GW&K Investment Management LLC Makes New $12.05 Million Investment in Mechanics Bancorp $MCHB

GW&K Investment Management LLC bought a new stake in shares of Mechanics Bancorp (NASDAQ:MCHB) in the 3rd quarter, Holdings Channel reports. The firm bought 905,380 shares of the company’s stock, valued at approximately $12,051,000.

A number of other hedge funds have also recently modified their holdings of MCHB. AlphaQuest LLC bought a new stake in shares of Mechanics Bancorp during the 3rd quarter worth approximately $45,000. Nisa Investment Advisors LLC purchased a new stake in shares of Mechanics Bancorp during the third quarter valued at $57,000. Covestor Ltd purchased a new stake in shares of Mechanics Bancorp during the third quarter valued at $60,000. JPMorgan Chase & Co. bought a new stake in Mechanics Bancorp during the 3rd quarter valued at about $118,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Mechanics Bancorp in the 3rd quarter worth about $188,000. Institutional investors own 74.71% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on MCHB. Wall Street Zen cut Mechanics Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, November 30th. Weiss Ratings raised Mechanics Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Mechanics Bancorp currently has an average rating of “Moderate Buy” and an average target price of $14.50.

Mechanics Bancorp Stock Performance

Shares of Mechanics Bancorp stock opened at $14.80 on Friday. The company has a market capitalization of $3.27 billion, a P/E ratio of 46.25 and a beta of 1.55. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.82 and a quick ratio of 0.82. The business has a 50-day moving average price of $14.95. Mechanics Bancorp has a one year low of $8.41 and a one year high of $16.02.

Mechanics Bancorp Announces Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, March 19th. Investors of record on Monday, March 9th will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, March 9th. Mechanics Bancorp’s payout ratio is 262.50%.

Mechanics Bancorp 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. 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.