Share Buyback Program Initiated by Affinity Bancshares (NASDAQ:AFBI)

Affinity Bancshares (NASDAQ:AFBI) announced that its Board of Directors has initiated a stock buyback program on Wednesday, January 7th, RTT News reports. The company plans to buyback $300,000.00 in shares. This buyback authorization authorizes the company to reacquire up to 0.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Affinity Bancshares in a research note on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Affinity Bancshares has a consensus rating of “Hold”.

Affinity Bancshares Price Performance

NASDAQ AFBI traded up $0.26 during trading hours on Wednesday, hitting $20.31. The company had a trading volume of 704 shares, compared to its average volume of 2,477. 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 firm has a market capitalization of $125.32 million, a price-to-earnings ratio of 17.66 and a beta of 0.22. Affinity Bancshares has a 52 week low of $17.00 and a 52 week high of $22.50. The firm has a 50 day simple moving average of $19.90 and a 200 day simple moving average of $19.41.

Affinity Bancshares (NASDAQ:AFBI) last posted its earnings results on Friday, October 24th. The company reported $0.37 earnings per share (EPS) for the quarter. Affinity Bancshares had a net margin of 14.55% and a return on equity of 6.61%. The business had revenue of $8.36 million for the quarter.

About Affinity Bancshares

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.