Capital Planning Advisors LLC Invests $4.35 Million in Mechanics Bancorp $MCHB

Capital Planning Advisors LLC bought a new stake in shares of Mechanics Bancorp (NASDAQ:MCHB) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 326,808 shares of the company’s stock, valued at approximately $4,350,000.

A number of other large investors have also bought and sold shares of MCHB. AlphaQuest LLC acquired a new position in shares of Mechanics Bancorp during the third quarter valued at about $45,000. Nisa Investment Advisors LLC purchased a new stake in Mechanics Bancorp in the 3rd quarter valued at $57,000. Covestor Ltd bought a new position in Mechanics Bancorp during the 3rd quarter valued at $60,000. JPMorgan Chase & Co. purchased a new position in Mechanics Bancorp during the 3rd quarter worth $118,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of Mechanics Bancorp in the 3rd quarter worth $188,000. 74.71% of the stock is currently owned by institutional investors and hedge funds.

Mechanics Bancorp Price Performance

Mechanics Bancorp stock opened at $15.37 on Monday. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of 48.03 and a beta of 1.57. Mechanics Bancorp has a one year low of $8.41 and a one year high of $16.02. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.07. The stock has a fifty day moving average of $14.78.

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

Mechanics Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 8th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date was Monday, December 8th. Mechanics Bancorp’s dividend payout ratio (DPR) is 262.50%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Mechanics Bancorp in a research report on Monday, December 29th. Keefe, Bruyette & Woods upped their target price on Mechanics Bancorp from $14.00 to $14.50 and gave the company a “market perform” rating in a report on Monday, October 20th. Finally, Wall Street Zen downgraded Mechanics Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, November 30th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $14.50.

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.