Shares of Crestar Financial Corp. rose 50 cents to $41.625 after coverage of the Richmond bank was initiated with a "buy" rating by analyst Michael A. Plodwick of C.J. Lawrence Inc,
Other bank stocks also turned in strong performances in late trading on Wednesday, led by MBNA Corp.'s gain of $1.125 to $29.25.
Meridian Bancorp was up 87.5 cents to $32.375, BankAmerica Corp. moved up 62.5 cents to $45.125, First Fidelity Bancorp. rose 62.5 cents to $49.125, and Marshall & Ilsley Corp. gained 75 cents to $25.
Also posting advances were PNC Bank Corp., up 75 cents to $32.625; Wells Fargo & Co., UP 75 cents to $110.50; and Shawmut National Corp., up 50 cents to $23.875.
On the other side of the ledger, Mellon Bank Corp. slipped 50 cents to $56.50, First Chicago Corp. edged down 25 cents to $41.50, and Keycorp was off 37.5 cents to $41.75.