Mechanics Bancorp (NASDAQ:MCHB) Given Consensus Recommendation of “Hold” by Analysts

Mechanics Bancorp (NASDAQ:MCHB) has received a consensus rating of “Hold” from the five analysts that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $16.25.

A number of analysts recently weighed in on MCHB shares. Weiss Ratings cut shares of Mechanics Bancorp from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 22nd. Raymond James Financial started coverage on shares of Mechanics Bancorp in a report on Thursday. They issued an “outperform” rating on the stock. Cantor Fitzgerald assumed coverage on shares of Mechanics Bancorp in a report on Friday, April 10th. They issued an “overweight” rating and a $17.00 price objective on the stock. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Mechanics Bancorp from $16.00 to $15.50 and set a “market perform” rating for the company in a research report on Monday, May 4th.

Hedge Funds Weigh In On Mechanics Bancorp

Large investors have recently made changes to their positions in the business. Mechanics Bank Trust Department bought a new position in shares of Mechanics Bancorp during the 4th quarter valued at about $50,082,000. Acuitas Investments LLC bought a new position in shares of Mechanics Bancorp during the 3rd quarter valued at about $5,102,000. Stieven Capital Advisors L.P. bought a new position in shares of Mechanics Bancorp during the 3rd quarter valued at about $7,743,000. Maltese Capital Management LLC purchased a new stake in Mechanics Bancorp during the third quarter valued at about $13,498,000. Finally, CenterBook Partners LP purchased a new stake in Mechanics Bancorp during the third quarter valued at about $1,437,000. Institutional investors own 74.71% of the company’s stock.

Mechanics Bancorp Stock Performance

Shares of MCHB stock traded up $0.09 during trading hours on Thursday, reaching $14.51. The stock had a trading volume of 407,670 shares, compared to its average volume of 428,860. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.80 and a quick ratio of 0.80. Mechanics Bancorp has a twelve month low of $12.05 and a twelve month high of $16.03. The firm has a 50-day simple moving average of $14.81 and a 200-day simple moving average of $14.69. The firm has a market capitalization of $3.21 billion, a PE ratio of 19.35 and a beta of 1.42.

Mechanics Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 28th. Investors of record on Saturday, May 23rd will be given a $0.70 dividend. The ex-dividend date is Friday, May 22nd. This represents a $2.80 dividend on an annualized basis and a yield of 19.3%. This is a boost from Mechanics Bancorp’s previous quarterly dividend of $0.40. Mechanics Bancorp’s payout ratio is currently 373.33%.

About Mechanics Bancorp

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.