Mechanics Bancorp (NASDAQ:MCHB) Sees Large Volume Increase – Time to Buy?

Shares of Mechanics Bancorp (NASDAQ:MCHB) saw unusually-strong trading volume on Monday . Approximately 450,094 shares changed hands during trading, an increase of 165% from the previous session’s volume of 169,789 shares.The stock last traded at $14.03 and had previously closed at $13.67.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MCHB shares. Keefe, Bruyette & Woods upped their target price on Mechanics Bancorp from $14.00 to $14.50 and gave the company a “market perform” rating in a research report on Monday, October 20th. Weiss Ratings restated a “hold (c+)” rating on shares of Mechanics Bancorp in a research note on Tuesday. Finally, Wall Street Zen raised Mechanics Bancorp from a “hold” rating to a “buy” rating in a report on Saturday. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Mechanics Bancorp has a consensus rating of “Hold” and a consensus price target of $14.50.

Mechanics Bancorp Stock Up 3.6%

The firm has a market cap of $3.39 billion, a price-to-earnings ratio of -2.07 and a beta of 1.47. The company has a debt-to-equity ratio of 3.14, a current ratio of 1.03 and a quick ratio of 1.02.

Institutional Investors Weigh In On Mechanics Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the company. Comerica Bank acquired a new stake in Mechanics Bancorp during the third quarter worth about $34,000. AlphaQuest LLC bought a new stake in shares of Mechanics Bancorp during the 3rd quarter worth approximately $45,000. BNP Paribas Financial Markets acquired a new stake in shares of Mechanics Bancorp during the 3rd quarter worth approximately $48,000. Nisa Investment Advisors LLC acquired a new stake in shares of Mechanics Bancorp during the 3rd quarter worth approximately $57,000. Finally, Covestor Ltd bought a new position in Mechanics Bancorp in the third quarter valued at approximately $60,000. Institutional investors 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.