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

Quantinno Capital Management LP bought a new stake in shares of Mechanics Bancorp (NASDAQ:MCHB) in the first quarter, Holdings Channel.com reports. The institutional investor bought 55,119 shares of the company’s stock, valued at approximately $813,000.

Several other institutional investors also recently bought and sold shares of MCHB. Sculptor Capital LP acquired a new stake in Mechanics Bancorp in the first quarter valued at approximately $7,563,000. Mendon Capital Advisors Corp acquired a new position in shares of Mechanics Bancorp during the first quarter worth $5,127,000. Waverly Advisors LLC purchased a new stake in shares of Mechanics Bancorp during the 1st quarter valued at $1,302,000. Assetmark Inc. purchased a new stake in shares of Mechanics Bancorp during the 1st quarter valued at $51,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Mechanics Bancorp by 1.3% in the 1st quarter. Bank of New York Mellon Corp now owns 1,098,400 shares of the company’s stock worth $16,201,000 after purchasing an additional 13,648 shares in the last quarter. 74.71% of the stock is currently owned by institutional investors and hedge funds.

Mechanics Bancorp Stock Performance

Shares of MCHB stock opened at $16.75 on Tuesday. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of 13.62 and a beta of 1.41. 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 business has a fifty day moving average of $16.02 and a 200 day moving average of $15.28. Mechanics Bancorp has a 1 year low of $12.52 and a 1 year high of $17.38.

Analysts Set New Price Targets

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

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.