Siena Capital Partners GP LLC Purchases New Position in Mechanics Bancorp $MCHB

Siena Capital Partners GP LLC purchased a new stake in Mechanics Bancorp (NASDAQ:MCHB) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 353,216 shares of the company’s stock, valued at approximately $4,705,000. Mechanics Bancorp comprises about 1.3% of Siena Capital Partners GP LLC’s investment portfolio, making the stock its 24th largest position. Siena Capital Partners GP LLC owned 1.87% of Mechanics Bancorp as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Miracle Mile Advisors LLC acquired a new position in shares of Mechanics Bancorp in the 3rd quarter valued at $14,851,000. Vanguard Group Inc. purchased a new stake in Mechanics Bancorp in the third quarter valued at $13,128,000. Capital Planning Advisors LLC acquired a new position in Mechanics Bancorp in the third quarter valued at $4,350,000. CCG Wealth Management LLC purchased a new position in shares of Mechanics Bancorp during the third quarter worth about $2,277,000. Finally, CenterBook Partners LP acquired a new stake in shares of Mechanics Bancorp during the third quarter worth about $1,437,000. Institutional investors and hedge funds own 74.71% of the company’s stock.

Wall Street Analyst Weigh In

MCHB has been the subject of a number of research analyst reports. Weiss Ratings raised Mechanics Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday. Wall Street Zen cut Mechanics Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, November 30th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $14.50.

Mechanics Bancorp Trading Down 5.1%

NASDAQ:MCHB opened at $14.26 on Friday. Mechanics Bancorp has a 12-month low of $8.41 and a 12-month high of $16.02. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.82 and a current ratio of 0.82. The company has a 50 day moving average of $14.88. The firm has a market capitalization of $3.15 billion, a price-to-earnings ratio of 44.56 and a beta of 1.57.

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.