Mechanics Bancorp $MCHB Shares Sold by Stieven Capital Advisors L.P.

Stieven Capital Advisors L.P. cut its stake in Mechanics Bancorp (NASDAQ:MCHB) by 17.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 480,235 shares of the company’s stock after selling 101,500 shares during the quarter. Stieven Capital Advisors L.P.’s holdings in Mechanics Bancorp were worth $7,026,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Mechanics Bank Trust Department acquired a new position in Mechanics Bancorp in the fourth quarter valued at approximately $50,082,000. Mendon Capital Advisors Corp purchased a new stake in shares of Mechanics Bancorp in the third quarter valued at approximately $14,043,000. Maltese Capital Management LLC purchased a new stake in shares of Mechanics Bancorp in the third quarter valued at approximately $13,498,000. Vanguard Group Inc. purchased a new stake in shares of Mechanics Bancorp in the third quarter valued at approximately $13,128,000. Finally, GW&K Investment Management LLC purchased a new stake in shares of Mechanics Bancorp in the third quarter valued at approximately $12,051,000. 74.71% of the stock is owned by institutional investors and hedge funds.

Mechanics Bancorp Stock Down 5.4%

NASDAQ MCHB opened at $14.15 on Friday. The business has a fifty day moving average price of $14.80 and a 200 day moving average price of $14.66. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $3.13 billion, a P/E ratio of 18.87 and a beta of 1.42. Mechanics Bancorp has a one year low of $11.83 and a one year high of $16.03.

Mechanics Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Saturday, May 23rd will be paid a dividend of $0.70 per share. This is a boost from Mechanics Bancorp’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $2.80 annualized dividend and a yield of 19.8%. Mechanics Bancorp’s dividend payout ratio is presently 213.33%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Weiss Ratings cut Mechanics Bancorp from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Cantor Fitzgerald assumed coverage on Mechanics Bancorp in a research report on Friday, April 10th. They issued an “overweight” rating and a $17.00 price objective for the company. Finally, Keefe, Bruyette & Woods cut their price objective on Mechanics Bancorp from $16.00 to $15.50 and set a “market perform” rating for the company in a research report on Monday, May 4th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $16.25.

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. 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.