Mechanics Bancorp (MCHB) to Distribute Quarterly Dividend of $0.25 on September 1st

Mechanics Bancorp (NASDAQ:MCHB) announced a quarterly dividend on Wednesday, August 19th. Investors of record on Saturday, August 29th will be paid a dividend of 0.25 per share on Tuesday, September 1st. This represents a c) annualized dividend and a yield of 6.1%. The ex-dividend date is Friday, August 28th.

Mechanics Bancorp Stock Down 2.0%

MCHB stock opened at $16.37 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.05. The firm has a 50-day moving average of $16.11 and a two-hundred day moving average of $15.31. Mechanics Bancorp has a 12 month low of $12.52 and a 12 month high of $17.38. The company has a market cap of $3.62 billion, a price-to-earnings ratio of 13.31 and a beta of 1.41.

Wall Street Analyst Weigh In

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

Mechanics Bancorp Company 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.