Affinity Bancshares (NASDAQ:AFBI) Releases Earnings Results

Affinity Bancshares (NASDAQ:AFBI) announced its quarterly earnings data on Friday. The company reported $0.40 earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $8.57 million during the quarter. Affinity Bancshares had a return on equity of 6.61% and a net margin of 14.55%.

Affinity Bancshares Trading Down 0.2%

AFBI traded down $0.04 on Friday, hitting $20.31. The company had a trading volume of 12,534 shares, compared to its average volume of 3,449. Affinity Bancshares has a 12-month low of $17.00 and a 12-month high of $22.50. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.43. The business’s fifty day simple moving average is $20.23 and its 200 day simple moving average is $19.54. The company has a market cap of $125.31 million, a PE ratio of 17.66 and a beta of 0.22.

Affinity Bancshares declared that its Board of Directors has approved a share buyback plan on Wednesday, January 7th that allows the company to repurchase $300,000.00 in shares. This repurchase authorization allows the company to buy up to 0.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Affinity Bancshares

Large investors have recently made changes to their positions in the company. Maltese Capital Management LLC lifted its stake in Affinity Bancshares by 13.8% in the third quarter. Maltese Capital Management LLC now owns 53,480 shares of the company’s stock worth $1,055,000 after acquiring an additional 6,480 shares during the period. FNY Investment Advisers LLC purchased a new position in Affinity Bancshares during the 3rd quarter valued at about $53,000. Susquehanna International Group LLP increased its position in 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 purchasing an additional 3,850 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Affinity Bancshares by 49.2% in the 3rd 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. Finally, Salzhauer Michael purchased a new stake in shares of Affinity Bancshares in the 2nd quarter worth approximately $276,000. 39.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Affinity Bancshares in a research report on Wednesday. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold”.

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.