
Price/Sales 1.3x
Price/Book 5.1x
Price/Cash Flow 149.6x
TEV/Sales NM Not Meaningful
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