Stieven Capital Advisors L.P. Takes Position in Mechanics Bancorp $MCHB

Stieven Capital Advisors L.P. purchased a new position in shares of Mechanics Bancorp (NASDAQ:MCHB) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 581,735 shares of the company’s stock, valued at approximately $7,743,000. Mechanics Bancorp accounts for about 1.5% of Stieven Capital Advisors L.P.’s holdings, making the stock its 27th biggest position.

Other hedge funds have also bought and sold shares of the company. Miracle Mile Advisors LLC bought a new stake in Mechanics Bancorp in the third quarter valued at about $14,851,000. Vanguard Group Inc. acquired a new stake in Mechanics Bancorp during the third quarter valued at approximately $13,128,000. GW&K Investment Management LLC acquired a new stake in Mechanics Bancorp during the third quarter valued at approximately $12,051,000. Dimensional Fund Advisors LP bought a new position in Mechanics Bancorp during the 3rd quarter worth approximately $9,557,000. Finally, Siena Capital Partners GP LLC bought a new position in Mechanics Bancorp during the 3rd quarter worth approximately $4,705,000. 74.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on MCHB shares. Weiss Ratings upgraded Mechanics Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 25th. Wall Street Zen cut Mechanics Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, November 30th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Mechanics Bancorp presently has an average rating of “Hold” and a consensus target price of $14.50.

Mechanics Bancorp Stock Up 0.4%

MCHB opened at $14.22 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.07. The stock’s 50-day simple moving average is $14.91. Mechanics Bancorp has a fifty-two week low of $8.56 and a fifty-two week high of $16.02. The firm has a market capitalization of $3.15 billion, a price-to-earnings ratio of 44.44 and a beta of 1.55.

Mechanics Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Monday, March 9th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 9th. This represents a $1.60 annualized dividend and a dividend yield of 11.3%. Mechanics Bancorp’s dividend payout ratio is 500.00%.

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. 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.