Short Interest in Affinity Bancshares, Inc. (NASDAQ:AFBI) Declines By 49.8%

Key Points

• Short interest in Affinity Bancshares fell by 49.8% in April to 5,924 shares, representing just 0.1% of the stock and a short-interest ratio of 0.2 days.
• Analyst and institutional activity is positive: Weiss Ratings upgraded AFBI to a Buy, MarketBeat shows an average "Buy" rating, and several hedge funds (including Jane Street, Susquehanna and Maltese) recently added or increased positions, with institutions owning 39.31% of shares.
• Key fundamentals: market cap $136.48M, P/E 17.37, last quarter EPS $0.36, and the board authorized a $300,000 share buyback (about 0.2% of outstanding shares).

Affinity Bancshares, Inc. (NASDAQ:AFBI - Get Free Report) saw a significant decline in short interest during the month of April. As of April 15th, there was short interest totaling 5,924 shares, a decline of 49.8% from the March 31st total of 11,802 shares. Based on an average daily volume of 24,027 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Affinity Bancshares from a "hold (c)" rating to a "buy (b)" rating in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Affinity Bancshares has an average rating of "Buy".

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. FNY Investment Advisers LLC bought a new position in shares of Affinity Bancshares in the third quarter worth about $53,000. Maltese Capital Management LLC grew its holdings in shares of Affinity Bancshares by 5.5% in the fourth quarter. Maltese Capital Management LLC now owns 56,439 shares of the company's stock worth $1,152,000 after purchasing an additional 2,959 shares during the last quarter. Susquehanna International Group LLP lifted its stake in Affinity Bancshares by 17.9% in the third quarter. Susquehanna International Group LLP now owns 25,346 shares of the company's stock worth $500,000 after acquiring an additional 3,850 shares during the period. Jane Street Group LLC purchased a new stake in Affinity Bancshares in the first quarter worth about $251,000. Finally, Salzhauer Michael purchased a new stake in Affinity Bancshares in the second quarter worth about $276,000. 39.31% of the stock is currently owned by institutional investors.

Affinity Bancshares Stock Performance

NASDAQ AFBI opened at $22.41 on Friday. The company's 50-day moving average price is $20.71 and its 200-day moving average price is $20.19. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.43. The stock has a market cap of $136.48 million, a PE ratio of 17.37 and a beta of 0.15. Affinity Bancshares has a 12 month low of $17.75 and a 12 month high of $22.50.

Affinity Bancshares (NASDAQ:AFBI - Get Free Report) last posted its quarterly earnings results on Friday, April 24th. The company reported $0.36 EPS for the quarter. The firm had revenue of $8.12 million for the quarter. Affinity Bancshares had a net margin of 15.74% and a return on equity of 7.25%.

Affinity Bancshares declared that its board has approved a share buyback program on Wednesday, January 7th that authorizes the company to repurchase $300,000.00 in outstanding shares. This repurchase authorization authorizes the company to purchase up to 0.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.

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.

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