Shares of Wilmington Trust Co. of Wilmington, Del., have rallied in recent weeks after analyst Diane Yates of A.G. Edwards added the company to her coverage with a "buy" rating.

She gave the regional bank her top rating on July 21 and said she was impressed by its attempt to revamp its delivery channels. Closing branches, investing in modern automated teller machines and Internet banking, and investment management initiatives will increase the bank's revenue, she said. Though the stock is up more than 10% since Ms. Yates' report was issued July 27, it is still below its 12-month high of $55.125, which it reached Jan. 14.

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