Mechanics Bancorp (NASDAQ:MCHB) Announces Quarterly Earnings Results

Mechanics Bancorp (NASDAQ:MCHB) announced its quarterly earnings data on Friday. The company reported $0.56 EPS for the quarter, Zacks reports. Mechanics Bancorp had a negative net margin of 14.49% and a positive return on equity of 4.74%.

Mechanics Bancorp Price Performance

MCHB opened at $14.99 on Friday. Mechanics Bancorp has a 1-year low of $8.41 and a 1-year high of $15.91. The firm has a market cap of $3.32 billion, a PE ratio of -2.22 and a beta of 1.55. The stock has a 50 day moving average price of $14.70. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.07.

Mechanics Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 8th were issued a $0.21 dividend. The ex-dividend date was Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.6%. Mechanics Bancorp’s dividend payout ratio is currently -12.43%.

Analyst Upgrades and Downgrades

MCHB has been the subject of several analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Mechanics Bancorp in a report on Monday, December 29th. Wall Street Zen downgraded Mechanics Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, November 30th. Finally, Keefe, Bruyette & Woods raised their price target on Mechanics Bancorp from $14.00 to $14.50 and gave the company a “market perform” rating in a report on Monday, October 20th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $14.50.

Institutional Trading of Mechanics Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the business. UBS Group AG purchased a new stake in shares of Mechanics Bancorp in the third quarter valued at $769,000. Dimensional Fund Advisors LP acquired a new position in Mechanics Bancorp in the 3rd quarter valued at about $9,557,000. Victory Capital Management Inc. purchased a new position in Mechanics Bancorp in the 3rd quarter valued at about $322,000. Rhumbline Advisers acquired a new stake in shares of Mechanics Bancorp during the 3rd quarter worth about $355,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of Mechanics Bancorp during the third quarter worth about $165,000. Hedge funds and other institutional investors own 74.71% of the company’s stock.

Mechanics Bancorp Company Profile

HomeStreet, Inc operates as the bank holding company for HomeStreet Bank that provides commercial, mortgage, and consumer/retail banking services primarily in the Western United States. The company offers personal and business checking, savings accounts, interest-bearing negotiable order of withdrawal accounts, money market accounts, and time certificates of deposit; credit cards; insurance; and treasury management products and services. Its loan products include commercial business and agriculture loans, single family residential mortgages, consumer loans, commercial loans secured by residential and commercial real estate, and construction loans for residential and commercial real estate development, as well as consumer installment loans and permanent loans on commercial real estate and single-family residences.