Mechanics Bancorp (NASDAQ:MCHB) Price Target Raised to $14.50

Mechanics Bancorp (NASDAQ:MCHB) had its target price upped by Keefe, Bruyette & Woods from $14.00 to $14.50 in a research report released on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

Mechanics Bancorp Stock Performance

Mechanics Bancorp stock opened at $13.44 on Monday. Mechanics Bancorp has a 1-year low of $8.41 and a 1-year high of $14.66. The company has a debt-to-equity ratio of 3.14, a current ratio of 1.03 and a quick ratio of 1.02.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Mechanics Bancorp stock. Miracle Mile Advisors LLC acquired a new stake in Mechanics Bancorp (NASDAQ:MCHB) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,115,781 shares of the company’s stock, valued at approximately $14,851,000. Miracle Mile Advisors LLC owned approximately 5.90% of Mechanics Bancorp at the end of the most recent quarter. 74.71% of the stock is currently owned by institutional investors.

About Mechanics Bancorp

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.