Banc of California's delayed earnings date announcement is unusual, Stephens says
BUZZ-Banc of California's delayed earnings date announcement is unusual, Stephens says ** Regional lender Banc of California BANC.N early Tuesday announced it would release Q2 results before market opens on July 29
** Brokerage Stephens says BANC does not generally wait this late in an earnings month to announce the timing of release and call, adding that several investors were already on "high alert"
** "Interestingly, the new release and call time both line up with MCHB's release and call time. MCHB (Mechanics Bancorp) is a proven strategic buyer," Stephens analyst Andrew Terrell says
** "Naturally, we expect this to garner M&A speculation today, with BANC likely outperforming in trading," Terrell says
** BANC has $3.3 billion market cap, while Mechanics Bancorp has $3.58 billion value - LSEG data
** Banc of California and Mechanics Bancorp didn't immediately respond to Reuters' requests for comment
** As of last close, BANC stock down 10.7% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
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