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

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

Wall Street Analysts Forecast Growth

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

Affinity Bancshares Price Performance

NASDAQ:AFBI opened at $20.43 on Friday. Affinity Bancshares has a 12 month low of $17.00 and a 12 month high of $22.50. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.43. The stock has a 50 day moving average of $19.93 and a two-hundred day moving average of $19.41. The firm has a market cap of $126.05 million, a P/E ratio of 17.77 and a beta of 0.22.

Affinity Bancshares (NASDAQ:AFBI) last posted its quarterly 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%.

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.