Julius Bär Gruppe (OTCMKTS:JBAXY) Stock Breaks Above 200 Day Moving Average – What’s Next?

Julius Bär Gruppe AG (OTCMKTS:JBAXY) shares passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $16.90 and traded as high as $17.60. Julius Bär Gruppe shares last traded at $17.60, with a volume of 52,180 shares changing hands.

Julius Bär Gruppe Stock Performance

The firm has a 50 day simple moving average of $17.39 and a two-hundred day simple moving average of $16.89.

Julius Bär Gruppe declared that its Board of Directors has authorized a share repurchase program on Friday, October 2nd that allows the company to buy back outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Julius Bär Gruppe Company Profile

Julius Bär Gruppe AG is a Swiss private banking group headquartered in Zurich. Founded in 1890, the company focuses on wealth management for private clients, entrepreneurs, family offices and institutional investors rather than providing broad-based retail banking services.

Its services include investment advisory and discretionary portfolio management, securities execution and custody, wealth and succession planning, Lombard lending and other financing solutions. Julius Baer also provides investment research and access to financial markets, with offerings tailored to clients’ investment objectives, risk profiles and jurisdictions.

The group serves clients through a network spanning Switzerland, Europe, the Americas, Asia and the Middle East.