Short Interest in Affinity Bancshares, Inc. (NASDAQ:AFBI) Decreases By 40.2%

Key Points

• Short interest in Affinity Bancshares, Inc. (NASDAQ:AFBI) decreased by 40.2% in September, dropping from 9,200 shares to 5,500 shares.
• Currently, the company's stock has a short-interest ratio of 0.6 days based on an average daily trading volume of 9,700 shares.
• Weiss Ratings has maintained a "hold" rating for Affinity Bancshares amidst a recent increase in institutional ownership, which now stands at 39.31% of the company's stock.

Affinity Bancshares, Inc. (NASDAQ:AFBI - Get Free Report) was the recipient of a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 5,500 shares, a drop of 40.2% from the September 15th total of 9,200 shares. Currently, 0.1% of the company's stock are short sold. Based on an average daily trading volume, of 9,700 shares, the short-interest ratio is currently 0.6 days. Based on an average daily trading volume, of 9,700 shares, the short-interest ratio is currently 0.6 days. Currently, 0.1% of the company's stock are short sold.

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 investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of "Hold".

Affinity Bancshares Price Performance

AFBI opened at $18.76 on Tuesday. The business's 50-day moving average is $19.43 and its two-hundred day moving average is $18.78. Affinity Bancshares has a 1 year low of $17.00 and a 1 year high of $22.50. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $118.00 million, a PE ratio of 17.53 and a beta of 0.45.

Affinity Bancshares (NASDAQ:AFBI - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.21 earnings per share (EPS) for the quarter. Affinity Bancshares had a return on equity of 6.05% and a net margin of 13.78%.The company had revenue of $7.33 million for the quarter.

Insider Activity at Affinity Bancshares

In other news, insider Robert Vickers sold 7,565 shares of the firm's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $19.47, for a total transaction of $147,290.55. Following the transaction, the insider owned 2,800 shares in the company, valued at approximately $54,516. This trade represents a 72.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 12.35% of the company's stock.

Hedge Funds Weigh In On Affinity Bancshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tabor Asset Management LP purchased a new position in Affinity Bancshares in the first quarter valued at about $2,508,000. Salzhauer Michael purchased a new position in Affinity Bancshares in the second quarter valued at about $276,000. Finally, Jane Street Group LLC purchased a new position in Affinity Bancshares in the first quarter valued at about $251,000. Hedge funds and other institutional investors 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.

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