Mechanics Bank (OTC:MCHB) Stock Price Up 4.8% – What’s Next?

Mechanics Bank (OTC:MCHB)’s share price was up 4.8% during trading on Wednesday . The stock traded as high as $15.00 and last traded at $14.95. Approximately 575,492 shares traded hands during trading, an increase of 37% from the average daily volume of 420,446 shares. The stock had previously closed at $14.27.

Mechanics Bank Stock Performance

The stock’s 50-day moving average price is $14.48 and its two-hundred day moving average price is $11,925.55. The stock has a market capitalization of $3.31 billion, a PE ratio of -2.21 and a beta of 1.55.

Hedge Funds Weigh In On Mechanics Bank

A number of institutional investors and hedge funds have recently made changes to their positions in MCHB. Burns Matteson Capital Management LLC bought a new stake in Mechanics Bank in the third quarter worth $200,000. Farther Finance Advisors LLC purchased a new position in shares of Mechanics Bank in the 3rd quarter worth about $395,000. Finally, JCSD Capital LLC boosted its stake in Mechanics Bank by 292.8% in 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 in the last quarter. Institutional investors own 74.71% of the company’s stock.

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. It also provides home and auto loans; term loans and lines of credit, multi-family lending, commercial real estate loans, owner-occupied real estate loans, equipment financing, and trade services and letters of credit; and small business administration loans.