Carver Bancorp Stock (NASDAQ:CARV), Trade Ideas

Carver Bancorp

Carver Bancorp Inc is a holding company and conducts its business as a unitary saving and loan holding firm and the business of the company consists of the operation of its subsidiary. The bank offers a wide range of financial solutions to meet customers' banking. It offers other consumer and commercial banking products and services, such as debit cards, online banking, online bill pay, and telephone banking. The company provides deposit products, such as demand, savings, and time deposits for consumers, businesses, and governmental and quasi-governmental agencies in its market area within New York City.

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The most oversold stocks in the financial sector presents an opportunity to buy into undervalued companies.

Top 4 Financial Stocks That May Rocket Higher In July

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	AeroClean Technologies, Inc. (NASDAQ: AERC) shares gained 100.4% to close at $4.75 on Monday after the FDA granted clearance for the company&#39;s pūrgo technology, classifying it as a class II medical device.


95 Biggest Movers From Yesterday

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Avadel Pharmaceuticals plc - American Depositary Shares each representing one Ordinary Share

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70 Biggest Movers From Friday

Carver Bancorp Inc

Carvana Co

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<h3>Gainers</h3>
<ul>
<li>Root (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROOT#NASDAQ">ROOT</a>) shares increased by 26.1% to $10.93 during Thursday's pre-market session. The company's market cap stands at $159.5 million. The company's, Q4 earnings came out yesterday. </li>
<li>Remitly Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RELY#NASDAQ">RELY</a>) shares increased by 24.36% to $22.0. The market value of their outstanding shares is at $4.0 billion. As per the press release, Q4 earnings came out yesterday. </li>
<li>Lion Group Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGHL#NASDAQ">LGHL</a>) shares increased by 19.65% to $1.4. The company's market cap stands at $5.2 million. </li>
<li>B. Riley Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RILY#NASDAQ">RILY</a>) shares increased by 15.13% to $17.5. The market value of their outstanding shares is at $535.2 million. </li>
<li>B. Riley Financial, Inc. - 5.25% Senior Notes due 2028 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RILYZ#NASDAQ">RILYZ</a>) stock rose 14.76% to $12.28. </li>
<li>Cannae Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNNE#NYSE">CNNE</a>) stock moved upwards by 8.71% to $21.83. The market value of their outstanding shares is at $1.5 billion. The company's, Q4 earnings came out yesterday. </li>
</ul>
<h3>Losers</h3>
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<li>CURO Group Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CURO#NYSE">CURO</a>) stock decreased by 11.2% to $0.25 during Thursday's pre-market session. The market value of their outstanding shares is at $10.4 million. </li>
<li>MicroSectors FANG Index -3X Inverse Leveraged ETNs due January 8, 2038 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FNGD#NYSE">FNGD</a>) shares decreased by 8.18% to $3.93. </li>
<li>Axis Capital Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXS#NYSE">AXS</a>) stock decreased by 7.59% to $56.93. The company's market cap stands at $4.8 billion. </li>
<li>Carver Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CARV#NASDAQ">CARV</a>) shares declined by 5.33% to $1.6. The company's market cap stands at $7.9 million. </li>
<li>Jackson Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JXN#NYSE">JXN</a>) stock declined by 4.63% to $48.0. The company's market cap stands at $3.8 billion. As per the press release, Q4 earnings came out yesterday. </li>
<li>Cheche Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CCG#NASDAQ">CCG</a>) shares decreased by 4.34% to $5.3. The market value of their outstanding shares is at $399.8 million. 
See Also: <a href="http://www.benzinga.com/money/best-financial-services-stocks/" title="www.benzinga.com/money/best-financial-services-stocks/">www.benzinga.com/money/best-financial-services-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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B. Riley Financial, Inc. - 7.50% Senior Notes Due 2027

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12 Financials Stocks Moving In Thursday's Pre-Market Session

Carver Bancorp, Inc. Rejects Dream Chasers' Offer To Acquire 35% Interest In Carver's Common Equity

Dream Chasers Capital Says Met With Carver Bancorp Board, Asked That Bank And Dream Chasers Start The Immediate Drafting Of A Share Purchase Agreement For The Acquisition Of 35% Of The Common Shares Of Carver Bancorp Stock

WIIM

Carver Bancorp shares are trading higher after Dream Chasers raised its offer to $3.25 per share for 35% of Carver.

