Wall Street Zen Upgrades Mechanics Bancorp (NASDAQ:MCHB) to “Hold”

Mechanics Bancorp (NASDAQ:MCHB) was upgraded by analysts at Wall Street Zen to a “hold” rating in a note issued to investors on Monday.

Separately, Keefe, Bruyette & Woods raised their price target on shares of Mechanics Bancorp from $14.00 to $14.50 and gave the stock a “market perform” rating in a research report on Monday. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $14.50.

Mechanics Bancorp Price Performance

NASDAQ:MCHB opened at $13.59 on Monday. Mechanics Bancorp has a 52 week low of $8.41 and a 52 week high of $14.71. 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 Investors Weigh In On Mechanics Bancorp

An institutional investor recently bought a new position in Mechanics Bancorp stock. Miracle Mile Advisors LLC acquired a new position in shares of Mechanics Bancorp (NASDAQ:MCHB) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing. 74.71% of the stock is owned by institutional investors.

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.