Mechanics Bank (OTC:MCHB) Hits New 12-Month High – Time to Buy?

Mechanics Bank (OTC:MCHB)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $16.02 and last traded at $15.96, with a volume of 244791 shares. The stock had previously closed at $15.67.

Mechanics Bank Stock Down 0.1%

The company has a market capitalization of $3.46 billion, a PE ratio of 48.94 and a beta of 1.57. The firm’s 50-day moving average is $14.75 and its 200-day moving average is $7,951.06.

Hedge Funds Weigh In On Mechanics Bank

A number of large investors have recently bought and sold shares of the stock. Burns Matteson Capital Management LLC purchased a new position in shares of Mechanics Bank in the third quarter valued at about $200,000. Farther Finance Advisors LLC bought a new stake in shares of Mechanics Bank in the third quarter worth about $395,000. Finally, JCSD Capital LLC increased its holdings in Mechanics Bank by 292.8% during the 3rd quarter. JCSD Capital LLC now owns 63,051 shares of the company’s stock valued at $839,000 after purchasing an additional 47,000 shares during the period. 74.71% of the stock is owned by hedge funds and other institutional investors.

Mechanics Bank Company Profile

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. It also provides home and auto loans; term loans and lines of credit, multi-family lending, commercial real estate loans, owner-occupied real estate loans, equipment financing, and trade services and letters of credit; and small business administration loans.