Dream Chasers Capital, Carver Bancorp's largest minority shareholder, encourage investors to call and email the bank&nbsp;to accept its improved $3.25 per share offer-an over 100% premium to the current stock price.&nbsp;
A public company's stock price and market capital is a reflection of how the markets sees you. It's what they think you&nbsp;are worth. It's an indictment of management.&nbsp;
Carver Bancorp, the largest African American bank in the U.S, has a stock price of $1.47 share and a market capitalization of $7 million.
Much like your favorite professional sports team, coaches and general managers are hired and fired based on their ability to deliver results. Very rarely do non-performing coaches and general managers get to keep their jobs for years if they have not delivered for the fan base.&nbsp;
Over the past few years, under current management, the bank has been losing money,&nbsp;losing deposits, over concentrated in commercial real estate and has a stock price down over 80% for many shareholders.&nbsp;
Management has not delivered for its fan base, namely: shareholders, depositors and the communities of color it serves. We encourage shareholders—retail and institutional—to demand a change of control. &nbsp;
On Oct 27, 2023, Dream Chasers sent a follow up letter to Carver that amongst many things:&nbsp;
<ol>
<li>reiterated our initial $3 a share offer for a $35% stake. We have now publicly raised our offer to $3.25 per share.&nbsp;</li>
<li>reiterated Dream Chasers and its partners' plans to bring to the bank an accomplished world class team—backed by new Capital and deposits—and who will more smartly take advantage of the bank's designation as an MDI (minority depository institution).</li>
<li>offer a severance package to current management and the board to ensure an amicable change of control. &nbsp;</li>
</ol>
In response to our October 27th letter, the bank indicated it would discuss our latest offer internally and set up a date and time for a meeting.&nbsp;
While we were waiting for a date, Carver initiated an 8-K filing and press release outlining its progress and plans for growth.&nbsp;
Most of these plans outlined in the bank's filing are not new and have been promised for years but never executed on.
The bank's 8-K filing does nothing to address how it plans to fix three of the most pressing problems preventing it from growing, namely: turning a profit, reducing its over concentration in CRE in a work from home new world and a plan&nbsp;to win the deposit race against bigger rivals.&nbsp;
To the bank's own admission, it stated in its most recent 10-K, that "it faces strong competition within the Bank's only market, New York City, which would adversely affect profits and slow growth due to significantly larger competitors with greater financial resources."&nbsp;
In its 8-K filing, the bank mentions a milestone of raising $40 million in new capital since 2019. With the bank's current market capitalization, investors have seen a negative return on that $40m capital. Dream Chasers and its partners intend to be creators not destroyers of capital.&nbsp;
With our revised $3.25 a share offer, Carver's board of directors has a fiduciary responsibility to shareholders to act in their best interest nor self interest. We are again encouraging all shareholders, retail and institutional, to contact current management and tell them to take the Dream Chasers revised share price and severance package offer.&nbsp;
In light of the historical underperformance of current management and board, shareholders should continue to be vigilant in preventing any self-serving, dilutive, anti-takeover actions or enact poison-pill bylaws—to the detriment of shareholders and communities of color.&nbsp;
Fellow shareholders should not view our revised offer as indicative of our belief the bank's fortunes have changed—but instead is a gesture to compel the board to act and take our very generous offer.&nbsp;
For more inquiry&nbsp; <a href="mailto:info@dreamchaserscapitalgroup.com">info@dreamchaserscapitalgroup.com</a>&nbsp;

Contracts

Dream Chasers Raises Its Offer To $3.25 Per Share For 35% Of Nasdaq Listed Carver Bancorp Symbol: CARV

