NationsBank Corp.'s share price jumped $1.25 to close at $49.25 in heavy trading Thursday, as investors reacted to the banking company's plans to buy back up to 20 million common shares, or 7.2% of the 276 million shares outstanding.

At least one analyst raised his estimate of NationsBank's earnings per share for 1995, and others are likely to follow.

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.