Mechanics Bank (OTC:MCHB) Shares Up 2.2% - Time to Buy?

Key Points

• Mechanics Bank shares increased by 2.2% during mid-day trading, reaching a price of $13.75, with trading volume significantly higher than average.
• Zacks Research upgraded Mechanics Bank's rating from "strong sell" to "hold", reflecting a more positive outlook among analysts.
• The company has a market capitalization of $260.16 million and a price-to-earnings ratio of -1.86, indicating potential challenges in profitability.

Mechanics Bank (OTC:MCHB - Get Free Report) shot up 2.2% during mid-day trading on Thursday . The company traded as high as $13.84 and last traded at $13.75. 226,293 shares changed hands during trading, an increase of 53% from the average session volume of 148,259 shares. The stock had previously closed at $13.45.

Analyst Ratings Changes

Separately, Zacks Research raised Mechanics Bank from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 2nd. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of "Hold".

Mechanics Bank Trading Up 2.2%

The business has a 50-day moving average price of $26,693.47 and a 200 day moving average price of $29,647.54. The company has a market cap of $260.16 million, a price-to-earnings ratio of -1.86 and a beta of 1.40.

Mechanics Bank Company Profile

Mechanics Bank provides various financial services for individuals, families, small businesses, municipalities, and non-profits in communities in Greater San Francisco, Sacramento, Los Angeles, and San Diego areas and throughout the Central Valley in California. The company offers checking and savings accounts.

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