Acuitas Investments LLC Takes Position in Mechanics Bancorp $MCHB

Acuitas Investments LLC acquired a new position in Mechanics Bancorp (NASDAQ:MCHB) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 383,299 shares of the company’s stock, valued at approximately $5,102,000. Mechanics Bancorp makes up 3.3% of Acuitas Investments LLC’s holdings, making the stock its 8th largest holding.

Other institutional investors have also modified their holdings of the company. Maltese Capital Management LLC bought a new position in Mechanics Bancorp during the third quarter valued at about $13,498,000. Mercer Global Advisors Inc. ADV bought a new stake in Mechanics Bancorp in the third quarter worth about $165,000. Millennium Management LLC acquired a new stake in Mechanics Bancorp in the 3rd quarter valued at about $5,958,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Mechanics Bancorp in the 3rd quarter valued at about $112,000. Finally, Lighthouse Investment Partners LLC bought a new position in shares of Mechanics Bancorp during the 3rd quarter valued at about $3,459,000. Institutional investors and hedge funds own 74.71% of the company’s stock.

Mechanics Bancorp Stock Performance

NASDAQ:MCHB opened at $14.31 on Wednesday. The firm has a market cap of $3.17 billion, a P/E ratio of 44.72 and a beta of 1.55. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.82 and a current ratio of 0.82. The stock’s fifty day moving average price is $14.89. Mechanics Bancorp has a 52-week low of $8.56 and a 52-week high of $16.02.

Mechanics Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Monday, March 9th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 11.2%. The ex-dividend date is Monday, March 9th. Mechanics Bancorp’s dividend payout ratio (DPR) is presently 500.00%.

Wall Street Analysts Forecast Growth

MCHB has been the topic of a number of research reports. Weiss Ratings upgraded shares of Mechanics Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 25th. Wall Street Zen cut shares of Mechanics Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, November 30th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price 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.