Mechanics Bank (OTC:MCHB) Reaches New 52-Week High – What’s Next?

Mechanics Bank (OTC:MCHB) shares hit a new 52-week high during trading on Monday . The company traded as high as $16.02 and last traded at $15.96, with a volume of 244791 shares traded. The stock had previously closed at $15.67.

Mechanics Bank Stock Performance

The stock has a market cap of $3.46 billion, a PE ratio of 48.94 and a beta of 1.57. The firm has a 50-day moving average price of $14.75 and a 200-day moving average price of $7,951.06.

Hedge Funds Weigh In On Mechanics Bank

Institutional investors and hedge funds have recently bought and sold shares of the stock. Burns Matteson Capital Management LLC bought a new position in Mechanics Bank in the third quarter worth approximately $200,000. Farther Finance Advisors LLC purchased a new stake in shares of Mechanics Bank in the 3rd quarter worth $395,000. Finally, JCSD Capital LLC grew its position 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 worth $839,000 after buying an additional 47,000 shares in the last quarter. 74.71% of the stock is currently 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.