Quantinno Capital Management LP Invests $813,000 in Mechanics Bancorp $MCHB

Quantinno Capital Management LP purchased a new stake in shares of Mechanics Bancorp (NASDAQ:MCHB) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 55,119 shares of the company’s stock, valued at approximately $813,000.

A number of other large investors have also recently modified their holdings of the company. Comerica Bank bought a new position in Mechanics Bancorp in the third quarter worth approximately $34,000. Fifth Third Bancorp bought a new stake in Mechanics Bancorp during the 1st quarter valued at $39,000. Assetmark Inc. purchased a new stake in shares of Mechanics Bancorp in the 1st quarter worth $51,000. BNP Paribas Financial Markets purchased a new stake in shares of Mechanics Bancorp in the 3rd quarter worth $48,000. Finally, Bank of America Corp DE purchased a new stake in shares of Mechanics Bancorp in the 3rd quarter worth $98,000. Hedge funds and other institutional investors own 74.71% of the company’s stock.

Wall Street Analyst Weigh In

MCHB has been the topic of several research reports. Zacks Research upgraded Mechanics Bancorp to a “hold” rating in a research note on Monday, June 1st. Raymond James Financial started coverage on shares of Mechanics Bancorp in a research note on Thursday, May 28th. They issued an “outperform” rating and a $17.00 price objective for the company. Stifel Nicolaus set a $17.00 target price on shares of Mechanics Bancorp in a report on Thursday, May 28th. Keefe, Bruyette & Woods raised their target price on shares of Mechanics Bancorp from $16.00 to $17.50 and gave the company a “market perform” rating in a research report on Wednesday, August 5th. Finally, Weiss Ratings upgraded shares of Mechanics Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $17.12.

Mechanics Bancorp Trading Down 1.9%

Shares of NASDAQ:MCHB opened at $16.75 on Tuesday. The company has a market capitalization of $3.71 billion, a PE ratio of 13.62 and a beta of 1.41. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.05. Mechanics Bancorp has a 12-month low of $12.52 and a 12-month high of $17.38. The business’s fifty day simple moving average is $16.02 and its 200-day simple moving average is $15.28.

Mechanics Bancorp 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.