Mechanics Bank (OTC:MCHB) Hits New 52-Week High – Should You Buy?

Mechanics Bank (OTC:MCHB) shares hit a new 52-week high during trading on Friday . The stock traded as high as $15.91 and last traded at $15.10, with a volume of 58969 shares traded. The stock had previously closed at $15.17.

Mechanics Bank Stock Up 0.6%

The firm has a market capitalization of $3.38 billion, a P/E ratio of -2.26 and a beta of 1.55. The firm has a 50 day moving average of $14.67 and a 200-day moving average of $10,416.27.

Institutional Trading of Mechanics Bank

Several large investors have recently modified their holdings of the stock. JCSD Capital LLC raised its stake in Mechanics Bank by 292.8% in the third 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 in the last quarter. Farther Finance Advisors LLC acquired a new stake in Mechanics Bank during the third quarter worth about $395,000. Finally, Burns Matteson Capital Management LLC bought a new position in Mechanics Bank in the 3rd quarter valued at about $200,000. 74.71% of the stock is owned by institutional investors and hedge funds.

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.