Affinity Bancshares (NASDAQ:AFBI) Stock Price Down 1.2% – Here’s Why

Shares of Affinity Bancshares, Inc. (NASDAQ:AFBI) traded down 1.2% during trading on Monday . The stock traded as low as $20.13 and last traded at $20.13. 698 shares changed hands during trading, a decline of 81% from the average session volume of 3,587 shares. The stock had previously closed at $20.37.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Affinity Bancshares in a research report on Wednesday, January 21st. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold”.

Affinity Bancshares Stock Performance

The firm has a market cap of $124.20 million, a P/E ratio of 15.60 and a beta of 0.23. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.08 and a current ratio of 1.08. The business’s 50-day simple moving average is $20.62 and its 200 day simple moving average is $19.80.

Affinity Bancshares (NASDAQ:AFBI) last released its quarterly earnings results on Friday, January 23rd. The company reported $0.40 earnings per share (EPS) for the quarter. Affinity Bancshares had a return on equity of 7.30% and a net margin of 15.74%.The firm had revenue of $8.57 million for the quarter.

Affinity Bancshares announced that its board has approved a share buyback plan on Wednesday, January 7th that allows the company to buyback $300,000.00 in outstanding shares. This buyback authorization allows the company to purchase up to 0.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Affinity Bancshares

Several institutional investors and hedge funds have recently modified their holdings of AFBI. Alliancebernstein L.P. grew its position in shares of Affinity Bancshares by 49.2% during the third quarter. Alliancebernstein L.P. now owns 546,552 shares of the company’s stock valued at $10,778,000 after purchasing an additional 180,121 shares in the last quarter. Beartown Capital Management LLC bought a new stake in shares of Affinity Bancshares in the 4th quarter worth about $623,000. Susquehanna International Group LLP raised its position in shares of Affinity Bancshares by 17.9% during the 3rd quarter. Susquehanna International Group LLP now owns 25,346 shares of the company’s stock valued at $500,000 after buying an additional 3,850 shares in the last quarter. Salzhauer Michael bought a new position in shares of Affinity Bancshares in the 2nd quarter valued at about $276,000. Finally, Jane Street Group LLC bought a new position in shares of Affinity Bancshares in the 1st quarter valued at about $251,000. Institutional investors own 39.31% of the company’s stock.

Affinity Bancshares Company Profile

Affinity Bancshares, Inc is a bank holding company whose primary subsidiary, Affinity Bank, offers a full range of financial products and services to individuals and businesses. Founded to serve the evolving banking needs of its communities, the company provides demand, savings and time deposit accounts, along with treasury management and online banking capabilities. It caters to retail and commercial clients seeking deposit, cash management and payment solutions.

On the lending side, Affinity Bank extends credit through commercial real estate loans, small business administration loans and traditional commercial lines of credit.