Mechanics Bancorp (NASDAQ:MCHB) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Mechanics Bancorp (NASDAQ:MCHB) had its price objective hoisted by research analysts at Keefe, Bruyette & Woods from $16.00 to $17.50 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 4.57% from the stock’s previous close.

Several other research analysts also recently issued reports on MCHB. Weiss Ratings downgraded shares of Mechanics Bancorp from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 23rd. Cantor Fitzgerald began coverage on shares of Mechanics Bancorp in a research note on Friday, April 10th. They issued an “overweight” rating and a $17.00 target price for the company. Zacks Research upgraded shares of Mechanics Bancorp to a “hold” rating in a research report on Monday, June 1st. Stifel Nicolaus set a $17.00 price target on shares of Mechanics Bancorp in a research note on Thursday, May 28th. Finally, Raymond James Financial started coverage on shares of Mechanics Bancorp in a report on Thursday, May 28th. They issued an “outperform” rating and a $17.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Mechanics Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.12.

Mechanics Bancorp Price Performance

MCHB stock traded up $0.04 during midday trading on Wednesday, reaching $16.73. 128,228 shares of the company’s stock traded hands, compared to its average volume of 486,888. The company has a 50-day simple moving average of $15.62 and a two-hundred day simple moving average of $15.14. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.05. Mechanics Bancorp has a 1-year low of $12.50 and a 1-year high of $17.19. The company has a market cap of $3.71 billion, a price-to-earnings ratio of 13.60 and a beta of 1.41.

Mechanics Bancorp (NASDAQ:MCHB) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. The company had revenue of $200.97 million for the quarter, compared to analyst estimates of $198.30 million. Mechanics Bancorp had a return on equity of 10.69% and a net margin of 23.98%. On average, analysts anticipate that Mechanics Bancorp will post 1.02 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Comerica Bank bought a new position in shares of Mechanics Bancorp in the 3rd quarter valued at about $34,000. California State Teachers Retirement System bought a new stake in shares of Mechanics Bancorp during the first quarter worth approximately $39,000. Fifth Third Bancorp acquired a new position in Mechanics Bancorp in the first quarter valued at approximately $39,000. Assetmark Inc. acquired a new position in Mechanics Bancorp in the first quarter valued at approximately $51,000. Finally, BNP Paribas Financial Markets bought a new position in Mechanics Bancorp in the third quarter valued at approximately $48,000. 74.71% of the stock is currently owned by institutional investors and hedge funds.

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. 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.