Amid Thursday's tumble in bank stocks, shares of Andover (Mass.) Bancorp climbed nearly 7.5% on takeover speculation.

The $1.3 billion-asset banking company's share price rose $2.50 in heavy trading, closing at $36.

Analysts who follow Andover said the rumors began several weeks ago when the stock advanced sharply. Peoples Heritage Financial Group in Portland, Maine, and Boston's UST Corp. have been mentioned as possible suitors.

Brian Arsenault, a Peoples Heritage spokesman, said the company "won't be announcing any acquisition in the foreseeable future."

An Andover spokesman declined to comment on the rumors.

- Staff and wire reports

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