BankGuam (OTCMKTS:BKGM) to Repurchase $500.00 billion in Shares

BankGuam (OTCMKTS:BKGM) declared that its board has initiated a stock buyback program on Monday, May 4th, RTT News reports. The company plans to buyback $500.00 billion in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

BankGuam Stock Performance

BKGM stock remained flat at $9,000.00 during trading on Monday. The firm’s 50 day moving average price is $8,300.20 and its two-hundred day moving average price is $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.