Embassy Bancorp (OTCMKTS:EMYB) Stock Price Passes Above 50 Day Moving Average – Here’s What Happened
by Sarita Garza · The Markets DailyEmbassy Bancorp, Inc. (OTCMKTS:EMYB – Get Free Report) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $20.60 and traded as high as $21.93. Embassy Bancorp shares last traded at $21.90, with a volume of 1,248 shares.
Embassy Bancorp Stock Performance
The firm’s 50-day simple moving average is $20.67 and its two-hundred day simple moving average is $19.66.
Embassy Bancorp announced that its board has approved a stock repurchase program on Monday, June 1st that authorizes the company to buyback $5.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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.