Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Mechanics Bancorp (NASDAQ:MCHB) Stock

Mechanics Bancorp (NASDAQ:MCHB) had its price target boosted by stock analysts at Keefe, Bruyette & Woods from $14.00 to $14.50 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 6.70% from the company’s previous close.

Mechanics Bancorp Stock Down 0.4%

Mechanics Bancorp stock opened at $13.59 on Monday. The company has a debt-to-equity ratio of 3.14, a quick ratio of 1.02 and a current ratio of 1.03. Mechanics Bancorp has a fifty-two week low of $8.41 and a fifty-two week high of $14.71.

Institutional Trading of Mechanics Bancorp

An institutional investor recently bought a new position in Mechanics Bancorp stock. Miracle Mile Advisors LLC purchased a new position in shares of Mechanics Bancorp (NASDAQ:MCHB) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,115,781 shares of the company’s stock, valued at approximately $14,851,000. Miracle Mile Advisors LLC owned 5.90% of Mechanics Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 74.71% of the company’s stock.

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.