Embassy Bancorp (OTCMKTS:EMYB) to Buyback $5.00 million in Shares

Embassy Bancorp (OTCMKTS:EMYB) announced that its Board of Directors has authorized a share buyback program on Monday, October 27th, RTT News reports. The company plans to repurchase $5.00 million in shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Embassy Bancorp Stock Performance

Shares of Embassy Bancorp stock opened at $17.65 on Thursday. The firm has a fifty day simple moving average of $17.30 and a 200-day simple moving average of $16.21. Embassy Bancorp has a 1-year low of $14.26 and a 1-year high of $17.65.

Embassy Bancorp Company Profile

Embassy Bancorp, Inc operates as the bank holding company for the Embassy Bank for the Lehigh Valley that provides traditional banking and related financial services to individual, business, and government customers in Pennsylvania. The company offers demand deposits, savings, money market, time deposits, individual retirement, and NOW accounts; and certificates of deposit.