Mechanics Bank (OTC:MCHB) Hits New 52-Week High – Time to Buy?

Mechanics Bank (OTC:MCHB)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $14.66 and last traded at $14.48, with a volume of 48891 shares traded. The stock had previously closed at $14.19.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised shares of Mechanics Bank from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 2nd. One analyst has rated the stock with a Hold rating, According to MarketBeat, Mechanics Bank currently has an average rating of “Hold”.

Mechanics Bank Trading Up 6.3%

The stock has a market cap of $3.34 billion, a P/E ratio of -2.23 and a beta of 1.47. The firm’s fifty day moving average is $13.41 and its 200 day moving average is $21,983.36.

Hedge Funds Weigh In On Mechanics Bank

Several large investors have recently made changes to their positions in the business. JCSD Capital LLC boosted its stake in Mechanics Bank by 292.8% during the 3rd quarter. JCSD Capital LLC now owns 63,051 shares of the company’s stock valued at $839,000 after purchasing an additional 47,000 shares during the period. Burns Matteson Capital Management LLC acquired a new stake in Mechanics Bank in the 3rd quarter valued at approximately $200,000. Finally, Farther Finance Advisors LLC bought a new position in Mechanics Bank in the 3rd quarter worth approximately $395,000. Institutional investors and hedge funds own 74.71% of the company’s stock.

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.