Mechanics Bancorp (NASDAQ:MCHB) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Mechanics Bancorp (NASDAQ:MCHB) have been given a consensus recommendation of “Moderate Buy” by the five research firms that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $16.6250.

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus set a $17.00 price target on shares of Mechanics Bancorp in a report on Thursday, May 28th. Cantor Fitzgerald started coverage on Mechanics Bancorp in a research note on Friday, April 10th. They set an “overweight” rating and a $17.00 price target on the stock. Raymond James Financial started coverage on Mechanics Bancorp in a research note on Thursday, May 28th. They set an “outperform” rating and a $17.00 price target on the stock. Zacks Research raised Mechanics Bancorp to a “hold” rating in a research note on Monday, June 1st. Finally, Weiss Ratings raised Mechanics Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, June 4th.

Mechanics Bancorp Stock Performance

Shares of Mechanics Bancorp stock opened at $14.66 on Monday. The firm has a market capitalization of $3.25 billion, a PE ratio of 19.55 and a beta of 1.42. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.05. The firm’s 50 day moving average is $14.89 and its 200 day moving average is $14.81. Mechanics Bancorp has a 1 year low of $12.13 and a 1 year high of $16.03.

Mechanics Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Saturday, May 23rd were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, May 22nd. This is a positive change from Mechanics Bancorp’s previous quarterly dividend of $0.40. This represents a $2.80 dividend on an annualized basis and a dividend yield of 19.1%. Mechanics Bancorp’s payout ratio is 373.33%.

Institutional Trading of Mechanics Bancorp

A number of hedge funds have recently made changes to their positions in MCHB. Comerica Bank bought a new position in Mechanics Bancorp during the 3rd quarter worth $34,000. Fifth Third Bancorp bought a new position in Mechanics Bancorp during the 1st quarter worth $39,000. California State Teachers Retirement System bought a new position in Mechanics Bancorp during the 1st quarter worth $39,000. BNP Paribas Financial Markets bought a new position in Mechanics Bancorp during the 3rd quarter worth $48,000. Finally, Assetmark Inc. bought a new position in Mechanics Bancorp during the 1st quarter worth $51,000. 74.71% of the stock is owned by institutional investors and hedge funds.

Mechanics Bancorp Company Profile

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.