Sculptor Capital LP Takes Position in Mechanics Bancorp $MCHB

Sculptor Capital LP bought a new stake in Mechanics Bancorp (NASDAQ:MCHB) in the 1st quarter, Holdings Channel.com reports. The firm bought 512,727 shares of the company’s stock, valued at approximately $7,563,000.

Several other hedge funds have also bought and sold shares of MCHB. Gator Capital Management LLC grew its holdings in Mechanics Bancorp by 0.8% during the fourth quarter. Gator Capital Management LLC now owns 245,001 shares of the company’s stock worth $3,584,000 after purchasing an additional 1,865 shares during the period. Comerica Bank bought a new stake in Mechanics Bancorp in the third quarter valued at approximately $34,000. Fifth Third Bancorp bought a new stake in Mechanics Bancorp in the first quarter valued at approximately $39,000. Assetmark Inc. acquired a new stake in shares of Mechanics Bancorp in the first quarter valued at approximately $51,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of 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 Price Performance

Shares of NASDAQ:MCHB opened at $15.68 on Monday. The firm has a 50 day moving average of $15.35 and a 200-day moving average of $15.05. Mechanics Bancorp has a 12 month low of $12.46 and a 12 month high of $16.68. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $3.47 billion, a PE ratio of 20.91 and a beta of 1.41.

Mechanics Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Saturday, May 23rd were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 17.9%. This is a positive change from Mechanics Bancorp’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, May 22nd. Mechanics Bancorp’s payout ratio is 373.33%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Stifel Nicolaus set a $17.00 target price on Mechanics Bancorp in a report on Thursday, May 28th. Zacks Research raised shares of Mechanics Bancorp to a “hold” rating in a research report on Monday, June 1st. Cantor Fitzgerald started coverage on shares of Mechanics Bancorp in a report on Friday, April 10th. They issued an “overweight” rating and a $17.00 price objective on the stock. Raymond James Financial assumed coverage on shares of Mechanics Bancorp in a research report on Thursday, May 28th. They issued an “outperform” rating and a $17.00 price objective on the stock. Finally, Weiss Ratings downgraded shares of Mechanics Bancorp from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.62.

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.