&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=3942721-1&amp;h=4152067114&amp;u=https%3A%2F%2Fc212.net%2Fc%2Flink%2F%3Ft%3D0%26l%3Den%26o%3D3934338-1%26h%3D2863119722%26u%3Dhttps%253A%252F%252Fwww.carverbank.com%252F%26a%3DCarver%25C2%25A0Bancorp%252C%2BInc.&amp;a=Carver%C2%A0Bancorp%2C+Inc." target="_blank">Carver&nbsp;Bancorp, Inc.</a>&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CARV#NASDAQ">CARV</a>) (&quot;Carver&quot;), the holding company for Carver Federal Savings Bank (the &quot;Bank&quot;) announced today that its board of directors unanimously appointed&nbsp;Craig C. MacKay&nbsp;as interim President &amp; CEO, effective&nbsp;October 1, 2023. His appointment will facilitate a smooth leadership transition until a permanent President &amp; CEO is named after a national search is conducted. Carver previously announced that its current President &amp; CEO,&nbsp;Michael T. Pugh, will depart on&nbsp;September 30, 2023, to become the CEO of the Local Initiatives Support Coalition (&quot;LISC&quot;), a national nonprofit organization.
Craig is a seasoned and accomplished executive in the financial services industry --&nbsp;Lewis P. Jones III
A national search is underway to find a permanent President &amp; CEO to lead Carver in its ongoing mission to provide banking services and business capital to diverse urban communities&nbsp;throughout&nbsp;Greater New York City.
Lewis P. Jones III, Chairman of the Board, commented,&nbsp;&quot;Craig is a seasoned and accomplished executive in the financial services industry. Combined with his Carver board service, he is well suited to lead the company as interim President &amp; CEO. Craig has the full support of the Carver Board.&quot;
Mr. MacKay has been an independent director of Carver since&nbsp;February 2017. He is currently Senior Advisor at&nbsp;England&nbsp;&amp; Company. He also serves as an Independent Director of Equitable Holdings and an Independent Trustee of Pioneer Funds. Earlier in his career, Mr. MacKay headed the Private Finance Group at Oppenheimer &amp; Company. Before his tenure at Oppenheimer, he was head of Private Finance at SunTrust Robinson Humphrey. Mr. MacKay earned both a B.S. in Economics and an MBA from the Wharton School of Business at the&nbsp;University of Pennsylvania.
Craig C. MacKay&nbsp;stated, &quot;I&#39;m honored to be named interim President &amp; CEO of this historic institution, which has served the banking needs of traditionally underserved communities throughout&nbsp;Greater New York City&nbsp;for 75 years. I&#39;ve worked closely with senior leadership and members of the Carver family and admire their collective commitment to leveling the playing field by providing comprehensive financial advice, access to capital, and wealth enhancing opportunities. I look forward to continuing our growth in services and deepening our retail and commercial banking relationships.&quot;
Mr. MacKay will work closely with Mr. Pugh and the senior leadership team over the coming weeks to ensure a smooth leadership transition.

Management

Carver Bancorp, Inc. Names Craig C. MacKay Interim CEO

Carver Bancorp Announces President And CEO Michael Pugh To Leave Effective September 30

Offerings

On July 19, 2023, Carver Bancorp, Inc. Sold 378,788 Shares Of Its Common Stock To The National Community Investment Fund Via A Private Placement At $2.64 Per Share, Yielding Gross Proceeds Of Approximately $1M

The most oversold stocks in the financial sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock&#39;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#39;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the <a href="https://www.benzinga.com/topic/rsi"> RSI is below 30.</a>
Here&rsquo;s the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3>Carver Bancorp, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/carv#NASDAQ">CARV</a>)</h3>
<ul>
<li>The company&rsquo;s stock dropped 34% over the past month. The company&rsquo;s stock has a <a href="https://www.benzinga.com/quote/CARV">52-week low of $2.61 </a>.</li>
<li>RSI Value: 26.28</li>
<li>CARV Price Action: Shares of Carver Bancorp fell 1.5% to close at $2.67 on Friday.</li>
</ul>
<h3>Waterdrop Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wdh#NYSE">WDH</a>)</h3>
<ul>
<li>Waterdrop agreed to acquire up to 100% of equity interest of Cunzhen Qiushi for aggregate $52.6162 million. It <a href="https://www.benzinga.com/quote/WDH"> has a 52-week low </a> of $0.87.</li>
<li>RSI Value: 28.03</li>
<li>WDH Price Action: Shares of Waterdrop fell 0.5% to close at $2.08 on Friday.</li>
</ul>
<h3>Senmiao Technology Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aihs#NASDAQ">AIHS</a>)</h3>
<ul>
<li>Senmiao Technology reported ride-hailing platform operating metrics for May 2023. Senmiao and its affiliates recorded around 0.8 million total completed orders for the month. The company&rsquo;s stock has a 52-week <a href="https://www.benzinga.com/quote/AIHS"> low of $0.45.</a></li>
<li>RSI Value: 25.52</li>
<li>AIHS Price Action: Shares of Senmiao Technology dipped 10.8% to close at $0.4681 on Friday.</li>
</ul>
<h3>CaliberCos Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cwd#NASDAQ">CWD</a>)</h3>
<ul>
<li>CaliberCos first-quarter revenue jumped 21.5% year-over-year to $29.5 million. &quot;Our growth trajectory continued in the first quarter, with consolidated revenue growth of 21.5% and FV AUM growth of over 30%. We continued to deploy capital into attractively priced real estate assets as well as expand our reach with RIAs and broker-dealers through our new wholesaling initiative,&quot; said Chris Loeffler, CEO of CaliberCos Inc. The company&rsquo;s 52-week low is $1.81.</li>
<li>RSI Value: 26.28</li>
<li>CWD Price Action: Shares of CaliberCos fell 0.5% to close at $1.92 on Friday.</li>
</ul>