Patriot National Bancorp (NASDAQ:PNBK) Announces Quarterly Earnings Results

Patriot National Bancorp (NASDAQ:PNBK) announced its quarterly earnings results on Tuesday. The bank reported $0.01 earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of $9.82 million during the quarter. Patriot National Bancorp had a negative return on equity of 37.63% and a negative net margin of 35.17%.

Patriot National Bancorp Stock Performance

Shares of PNBK opened at $1.34 on Wednesday. The firm’s fifty day moving average is $1.49 and its two-hundred day moving average is $1.43. The stock has a market cap of $154.09 million, a PE ratio of -0.50 and a beta of -0.68. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.17. Patriot National Bancorp has a 52-week low of $0.90 and a 52-week high of $7.47.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Patriot National Bancorp in a research report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Patriot National Bancorp has an average rating of “Sell”.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Bank of America Corp DE grew its holdings in Patriot National Bancorp by 56,671,895.7% in the 2nd quarter. Bank of America Corp DE now owns 13,034,559 shares of the bank’s stock valued at $19,813,000 after buying an additional 13,034,536 shares in the last quarter. Angel Oak Capital Advisors LLC boosted its holdings in Patriot National Bancorp by 2,098.6% in the 4th quarter. Angel Oak Capital Advisors LLC now owns 3,292,840 shares of the bank’s stock valued at $5,993,000 after purchasing an additional 3,143,069 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Patriot National Bancorp by 34.1% in the 4th quarter. Geode Capital Management LLC now owns 1,621,452 shares of the bank’s stock valued at $2,951,000 after buying an additional 412,624 shares during the period. Vanguard Group Inc. lifted its holdings in Patriot National Bancorp by 21.2% in the third quarter. Vanguard Group Inc. now owns 1,286,061 shares of the bank’s stock valued at $1,672,000 after acquiring an additional 224,943 shares during the last quarter. Finally, Curated Wealth Partners LLC raised its position in Patriot National Bancorp by 39.7% in the third quarter. Curated Wealth Partners LLC now owns 931,297 shares of the bank’s stock valued at $1,211,000 after purchasing an additional 264,630 shares during the period. 39.25% of the stock is owned by hedge funds and other institutional investors.

About Patriot National Bancorp

Patriot National Bancorp, Inc, through its subsidiary Patriot National Bank, operates as a community-oriented bank headquartered in Fort Lauderdale, Florida. The company offers a comprehensive suite of retail and commercial banking products and services to individuals, small- to mid-sized businesses and institutions. Its core deposit offerings include checking and savings accounts, money market accounts and certificates of deposit, all supported by online and mobile banking platforms.

On the lending side, Patriot National Bank provides commercial real estate and business loans, construction and development financing, residential mortgage lending and consumer installment loans.