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

Embassy Bancorp (OTCMKTS:EMYB) declared that its Board of Directors has initiated a stock repurchase plan on Monday, June 1st, RTT News reports. The company plans to buyback $5.00 million in outstanding shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Embassy Bancorp Stock Performance

Shares of EMYB remained flat at $20.73 on Monday. 4,463 shares of the company traded hands, compared to its average volume of 6,520. The firm has a 50-day moving average price of $20.05 and a 200 day moving average price of $19.19. Embassy Bancorp has a fifty-two week low of $14.76 and a fifty-two week high of $20.89.

About Embassy Bancorp

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.