Affinity Bancshares (NASDAQ:AFBI) to Repurchase $300,000.00 in Stock

Affinity Bancshares (NASDAQ:AFBI) announced that its Board of Directors has authorized a stock buyback 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 buy up to 0.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Affinity Bancshares Stock Down 1.4%

Shares of AFBI opened at $20.15 on Friday. 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 company has a 50-day moving average price of $19.95 and a two-hundred day moving average price of $19.42. The stock has a market cap of $124.33 million, a price-to-earnings ratio of 17.52 and a beta of 0.22. Affinity Bancshares has a 12 month low of $17.00 and a 12 month high of $22.50.

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

Wall Street Analysts Forecast Growth

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