NasdaqCM:CARV

Stock Analysis Report

Executive Summary

Carver Bancorp, Inc. operates as the holding company for Carver Federal Savings Bank, a federally chartered savings bank that provides consumer and commercial banking services for consumers, businesses, and governmental and quasi-governmental agencies primarily in New York.

Risk Analysis

Earnings have declined by -29.9% per year over past 5 years

Does not have a meaningful market cap ($9M)

Currently unprofitable and not forecast to become profitable over the next 3 years



Snowflake Analysis

Excellent balance sheet with weak fundamentals.


Similar Companies

Share Price & News

How has Carver Bancorp's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CARV has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

3.5%

CARV

-2.1%

US Mortgage

0.9%

US Market


1 Year Return

-31.0%

CARV

6.8%

US Mortgage

20.0%

US Market

Return vs Industry: CARV underperformed the US Mortgage industry which returned 7.3% over the past year.

Return vs Market: CARV underperformed the US Market which returned 20.1% over the past year.


Shareholder returns

CARVIndustryMarket
7 Day3.5%-2.1%0.9%
30 Day-1.2%-1.6%1.4%
90 Day-10.9%-1.9%8.8%
1 Year-31.0%-31.0%9.3%6.8%22.5%20.0%
3 Year-18.2%-18.2%19.3%10.9%49.9%40.3%
5 Year-55.5%-55.5%60.9%43.1%73.2%54.1%

Price Volatility Vs. Market

How volatile is Carver Bancorp's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Carver Bancorp undervalued compared to its fair value and its price relative to the market?

2.03x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate CARV's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate CARV's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: CARV is unprofitable, so we can't compare its PE Ratio to the Mortgage industry average.

PE vs Market: CARV is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate CARV's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: CARV is overvalued based on its PB Ratio (2x) compared to the US Mortgage industry average (1.1x).


Next Steps

Future Growth

How is Carver Bancorp forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

6.4%

Forecasted Banks industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Carver Bancorp has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Carver Bancorp performed over the past 5 years?

-29.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CARV is currently unprofitable.

Growing Profit Margin: CARV is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: CARV is unprofitable, and losses have increased over the past 5 years at a rate of -29.9% per year.

Accelerating Growth: Unable to compare CARV's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: CARV is unprofitable, making it difficult to compare its past year earnings growth to the Mortgage industry (11.1%).


Return on Equity

High ROE: CARV has a negative Return on Equity (-10.38%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Carver Bancorp's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: CARV has a low level of unsold assets or inventory.

Debt Coverage by Assets: CARV's debt is covered by short term assets (assets are 1.6x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: CARV has sufficient cash runway for more than 3 years based on its current free cash flow.

Forecast Cash Runway: CARV has sufficient cash runway for more than 3 years if free cash flow continues to reduce at historical rates of -63.7% each year


Financial Institutions Analysis

Asset Level: CARV's level of assets compared to its equity is moderate.

Allowance for Bad Loans: CARV has a low allowance for bad loans.

Low Risk Liabilities: CARV's liabilities are made up of primarily low risk sources of funding.

Loan Level: CARV has an acceptable proportion of non-loan assets held.

Low Risk Deposits: CARV's loans are broadly funded by customer deposits.

Level of Bad Loans: CARV has an appropriate level of bad loans (1.7%)


Next Steps

Dividend

What is Carver Bancorp's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

company0%marketbottom25%1.4%markettop25%3.7%industryaverage2.9%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate CARV's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate CARV's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if CARV's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if CARV's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: CARV is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of CARV's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.0yrs

Average management tenure


CEO

Michael Pugh (48yo)

5.1yrs

Tenure

US$384,288

Compensation

Mr. Michael T. Pugh serves as President, Chief Executive Officer and Director of Carver Bancorp, Inc. (“Carver”) since January 1, 2015. He serves as President, Chief Executive Officer and Director at Carve ...


CEO Compensation Analysis

Compensation vs Market: Michael's total compensation ($USD384.29K) is about average for companies of similar size in the US market ($USD521.92K).

Compensation vs Earnings: Michael's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
Michael Pugh
President5.1yrsUS$384.29k0.27% $25.9k
Christina Maier
First Senior VP & CFO3.9yrsUS$254.62kno data
Sophia Haliotis
Senior VP & Chief Credit Officer1.9yrsUS$207.58k0.16% $15.4k
Isaac Torres
Senior VP2yrsno data0.16% $15.4k

3.0yrs

Average Tenure

58yo

Average Age

Experienced Management: CARV's management team is considered experienced (3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Michael Pugh
President5.1yrsUS$384.29k0.27% $25.9k
Pazel Jackson
Independent Director23.1yrsUS$46.03k0.0024% $225.4
Craig MacKay
Independent Director3yrsUS$30.33k0.027% $2.6k
Kenneth Knuckles
Independent Director6.3yrsUS$28.63k0.027% $2.6k
Colvin Grannum
Independent Director6.3yrsUS$22.73k0.047% $4.5k
Janet Rollé
Independent Director9.5yrsUS$19.65k0.0018% $171.4
Robert Tarter
Non-Executive Chairman of the Board3.1yrsUS$67.50k0.0018% $168.6
Susan Tohbe
Independent Director9.5yrsUS$44.58k0.0018% $171.4
Lewis Jones
Independent Director6.3yrsUS$30.20k0.027% $2.6k
Jillian Joseph
Director0.5yrsno datano data

6.3yrs

Average Tenure

67yo

Average Age

Experienced Board: CARV's board of directors are considered experienced (6.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Carver Bancorp, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Carver Bancorp, Inc.
  • Ticker: CARV
  • Exchange: NasdaqCM
  • Founded: 1948
  • Industry: Thrifts and Mortgage Finance
  • Sector: Banks
  • Market Cap: US$9.471m
  • Shares outstanding: 3.70m
  • Website: https://www.carverbank.com

Number of Employees


Location

  • Carver Bancorp, Inc.
  • 75 West 125th Street
  • New York
  • New York
  • 10027
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CARVNasdaqCM (Nasdaq Capital Market)YesCommon StockUSUSDOct 1994

Biography

Carver Bancorp, Inc. operates as the holding company for Carver Federal Savings Bank, a federally chartered savings bank that provides consumer and commercial banking services for consumers, businesses, 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. The company also provides one-to-four family residential, multifamily real estate, and commercial real estate lending products, as well as construction, business, and consumer and other loans. In addition, it offers other consumer and commercial banking products and services, including debit card, online banking, online bill pay, and telephone banking, as well as check cashing, wire transfer, bill payment, reloadable prepaid card, and money order services. The company operates through one administrative office, eight branches, and three ATM locations. Carver Bancorp, Inc. was founded in 1948 and is headquartered in New York, New York. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/17 23:36
End of Day Share Price2020/02/14 00:00
Earnings2019/12/31
Annual Earnings2019/03/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.