Embassy Bancorp (OTCMKTS:EMYB) Approves Share Buyback Plan

Embassy Bancorp (OTCMKTS:EMYB) announced that its board has approved a share repurchase program on Monday, June 1st, RTT News reports. The company plans to buyback $5.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Embassy Bancorp Stock Performance

EMYB stock remained flat at $20.73 during trading on Monday. 4,463 shares of the company were exchanged, compared to its average volume of 6,520. Embassy Bancorp has a 52-week low of $14.76 and a 52-week high of $20.89. The firm’s 50-day moving average is $20.05 and its 200 day moving average is $19.19.

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. It provides loans, such as secured fixed and variable rate loans; commercial lending; consumer lending, including mortgage loans, first time home buyer mortgages, secured home equity loans, lines of credit; residential mortgage loans; and commercial mortgage/construction loans.