Mechanics Bancorp (NASDAQ:MCHB) Issues Quarterly Earnings Results

Mechanics Bancorp (NASDAQ:MCHB - Get Free Report) announced its quarterly earnings data on Friday. The company reported $0.56 earnings per share for the quarter, Zacks reports. Mechanics Bancorp had a negative net margin of 14.49% and a positive return on equity of 4.74%.Get Mechanics Bancorp alerts:Mechanics Bancorp Stock PerformanceShares of MCHB stock traded down $0.10 on Friday, reaching $15.07. 247,796 shares of the company were exchanged, compared to its average volume of 387,141. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.82 and a current ratio of 0.82. Mechanics Bancorp has a 1 year low of $8.41 and a 1 year high of $15.91. The company has a market cap of $3.33 billion, a P/E ratio of -2.23 and a beta of 1.55. The firm has a 50-day moving average of $14.67. Mechanics Bancorp Dividend AnnouncementThe business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 8th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 5.6%. Mechanics Bancorp's dividend payout ratio (DPR) is currently -12.43%. Institutional Inflows and OutflowsSeveral institutional investors and hedge funds have recently modified their holdings of MCHB. Comerica Bank purchased a new stake in Mechanics Bancorp during the 3rd quarter worth approximately $34,000. BNP Paribas Financial Markets acquired a new stake in shares of Mechanics Bancorp in the 3rd quarter valued at about $48,000. Bank of America Corp DE purchased a new position in shares of Mechanics Bancorp during the third quarter worth approximately $98,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Mechanics Bancorp during the third quarter worth about $112,000. Finally, JPMorgan Chase & Co. purchased a new position in Mechanics Bancorp in the 3rd quarter valued at $118,000. Institutional investors and hedge funds own 74.71% of the company's stock. Wall Street Analyst Weigh InA number of research firms recently weighed in on MCHB. Wall Street Zen lowered shares of Mechanics Bancorp from a "buy" rating to a "hold" rating in a research note on Sunday, November 30th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Mechanics Bancorp in a report on Monday, December 29th. Finally, Keefe, Bruyette & Woods boosted their price target on Mechanics Bancorp from $14.00 to $14.50 and gave the stock a "market perform" rating in a research report on Monday, October 20th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $14.50.Read Our Latest Research Report on Mechanics BancorpMechanics Bancorp Company Profile (Get Free Report)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.Featured ArticlesFive stocks we like better than Mechanics BancorpWhat a Former CIA Agent Knows About the Coming CollapseDo not delete, read immediatelyRefund From 1933: Trump’s Reset May Create Instant WealthThe Crash Has Already Started (Most Just Don’t See It Yet)A month before the crashThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Mechanics Bancorp Right Now?Before you consider Mechanics Bancorp, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Mechanics Bancorp wasn't on the list.While Mechanics Bancorp currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here