Carver Bancorp Inc. (CARV) shares rose 3.47% to trade at $8.64 in after-market on Thursday, May 20, 2021. Earlier, CARV’s stock gained 3.09% to close Thursday’s normal session at $8.35 per share.CARV shares have soared 406.06% over the last 12 months, and they have moved up 6.78% in the past week. Over the past three months, the stock has lost 19.79%, while over the past six months, it has added 24.81%.
Let’s have a look at its recent developments.
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Carver Bank partnership with Rochelle-White Plains
On May 20, 2021, Carver Federal Savings Bank and the New Rochelle-White Plains Alumni Chapter of the Kappa Alpha Psi Fraternity Inc signed a partnership to promote greater economic empowerment and social justice in communities of colour across the Greater New York City and Westchester Metro areas.
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The partnership aims to provide rich financial education, workplace inclusion, and community engagement to improve economic opportunities for minority communities that have been hit hard during the COVID-19 pandemic.
More ATMs access for Carver Bank customers
OnMay 17, 2021, Carver Federal Savings Bank said that its customers can make withdrawals at more than 80,000 Wells Fargo’s nationwide ATM network without incurring a surcharge fee, effective immediately.
JPMorgan ChaseInvestment
On February 23, 2021, Carver Bancorp, Inc received a long-term equity investment of approximately $6 million in common and preferred shares of the Company by JPMorgan Chase.
The majority of the proceeds from JPMorgan Chase’s investment will be used by the bank to ramp up its lending activities.
Carver Bank partnership with SFE&PD
On Feb. 8, 2021, The Society for Financial Education and Professional Development, Inc. (SFE&PD) partnered with Carver Federal Savings Bank to address the financial literacy knowledge gap in communities of colour by teaching personal financial skills to students at three historically Black colleges and universities(HBCUs)
Long-term deposit by John Hope Bryant to support communities of colour
On February 5, 2021, Carver Federal Savings Bank and John Hope Bryant, an American entrepreneur and philanthropist, announced a long-term deposit in Carver to support economic empowerment in communities of colour.
John Hope Bryant, the Founder, and CEO of both Operation HOPE, Inc. and The Promise Homes Company said that It is a true honour to make a deposit into one of the largest Black-managed financial institutions in the nation on behalf of Operation HOPE and The Promise Homes Company.
Expanding online presence
On December 2, 2020, Carver Federal Savings Bank expanded its online presence to include consumer checking and savings accounts across several key markets in the Northeast. The presence has expanded to nine states, from Rhode Island to Virginia, and Washington, D.C.
Conclusion
Well, there is only one recent news which may or may not be the reason behind its positive progress on Thursday. we hope that CARV shares will end the week on a positive note by gaining more value on Friday.
