Mechanics Bank $MCHB Shares Acquired by JCSD Capital LLC

JCSD Capital LLC boosted its stake in Mechanics Bank (OTC:MCHB) by 292.8% during the third quarter, Holdings Channel.com reports. The fund owned 63,051 shares of the company’s stock after purchasing an additional 47,000 shares during the quarter. Mechanics Bank comprises 0.7% of JCSD Capital LLC’s investment portfolio, making the stock its 13th biggest position. JCSD Capital LLC’s holdings in Mechanics Bank were worth $839,000 as of its most recent SEC filing.

Separately, Farther Finance Advisors LLC purchased a new stake in Mechanics Bank in the 3rd quarter worth $395,000. Institutional investors and hedge funds own 74.71% of the company’s stock.

Mechanics Bank Stock Performance

Shares of MCHB opened at $14.67 on Friday. The stock has a 50 day moving average price of $14.04 and a 200 day moving average price of $16,612.52. Mechanics Bank has a one year low of $8.41 and a one year high of $15.90. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of -2.17 and a beta of 1.54.

Wall Street Analysts Forecast Growth

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

Mechanics Bank Profile

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. It also provides home and auto loans; term loans and lines of credit, multi-family lending, commercial real estate loans, owner-occupied real estate loans, equipment financing, and trade services and letters of credit; and small business administration loans.