Mechanics Bank (OTC:MCHB) Trading Down 2.5% – Should You Sell?

Mechanics Bank (OTC:MCHB)’s share price traded down 2.5% during trading on Tuesday . The company traded as low as $14.07 and last traded at $14.20. 688,170 shares changed hands during trading, an increase of 216% from the average session volume of 217,693 shares. The stock had previously closed at $14.56.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded Mechanics Bank from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 2nd. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold”.

Mechanics Bank Price Performance

The business’s 50-day simple moving average is $13.92 and its two-hundred day simple moving average is $18,510.39. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of -2.10 and a beta of 1.54.

Institutional Investors Weigh In On Mechanics Bank

Hedge funds and other institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC bought a new position in Mechanics Bank in the third quarter valued at about $395,000. JCSD Capital LLC grew its holdings in shares of Mechanics Bank by 292.8% during the third quarter. JCSD Capital LLC now owns 63,051 shares of the company’s stock worth $839,000 after purchasing an additional 47,000 shares during the last quarter. Finally, Burns Matteson Capital Management LLC bought a new stake in shares of Mechanics Bank during the third quarter worth about $200,000. Institutional investors own 74.71% of the company’s stock.

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.