Mechanics Bancorp (NASDAQ:MCHB) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Mechanics Bancorp (NASDAQ:MCHB) to a hold rating in a research report sent to investors on Monday.

Separately, Keefe, Bruyette & Woods upped their target price on Mechanics Bancorp from $14.00 to $14.50 and gave the company a “market perform” rating in a research note on Monday. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $14.50.

Mechanics Bancorp Stock Up 3.8%

MCHB opened at $13.65 on Monday. The company has a debt-to-equity ratio of 3.14, a current ratio of 1.03 and a quick ratio of 1.02. Mechanics Bancorp has a 1-year low of $8.41 and a 1-year high of $15.03.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Mechanics Bancorp stock. Miracle Mile Advisors LLC bought a new position in Mechanics Bancorp (NASDAQ:MCHB) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,115,781 shares of the company’s stock, valued at approximately $14,851,000. Miracle Mile Advisors LLC owned 5.90% of Mechanics Bancorp at the end of the most recent quarter. Hedge funds and other institutional investors own 74.71% of the company’s stock.

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.