Mechanics Bank (OTC:MCHB) Sets New 12-Month High – Here’s What Happened

Mechanics Bank (OTC:MCHB) reached a new 52-week high during trading on Friday . The company traded as high as $15.91 and last traded at $15.10, with a volume of 58969 shares traded. The stock had previously closed at $15.17.

Mechanics Bank Price Performance

The stock has a market capitalization of $3.32 billion, a P/E ratio of -2.22 and a beta of 1.55. The stock’s fifty day moving average is $14.70 and its two-hundred day moving average is $9,915.79.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MCHB. Burns Matteson Capital Management LLC purchased a new position in Mechanics Bank in the third quarter valued at about $200,000. Farther Finance Advisors LLC acquired a new stake in shares of Mechanics Bank during the 3rd quarter valued at about $395,000. Finally, JCSD Capital LLC lifted its holdings in shares of Mechanics Bank by 292.8% during the 3rd quarter. JCSD Capital LLC now owns 63,051 shares of the company’s stock valued at $839,000 after buying an additional 47,000 shares during the last quarter. 74.71% of the stock is 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. 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.