Siena Capital Partners GP LLC Takes Position in Mechanics Bancorp $MCHB

Siena Capital Partners GP LLC purchased a new position in shares of Mechanics Bancorp (NASDAQ:MCHB) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 353,216 shares of the company’s stock, valued at approximately $4,705,000. Mechanics Bancorp accounts for 1.3% of Siena Capital Partners GP LLC’s portfolio, making the stock its 24th biggest holding.

A number of other hedge funds have also recently added to or reduced their stakes in MCHB. AlphaQuest LLC purchased a new stake in Mechanics Bancorp in the 3rd quarter valued at approximately $45,000. Nisa Investment Advisors LLC purchased a new position in shares of Mechanics Bancorp during the 3rd quarter worth approximately $57,000. Covestor Ltd acquired a new stake in shares of Mechanics Bancorp in the 3rd quarter valued at approximately $60,000. JPMorgan Chase & Co. purchased a new stake in shares of Mechanics Bancorp in the third quarter valued at approximately $118,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Mechanics Bancorp in the third quarter valued at approximately $188,000. Institutional investors and hedge funds own 74.71% of the company’s stock.

Mechanics Bancorp Stock Down 5.1%

MCHB stock opened at $14.26 on Friday. The firm has a market capitalization of $3.15 billion, a PE ratio of 44.56 and a beta of 1.57. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.07. Mechanics Bancorp has a 52-week low of $8.41 and a 52-week high of $16.02. The business’s fifty day simple moving average is $14.88.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MCHB shares. Weiss Ratings upgraded Mechanics Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday. Wall Street Zen cut shares of Mechanics Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, November 30th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $14.50.

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.