Mechanics Bancorp (MCHB) to Issue Quarterly Dividend of $0.70 on May 28th

Mechanics Bancorp (NASDAQ:MCHB) declared a quarterly dividend on Wednesday, May 13th. Investors of record on Saturday, May 23rd will be paid a dividend of 0.70 per share on Thursday, May 28th. This represents a c) dividend on an annualized basis and a dividend yield of 19.1%. The ex-dividend date is Friday, May 22nd. This is a 75.0% increase from Mechanics Bancorp’s previous quarterly dividend of $0.40.

Mechanics Bancorp Stock Performance

Shares of NASDAQ MCHB opened at $14.64 on Wednesday. The business has a fifty day simple moving average of $14.77 and a 200 day simple moving average of $14.64. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 19.52 and a beta of 1.42. Mechanics Bancorp has a one year low of $11.83 and a one year high of $16.03.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC acquired a new stake in shares of Mechanics Bancorp in the third quarter valued at $57,000. Covestor Ltd acquired a new stake in shares of Mechanics Bancorp in the third quarter valued at $60,000. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Mechanics Bancorp in the third quarter valued at $805,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Mechanics Bancorp in the third quarter valued at $188,000. Finally, CCG Wealth Management LLC acquired a new stake in shares of Mechanics Bancorp in the third quarter valued at $2,277,000. 74.71% of the stock is currently owned by institutional investors and hedge funds.

About Mechanics Bancorp

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.