Stock Repurchase Program Approved by Affinity Bancshares (NASDAQ:AFBI)

Affinity Bancshares (NASDAQ:AFBI) declared that its board has approved a share repurchase program on Wednesday, January 7th, RTT News reports. The company plans to buyback $300,000.00 in outstanding shares. This buyback authorization permits the company to repurchase up to 0.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Affinity Bancshares in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold”.

Affinity Bancshares Price Performance

NASDAQ:AFBI traded up $0.26 during mid-day trading on Wednesday, reaching $20.31. 704 shares of the company were exchanged, compared to its average volume of 2,477. 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 stock has a market cap of $125.32 million, a PE ratio of 17.66 and a beta of 0.22. The company has a fifty day moving average of $19.90 and a 200 day moving average of $19.41. Affinity Bancshares has a 12 month low of $17.00 and a 12 month high of $22.50.

Affinity Bancshares (NASDAQ:AFBI) last announced its quarterly 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 company had revenue of $8.36 million during the quarter.

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.