Acuitas Investments LLC Makes New Investment in Mechanics Bancorp $MCHB

Acuitas Investments LLC bought a new stake in Mechanics Bancorp (NASDAQ:MCHB) in the third quarter, Holdings Channel reports. The institutional investor bought 105,281 shares of the company’s stock, valued at approximately $1,401,000. Mechanics Bancorp makes up about 0.6% of Acuitas Investments LLC’s portfolio, making the stock its 28th biggest holding.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. CCG Wealth Management LLC purchased a new stake in Mechanics Bancorp in the 3rd quarter valued at approximately $2,277,000. Miracle Mile Advisors LLC purchased a new position in shares of Mechanics Bancorp during the 3rd quarter worth approximately $14,851,000. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Mechanics Bancorp in the 3rd quarter valued at approximately $805,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Mechanics Bancorp in the third quarter valued at approximately $188,000. Finally, Covestor Ltd purchased a new stake in shares of Mechanics Bancorp in the third quarter valued at approximately $60,000. Hedge funds and other institutional investors own 74.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MCHB shares. Keefe, Bruyette & Woods raised their price objective on shares of Mechanics Bancorp from $14.00 to $14.50 and gave the company a “market perform” rating in a research note on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Mechanics Bancorp in a report on Monday, December 29th. Finally, Wall Street Zen lowered Mechanics Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, November 30th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $14.50.

Mechanics Bancorp Stock Up 1.7%

NASDAQ:MCHB opened at $15.17 on Friday. The stock has a market capitalization of $3.36 billion, a P/E ratio of -2.24 and a beta of 1.55. The stock’s 50 day moving average is $14.67. Mechanics Bancorp has a fifty-two week low of $8.41 and a fifty-two week high of $15.90. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.82 and a current ratio of 0.82.

Mechanics Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 8th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date was Monday, December 8th. Mechanics Bancorp’s dividend payout ratio is currently -12.43%.

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.