Shares of Glendale Federal Bank advanced in active trading Thursday after analyst Gary Gordon of PaineWebber Inc. sharply raised his earnings estimates and lifted his investment rating to "attractive" from "neutral."

The stock of the California thrift institution, the nation's seventh largest with assets of $16 billion, gained was up 50 cents, or 4.2%, to $12.50 per share in afternoon trading.

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.