Shares of MNC Financial Inc. soared Wednesday on heavy volume amid rumors that a buyout could be near for the Baltimore banking company.

MNC, which has been hobbled by problem real estate loans, saw its stock jump $1, to $12, in afternoon turnover, with more than two million shares traded. It was the second most active banking issue, behind Citicorp, on the New York Stock Exchange.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.