Mechanics Bancorp (NASDAQ:MCHB) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Mechanics Bancorp (NASDAQ:MCHB) to a hold rating in a research report released on Monday morning.

Separately, Keefe, Bruyette & Woods boosted their target price on shares of Mechanics Bancorp from $14.00 to $14.50 and gave the company a “market perform” rating in a research note on Monday. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $14.50.

Mechanics Bancorp Stock Down 1.1%

Mechanics Bancorp stock opened at $13.44 on Monday. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 3.14. Mechanics Bancorp has a one year low of $8.41 and a one year high of $14.66.

Institutional Investors Weigh In On Mechanics Bancorp

A hedge fund recently bought a new stake in Mechanics Bancorp stock. Miracle Mile Advisors LLC bought a new position in shares of Mechanics Bancorp (NASDAQ:MCHB) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,115,781 shares of the company’s stock, valued at approximately $14,851,000. Miracle Mile Advisors LLC owned about 5.90% of Mechanics Bancorp as of its most recent SEC filing. Institutional investors own 74.71% of the company’s stock.

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.