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

Embassy Bancorp (OTCMKTS:EMYB) declared that its Board of Directors has initiated a stock buyback plan on Monday, October 27th, RTT News reports. The company plans to repurchase $5.00 million in shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Embassy Bancorp Price Performance

Shares of EMYB stock opened at $17.65 on Tuesday. Embassy Bancorp has a 52-week low of $14.26 and a 52-week high of $17.65. The business has a 50-day simple moving average of $17.25 and a 200-day simple moving average of $16.17.

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.