MECHANICS BANCORP
In the published model solve dated 2026-Q2, anchored at $16.15, MECHANICS BANCORP (MCHB) is priced for 12.7% return on equity. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed June 27, 2026 from SEC EDGAR filings.
Mechanics Bancorp is a newly enlarged California bank, formed when HomeStreet Bank merged into Mechanics Bank in September 2025. The story is integration and book-value normalization, not a clean run rate yet. Every valuation family supports the price. At $14.67 the stock sits near book value of $12.61 per share, with asset, earnings-power, peer-multiple, and growth frames all clustered around it. The near-term numbers are distorted by the merger. Q1 2026 net income of $44.1 million fell from
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126 institutional managers reported holding MCHB in 13F filings for the quarter ended 2026-03-31. Together they hold about 12% of the company; the top 10 hold 7%. 19 opened new positions that quarter. Held by BlackRock, Vanguard Group, State Street, among others. On the short side, 3.8M shares were sold short as of the 2026-06-15 count, about 2% of shares outstanding (8 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
It pays a dividend, and has for 1 year running; the current rate is $0.65 a share annually. Cash returned over the past three years: $144.88M in dividends.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at MCHB over the trailing three years: 2024: 4 buys totaling $129k. 26 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
MCHB's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-05 | -0.4% | -33.9% |
| 2023-11-08 | +7.3% | +89.0% |
| 2024-03-07 | -3.0% | -31.3% |
| 2024-05-10 | -11.8% | +23.0% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
MCHB's latest 8-K filings: 2026-07-29 (items 2.02, 7.01, 9.01); 2026-06-01 (items 5.07); 2026-05-13 (items 8.01, 9.01); 2026-05-05 (items 8.01); 2026-04-30 (items 2.02, 7.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.