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The purchases can be made in theopen market, and at timesd and amounts deemed appropriate by the bank's officials said in a news release. Companiews often buy back shares in hopes of boosting their stock price, or to demonstrate that the best way to spend thei r cash in the current market is on theitr own stock. "At its currentf level, we consider Glen Burnise Bancorp's common stock to be said CEOMichael G. Livingston. "Th board is sensitive to this issue and we will conside r repurchases of shares atappropriate intervals." Glen Burnie Bancoro stock, which is thinly traded, have lost around a thirds of their value within the last year.
An averagre of 1,000 shares of the bank's stock is tradexd a day. The bank' stock is currently trading at $10.25 a share. Glen Burniew Bancorp (NASDAQ: GLBZ) is the parent company of the . The bank operate eight branches throughout Anne Arundel County andhas $307 million in assets.
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