Mechanics Bancorp (NASDAQ:MCHB – Get Free Report) had its price target dropped by investment analysts at Keefe, Bruyette & Woods from $16.00 to $15.50 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods‘s price objective indicates a potential upside of 6.16% from the stock’s previous close.
Several other brokerages also recently commented on MCHB. Cantor Fitzgerald lowered their price objective on shares of Mechanics Bancorp from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Tuesday. Zacks Research cut Mechanics Bancorp from a “hold” rating to a “strong sell” rating in a research note on Friday, October 30th. Stephens began coverage on Mechanics Bancorp in a research note on Friday, September 18th. They issued an “equal weight” rating and a $17.00 target price on the stock. Wall Street Zen downgraded Mechanics Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, October 31st. Finally, Weiss Ratings lowered Mechanics Bancorp from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 9th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Mechanics Bancorp has a consensus rating of “Hold” and a consensus target price of $16.50.
Check Out Our Latest Research Report on MCHB
Mechanics Bancorp Trading Down 2.9%
MCHB traded down $0.43 during trading on Thursday, hitting $14.60. 166,636 shares of the stock traded hands, compared to its average volume of 500,281. The firm has a market capitalization of $3.23 billion, a P/E ratio of 12.40 and a beta of 1.41. Mechanics Bancorp has a 12-month low of $13.02 and a 12-month high of $17.38. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a 50-day moving average of $15.07 and a 200 day moving average of $15.24.
Institutional Trading of Mechanics Bancorp
Several large investors have recently bought and sold shares of the company. Sculptor Capital LP bought a new stake in Mechanics Bancorp during the 1st quarter valued at approximately $7,563,000. Mendon Capital Advisors Corp bought a new position in shares of Mechanics Bancorp in the 1st quarter worth approximately $5,127,000. Pinnacle Holdings LLC bought a new position in shares of Mechanics Bancorp in the 2nd quarter worth approximately $4,028,000. Bank of America Corp DE bought a new position in shares of Mechanics Bancorp in the 1st quarter worth approximately $1,662,000. Finally, Waverly Advisors LLC bought a new position in shares of Mechanics Bancorp in the 1st quarter worth approximately $1,302,000. 74.71% of the stock is owned by institutional investors.
Mechanics Bancorp Company Profile
Mechanics Bancorp, Inc is the bank holding company for Mechanics Bank, a community banking institution headquartered in Mansfield, Ohio. Through its banking subsidiary, the company serves individuals, families, small businesses and commercial customers in communities across north-central Ohio.
Mechanics Bank provides traditional banking products and services, including deposit accounts, residential and commercial real estate loans, consumer lending, business financing, treasury management and online and mobile banking.
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