Heavy trading in shares of City National Corp. last week has led to rumors that the Beverly Hills, Calif., company is on the block.

More than 1.7 million of City National's shares changed hands from Aug. 16 through 20, nearly two-and-one-half-times the average weekly volume. Last Wednesday a whopping 865,000 shares were traded, propelling the stock price above $36 a share for the first time in a month.

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