Mechanics Bank (OTC:MCHB) Trading 0.6% Higher - What's Next?

Key Points

• Mechanics Bank shares rose 0.6% to $13.15, with a significant trading increase of 69% from average volume, indicating healthy market interest.
• Zacks Research has upgraded the stock from a "strong sell" to a "hold" rating, reflecting a more stable outlook.
• Institutional investors hold 74.71% of Mechanics Bank's stock, with notable increases in holdings by firms like JCSD Capital LLC, which boosted its stake by 292.8% recently.

Mechanics Bank (OTC:MCHB - Get Free Report)'s share price traded up 0.6% during trading on Friday . The company traded as high as $13.17 and last traded at $13.15. 270,144 shares traded hands during mid-day trading, an increase of 69% from the average session volume of 159,786 shares. The stock had previously closed at $13.07.

Analyst Ratings Changes

Separately, Zacks Research upgraded Mechanics Bank from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 2nd. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of "Hold".

Mechanics Bank Stock Performance

The firm has a market capitalization of $248.81 million, a PE ratio of -1.78 and a beta of 1.39. The firm has a fifty day moving average of $13,427.76 and a 200 day moving average of $27,256.47.

Institutional Investors Weigh In On Mechanics Bank

Hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC purchased a new stake in Mechanics Bank during the 3rd quarter worth approximately $395,000. JCSD Capital LLC increased its holdings in Mechanics Bank by 292.8% during the 3rd quarter. JCSD Capital LLC now owns 63,051 shares of the company's stock worth $839,000 after purchasing an additional 47,000 shares during the last quarter. Finally, Burns Matteson Capital Management LLC acquired a new position in shares of Mechanics Bank in the 3rd quarter worth approximately $200,000. 74.71% of the stock is currently owned by hedge funds and other institutional investors.

About Mechanics Bank

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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