Short Interest in Affinity Bancshares, Inc. (NASDAQ:AFBI) Expands By 102.4%

Key Points

• Short interest surged 102.4% to 11,802 shares as of March 31 (from 5,831 on March 15), but still represents only 0.2% of shares outstanding and a days-to-cover ratio of 0.3.
• Affinity Bancshares has a market cap of ~$135.9M and a P/E of 17.29, reported $0.40 EPS for the quarter, and its board authorized a stock buyback of $300,000 (≈0.2% of shares); analysts' consensus rating is Hold.

Affinity Bancshares, Inc. (NASDAQ:AFBI - Get Free Report) was the recipient of a large growth in short interest in March. As of March 31st, there was short interest totaling 11,802 shares, a growth of 102.4% from the March 15th total of 5,831 shares. Based on an average daily trading volume, of 37,172 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.2% of the company's stock are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a "hold (c)" rating on shares of Affinity Bancshares in a research note on Wednesday, January 21st. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, Affinity Bancshares presently has a consensus rating of "Hold".

Affinity Bancshares Stock Performance

AFBI stock opened at $22.31 on Friday. Affinity Bancshares has a 1 year low of $17.50 and a 1 year high of $22.50. The stock has a market capitalization of $135.87 million, a price-to-earnings ratio of 17.29 and a beta of 0.15. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.12 and a current ratio of 1.12. The stock's fifty day moving average is $20.34 and its two-hundred day moving average is $20.00.

Affinity Bancshares (NASDAQ:AFBI - Get Free Report) last issued its quarterly earnings data on Friday, January 23rd. The company reported $0.40 earnings per share (EPS) for the quarter. The business had revenue of $8.57 million during the quarter. Affinity Bancshares had a return on equity of 7.25% and a net margin of 15.74%.

Affinity Bancshares declared that its Board of Directors has initiated a stock buyback program on Wednesday, January 7th that allows the company to repurchase $300,000.00 in outstanding shares. This repurchase authorization allows the company to buy up to 0.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Affinity Bancshares

Several large investors have recently modified their holdings of AFBI. FNY Investment Advisers LLC purchased a new stake in shares of Affinity Bancshares in the 3rd quarter valued at approximately $53,000. Jane Street Group LLC purchased a new position in Affinity Bancshares during the 1st quarter worth approximately $251,000. Salzhauer Michael purchased a new position in Affinity Bancshares during the 2nd quarter worth approximately $276,000. Susquehanna International Group LLP grew its position in Affinity Bancshares by 17.9% during the 3rd quarter. Susquehanna International Group LLP now owns 25,346 shares of the company's stock worth $500,000 after purchasing an additional 3,850 shares in the last quarter. Finally, Beartown Capital Management LLC purchased a new position in Affinity Bancshares during the 4th quarter worth approximately $623,000. 39.31% of the stock is owned by institutional investors.

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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