Raffles Associates LP Takes Position in Affinity Bancshares, Inc. $AFBI

Raffles Associates LP bought a new position in shares of Affinity Bancshares, Inc. (NASDAQ:AFBI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 41,230 shares of the company’s stock, valued at approximately $932,000. Affinity Bancshares comprises about 0.8% of Raffles Associates LP’s holdings, making the stock its 26th largest position. Raffles Associates LP owned 0.68% of Affinity Bancshares at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Alliancebernstein L.P. boosted its position in shares of Affinity Bancshares by 49.2% during 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. Flywheel Private Wealth LLC bought a new stake in Affinity Bancshares in the first quarter worth approximately $913,000. Beartown Capital Management LLC bought a new stake in Affinity Bancshares in the fourth quarter worth approximately $623,000. Gabelli Funds LLC acquired a new position in Affinity Bancshares in the first quarter valued at approximately $640,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in Affinity Bancshares in the first quarter valued at approximately $622,000. Institutional investors and hedge funds own 39.31% of the company’s stock.

Affinity Bancshares Price Performance

AFBI stock opened at $23.00 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.12 and a quick ratio of 1.12. The company’s 50-day moving average is $22.81 and its 200-day moving average is $21.88. The stock has a market capitalization of $140.19 million, a PE ratio of 16.79 and a beta of 0.13. Affinity Bancshares, Inc. has a 1 year low of $18.35 and a 1 year high of $23.00.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Affinity Bancshares in a research report on Monday, July 13th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

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.