Mechanics Bancorp (MCHB) To Go Ex-Dividend on May 22nd

Mechanics Bancorp (NASDAQ:MCHB) announced a quarterly dividend on Wednesday, May 13th. Stockholders of record on Saturday, May 23rd will be given 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 19.2%. The ex-dividend date of this dividend is Friday, May 22nd. This is a 75.0% increase from Mechanics Bancorp’s previous quarterly dividend of $0.40.

Mechanics Bancorp Stock Up 2.4%

MCHB stock opened at $14.60 on Friday. The stock has a market capitalization of $3.23 billion, a P/E ratio of 19.47 and a beta of 1.42. The firm has a 50-day simple moving average of $14.80 and a 200-day simple moving average of $14.62. The company has a quick ratio of 0.81, a current ratio of 0.80 and a debt-to-equity ratio of 0.05. Mechanics Bancorp has a 52 week low of $11.83 and a 52 week high of $16.03.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MCHB. Weiss Ratings cut shares of Mechanics Bancorp from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday. Cantor Fitzgerald began coverage on shares of Mechanics Bancorp in a report on Friday, April 10th. They issued an “overweight” rating and a $17.00 target price on the stock. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Mechanics Bancorp from $16.00 to $15.50 and set a “market perform” rating on the stock in a report on Monday, May 4th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Mechanics Bancorp has an average rating of “Moderate Buy” and a consensus price target of $16.25.

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.