CenterBook Partners LP Takes Position in Mechanics Bancorp $MCHB

CenterBook Partners LP bought a new stake in Mechanics Bancorp (NASDAQ:MCHB) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 107,929 shares of the company’s stock, valued at approximately $1,437,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AlphaQuest LLC purchased a new stake in Mechanics Bancorp during the 3rd quarter valued at about $45,000. Nisa Investment Advisors LLC acquired a new stake in shares of Mechanics Bancorp during the third quarter worth about $57,000. Covestor Ltd purchased a new position in Mechanics Bancorp during the 3rd quarter worth approximately $60,000. JPMorgan Chase & Co. acquired a new stake in Mechanics Bancorp during the 3rd quarter valued at approximately $118,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Mechanics Bancorp in the 3rd quarter valued at $188,000. Institutional investors and hedge funds own 74.71% of the company’s stock.

Mechanics Bancorp Stock Up 1.3%

NASDAQ:MCHB opened at $15.44 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.82 and a quick ratio of 0.82. Mechanics Bancorp has a 52 week low of $8.41 and a 52 week high of $16.02. The company’s 50-day simple moving average is $14.84. The firm has a market cap of $3.42 billion, a PE ratio of 48.25 and a beta of 1.57.

Mechanics Bancorp (NASDAQ:MCHB) last released its quarterly earnings results on Friday, January 30th. The company reported $0.56 earnings per share for the quarter. Mechanics Bancorp had a return on equity of 15.26% and a net margin of 20.20%.The company had revenue of $259.99 million during the quarter.

Mechanics Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 8th were given a dividend of $0.21 per share. The ex-dividend date was Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.4%. Mechanics Bancorp’s dividend payout ratio (DPR) is 262.50%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MCHB. Weiss Ratings reissued a “hold (c+)” rating on shares of Mechanics Bancorp in a report on Monday, December 29th. Wall Street Zen lowered Mechanics Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, November 30th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Mechanics Bancorp currently has a consensus rating of “Hold” and an average price target of $14.50.

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.