Embassy Bancorp (OTCMKTS:EMYB) Share Price Passes Above 50 Day Moving Average – Here’s What Happened

Embassy Bancorp, Inc. (OTCMKTS:EMYB) shares passed above its fifty day moving average during trading on Monday . The stock has a fifty 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 traded.

Embassy Bancorp Price Performance

The business has a 50-day simple moving average of $20.60 and a two-hundred day simple moving average of $19.61.

Embassy Bancorp announced that its Board of Directors has approved a stock buyback plan on Monday, June 1st that permits the company to repurchase $5.00 million in outstanding shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board 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.