BankGuam (OTCMKTS:BKGM) Declares Stock Repurchase Program

BankGuam (OTCMKTS:BKGM) declared that its Board of Directors has authorized a share buyback plan on Monday, May 4th, RTT News reports. The company plans to repurchase $500.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

BankGuam Stock Performance

Shares of BankGuam stock remained flat at $9,000.00 during mid-day trading on Monday. The company has a fifty day simple moving average of $8,300.20 and a 200-day simple moving average of $8,188.11. BankGuam has a one year low of $7,500.00 and a one year high of $10,250.00.

BankGuam Company Profile

BankGuam Holdings, Inc is a financial holding company that operates through its principal subsidiary, Bank of Guam. Headquartered in Tamuning, Guam, BankGuam offers a comprehensive suite of banking solutions designed to meet the needs of individuals, small and medium-sized enterprises, and institutional clients.

The company’s retail banking products include demand deposit accounts, savings and money market accounts, certificates of deposit, consumer and mortgage loans. On the commercial side, BankGuam provides commercial real estate financing, working capital lines of credit, equipment leasing and trade finance services.