Affinity Bancshares (NASDAQ:AFBI) Stock Price Down 1.9% – Time to Sell?

Affinity Bancshares, Inc. (NASDAQ:AFBI)’s share price dropped 1.9% during trading on Friday . The stock traded as low as $19.30 and last traded at $19.3650. Approximately 7,494 shares changed hands during trading, a decline of 38% from the average daily volume of 12,052 shares. The stock had previously closed at $19.75.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated 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, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Affinity Bancshares Stock Performance

The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market capitalization of $119.44 million, a PE ratio of 16.84 and a beta of 0.46. The firm’s 50 day moving average price is $19.20 and its 200-day moving average price is $18.95.

Affinity Bancshares (NASDAQ:AFBI) last announced its quarterly earnings results on Friday, October 24th. The company reported $0.37 earnings per share for the quarter. The firm 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%.

Institutional Investors Weigh In On Affinity Bancshares

Institutional investors have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. increased its holdings in Affinity Bancshares by 49.2% in the 3rd quarter. Alliancebernstein L.P. now owns 546,552 shares of the company’s stock worth $10,778,000 after acquiring an additional 180,121 shares in the last quarter. Susquehanna International Group LLP lifted its holdings in Affinity Bancshares by 17.9% during the third 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 in the last quarter. Salzhauer Michael acquired a new stake in shares of Affinity Bancshares in the second quarter valued at about $276,000. Jane Street Group LLC acquired a new stake in shares of Affinity Bancshares in the first quarter valued at about $251,000. Finally, Maltese Capital Management LLC increased its stake in shares of Affinity Bancshares by 13.8% during the third quarter. Maltese Capital Management LLC now owns 53,480 shares of the company’s stock worth $1,055,000 after purchasing an additional 6,480 shares in the last quarter. Institutional investors and hedge funds own 39.31% of the company’s stock.

About Affinity Bancshares

Affinity Bancshares, Inc operates as the holding company for Affinity Bank that provides various banking products and services in Georgia. The company offers various deposit accounts, including savings accounts, checking accounts, certificates of deposit, and individual retirement accounts, as well as Kasasa (rewards) deposit program for checking accounts with interest rates or cash-back rewards.