Mechanics Bank (OTC:MCHB) Sets New 12-Month High – What’s Next?

Mechanics Bank (OTC:MCHB)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $14.66 and last traded at $14.48, with a volume of 48891 shares changing hands. The stock had previously closed at $14.19.

Analyst Upgrades and Downgrades

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

Mechanics Bank Price Performance

The firm has a market capitalization of $3.34 billion, a PE ratio of -2.23 and a beta of 1.47. The company has a fifty day moving average of $13.41 and a 200-day moving average of $21,983.36.

Institutional Investors Weigh In On Mechanics Bank

Institutional investors have recently made changes to their positions in the company. Burns Matteson Capital Management LLC bought a new stake in shares of Mechanics Bank in the 3rd quarter valued at approximately $200,000. Farther Finance Advisors LLC acquired a new stake in Mechanics Bank in the third quarter valued at approximately $395,000. Finally, JCSD Capital LLC lifted its stake in Mechanics Bank by 292.8% in the third quarter. JCSD Capital LLC now owns 63,051 shares of the company’s stock valued at $839,000 after acquiring an additional 47,000 shares during the last quarter. 74.71% of the stock is currently owned by institutional investors and hedge funds.

About Mechanics Bank

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.