107,929 Shares in Mechanics Bancorp $MCHB Purchased by CenterBook Partners LP

CenterBook Partners LP bought a new stake in shares of Mechanics Bancorp (NASDAQ:MCHB) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 107,929 shares of the company’s stock, valued at approximately $1,437,000. CenterBook Partners LP owned 0.57% of Mechanics Bancorp as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of MCHB. AlphaQuest LLC bought a new position in shares of Mechanics Bancorp during the third quarter valued at approximately $45,000. Nisa Investment Advisors LLC bought a new stake in Mechanics Bancorp during the 3rd quarter valued at $57,000. Covestor Ltd bought a new stake in Mechanics Bancorp during the 3rd quarter valued at $60,000. JPMorgan Chase & Co. purchased a new position in shares of Mechanics Bancorp in the 3rd quarter valued at $118,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in shares of Mechanics Bancorp in the 3rd quarter valued at $188,000. Hedge funds and other institutional investors own 74.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MCHB shares. Weiss Ratings restated a “hold (c+)” rating on shares of Mechanics Bancorp in a research note on Monday, December 29th. Wall Street Zen lowered shares of Mechanics Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, November 30th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $14.50.

Mechanics Bancorp Price Performance

Shares of MCHB stock opened at $15.44 on Friday. The stock’s fifty day simple moving average is $14.84. Mechanics Bancorp has a 1-year low of $8.41 and a 1-year high of $16.02. The stock has a market cap of $3.42 billion, a P/E ratio of 48.25 and a beta of 1.57. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.07.

Mechanics Bancorp (NASDAQ:MCHB) last released its quarterly earnings results on Friday, January 30th. The company reported $0.56 EPS for the quarter. Mechanics Bancorp had a return on equity of 15.26% and a net margin of 20.20%.The company had revenue of $259.99 million during the quarter.

Mechanics Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 8th were paid a $0.21 dividend. The ex-dividend date was Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 5.4%. Mechanics Bancorp’s dividend payout ratio (DPR) is 262.50%.

Mechanics Bancorp 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. Its loan products include commercial business and agriculture loans, single family residential mortgages, consumer loans, commercial loans secured by residential and commercial real estate, and construction loans for residential and commercial real estate development, as well as consumer installment loans and permanent loans on commercial real estate and single-family residences.