Mendon Capital Advisors Corp purchased a new position in Mechanics Bancorp (NASDAQ:MCHB - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 347,614 shares of the company's stock, valued at approximately $5,127,000. Mechanics Bancorp comprises about 1.5% of Mendon Capital Advisors Corp's holdings, making the stock its 25th largest holding. Mendon Capital Advisors Corp owned about 0.16% of Mechanics Bancorp at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Comerica Bank bought a new position in Mechanics Bancorp during the 3rd quarter valued at $34,000. Fifth Third Bancorp bought a new stake in shares of Mechanics Bancorp in the 1st quarter worth about $39,000. BNP Paribas Financial Markets acquired a new stake in shares of Mechanics Bancorp in the 3rd quarter valued at about $48,000. Assetmark Inc. acquired a new stake in shares of Mechanics Bancorp in the 1st quarter valued at about $51,000. Finally, Bank of America Corp DE acquired a new stake in shares of Mechanics Bancorp in the 3rd quarter valued at about $98,000. 74.71% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on MCHB shares. Keefe, Bruyette & Woods reduced their price target on shares of Mechanics Bancorp from $16.00 to $15.50 and set a "market perform" rating on the stock in a research report on Monday, May 4th. Zacks Research raised Mechanics Bancorp to a "hold" rating in a report on Monday, June 1st. Cantor Fitzgerald assumed coverage on Mechanics Bancorp in a research note on Friday, April 10th. They set an "overweight" rating and a $17.00 price objective on the stock. Stifel Nicolaus set a $17.00 target price on Mechanics Bancorp in a report on Thursday, May 28th. Finally, Raymond James Financial assumed coverage on Mechanics Bancorp in a research report on Thursday, May 28th. They issued an "outperform" rating and a $17.00 target price for the company. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $16.62.
Check Out Our Latest Research Report on MCHB
Mechanics Bancorp Stock Performance
Shares of NASDAQ MCHB opened at $15.68 on Monday. 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 stock has a 50 day simple moving average of $15.35 and a 200-day simple moving average of $15.05. The company has a market cap of $3.47 billion, a PE ratio of 20.91 and a beta of 1.41. Mechanics Bancorp has a 12-month low of $12.46 and a 12-month high of $16.68.
Mechanics Bancorp Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Saturday, May 23rd were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 17.9%. The ex-dividend date of this dividend was Friday, May 22nd. This is an increase from Mechanics Bancorp's previous quarterly dividend of $0.40. Mechanics Bancorp's dividend payout ratio (DPR) is presently 373.33%.
Mechanics Bancorp Company Profile
(
Free Report)
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.
Featured Articles
Want to see what other hedge funds are holding MCHB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mechanics Bancorp (NASDAQ:MCHB - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Mechanics Bancorp, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Mechanics Bancorp wasn't on the list.
While Mechanics Bancorp currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy is entering a new growth cycle as rising power demand, expanding data centers, and renewed policy support bring the sector back into focus. After strong gains in recent years, the most impactful phase of nuclear investment may still be ahead.
This report highlights seven nuclear energy stocks positioned across the value chain—combining near-term revenue with long-term upside as next-generation technologies scale. Click the link below to unlock the full list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
