Patriot National Bancorp (NASDAQ:PNBK) Posts Earnings Results, Misses Expectations By $0.27 EPS

Patriot National Bancorp (NASDAQ:PNBK) released its earnings results on Tuesday. The bank reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.27), Zacks reports. The firm had revenue of $9.51 million during the quarter, compared to analyst estimates of $8.30 million. Patriot National Bancorp had a negative net margin of 35.17% and a negative return on equity of 37.63%.

Patriot National Bancorp Stock Performance

Shares of NASDAQ PNBK opened at $1.26 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.17. Patriot National Bancorp has a 12 month low of $0.90 and a 12 month high of $7.47. The company has a 50 day simple moving average of $1.39 and a two-hundred day simple moving average of $1.41. The stock has a market cap of $144.89 million, a price-to-earnings ratio of -3.94 and a beta of -0.68.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Deutsche Bank AG lifted its position in Patriot National Bancorp by 35.5% during the fourth quarter. Deutsche Bank AG now owns 59,272 shares of the bank’s stock valued at $108,000 after purchasing an additional 15,516 shares during the period. Goldman Sachs Group Inc. grew its position in Patriot National Bancorp by 21.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 94,249 shares of the bank’s stock worth $172,000 after purchasing an additional 16,893 shares during the period. The Manufacturers Life Insurance Company purchased a new position in shares of Patriot National Bancorp during the 4th quarter valued at about $36,000. JPMorgan Chase & Co. purchased a new position in shares of Patriot National Bancorp during the 2nd quarter valued at about $32,000. Finally, Invesco Ltd. acquired a new position in shares of Patriot National Bancorp in the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 39.25% of the company’s stock.

Patriot National Bancorp Company Profile

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.