Mechanics Bank (OTC:MCHB) Sets New 12-Month High – Here’s What Happened

Shares of Mechanics Bank (OTC:MCHB) hit a new 52-week high during trading on Friday . The stock traded as high as $15.91 and last traded at $15.10, with a volume of 58969 shares. The stock had previously closed at $15.17.

Mechanics Bank Stock Performance

The company’s fifty day simple moving average is $14.67 and its two-hundred day simple moving average is $10,416.27. The stock has a market capitalization of $3.38 billion, a P/E ratio of -2.26 and a beta of 1.55.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Burns Matteson Capital Management LLC acquired a new stake in shares of Mechanics Bank during the third quarter worth $200,000. Farther Finance Advisors LLC bought a new position in Mechanics Bank during the third quarter worth about $395,000. Finally, JCSD Capital LLC raised its stake in Mechanics Bank by 292.8% in the 3rd quarter. JCSD Capital LLC now owns 63,051 shares of the company’s stock worth $839,000 after purchasing an additional 47,000 shares in the last quarter. 74.71% of the stock is owned by institutional investors and hedge funds.

About Mechanics Bank

Mechanics Bank provides various financial services for individuals, families, small businesses, municipalities, and non-profits in communities in Greater San Francisco, Sacramento, Los Angeles, and San Diego areas and throughout the Central Valley in California. The company offers checking and savings accounts. It also provides home and auto loans; term loans and lines of credit, multi-family lending, commercial real estate loans, owner-occupied real estate loans, equipment financing, and trade services and letters of credit; and small business administration loans.