Weiss Ratings Reaffirms Hold (C) Rating for Affinity Bancshares (NASDAQ:AFBI)

Key Points

• Weiss Ratings has reaffirmed its "hold (C)" rating for Affinity Bancshares (NASDAQ:AFBI) in a recent research note, indicating a neutral outlook on the stock.
• Affinity Bancshares saw a slight decline in trading, with shares falling by 0.8% to $19.67, while the company has a market capitalization of approximately $123.72 million.
• Insider Robert Vickers sold over 7,500 shares of Affinity Bancshares, reducing his ownership by 72.99%, which could signal a lack of confidence in the stock's near-term prospects.

Affinity Bancshares (NASDAQ:AFBI - Get Free Report)'s stock had its "hold (c)" rating reissued by equities researchers at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Affinity Bancshares Trading Down 0.8%

Shares of NASDAQ:AFBI traded down $0.16 during trading on Wednesday, reaching $19.67. 429 shares of the company traded hands, compared to its average volume of 3,743. The business's fifty day moving average is $19.38 and its 200-day moving average is $18.68. Affinity Bancshares has a 52-week low of $17.00 and a 52-week high of $22.50. The firm has a market capitalization of $123.72 million, a price-to-earnings ratio of 18.38 and a beta of 0.45. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44.

Affinity Bancshares (NASDAQ:AFBI - Get Free Report) last posted its earnings results on Friday, July 25th. The company reported $0.36 earnings per share (EPS) for the quarter. The company had revenue of $8.32 million for the quarter. Affinity Bancshares had a return on equity of 6.05% and a net margin of 13.78%.

Insider Transactions at Affinity Bancshares

In other Affinity Bancshares news, insider Robert Vickers sold 7,565 shares of Affinity Bancshares 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 completion of the transaction, the insider owned 2,800 shares in the company, valued at approximately $54,516. The trade was a 72.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 12.35% of the company's stock.

Hedge Funds Weigh In On Affinity Bancshares

A number of hedge funds have recently added to or reduced their stakes in AFBI. Jane Street Group LLC bought a new stake in Affinity Bancshares in the 1st quarter worth about $251,000. Salzhauer Michael bought a new stake in shares of Affinity Bancshares during the 2nd quarter valued at $276,000. Farther Finance Advisors LLC boosted its stake in shares of Affinity Bancshares by 14.6% in the first quarter. Farther Finance Advisors LLC now owns 16,302 shares of the company's stock worth $291,000 after acquiring an additional 2,075 shares during the period. Finally, Tabor Asset Management LP bought a new stake in shares of Affinity Bancshares during the first quarter valued at approximately $2,508,000. 39.31% of the stock is currently owned by hedge funds and other institutional investors.

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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