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Share Price Tops $20 at Investment Firm Morgan Keegan.(Originated from The Commercial Appeal, Memphis, Tenn.)
Knight Ridder/Tribune Business News, February, 1997 by Flaum, David
MEMPHIS, Tenn.--Feb. 7--Morgan Keegan Inc. topped $20 per share -- on a split adjusted basis -- for the first time ever Thursday as takeover speculation within the brokerage industry pushed shares of regional firms higher.
Morgan Keegan stock rose 62.5 cents to $20.37 1/2 per share in New York Stock Exchange trading of 191,300 shares Thursday.
The heavier-than-normal trading followed a 155,300-share trading day on Wednesday. During the past three months, an average of 26,000 Morgan Keegan shares changed hands each day.
Over the past month, Morgan Keegan shares are up 19 percent.
"We've seen significant price increases in several of the regional brokerage firms based primarily on takeover speculation," said Michael...
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