Patriot National Bancorp (NASDAQ:PNBK) Stock Crosses Above 200 Day Moving Average – Here’s Why

Patriot National Bancorp Inc. (NASDAQ:PNBK) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.42 and traded as high as $1.46. Patriot National Bancorp shares last traded at $1.44, with a volume of 1,618,864 shares.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Patriot National Bancorp in a research note on Monday, December 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

Patriot National Bancorp Price Performance

The stock has a 50 day moving average of $1.43 and a two-hundred day moving average of $1.42. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.94 and a current ratio of 0.96. The firm has a market capitalization of $165.59 million, a P/E ratio of -0.53 and a beta of -0.68.

Patriot National Bancorp (NASDAQ:PNBK) last announced its earnings results on Tuesday, March 10th. The bank reported $0.01 earnings per share (EPS) for the quarter. Patriot National Bancorp had a negative return on equity of 37.63% and a negative net margin of 35.17%.The firm had revenue of $9.82 million during the quarter.

Institutional Trading of Patriot National Bancorp

Several large investors have recently modified their holdings of PNBK. Blue Sky Capital Consultants Group Inc. raised its holdings in Patriot National Bancorp by 70.8% in the 3rd quarter. Blue Sky Capital Consultants Group Inc. now owns 20,500 shares of the bank’s stock worth $27,000 after acquiring an additional 8,500 shares during the period. SG Americas Securities LLC bought a new stake in Patriot National Bancorp during the fourth quarter valued at about $30,000. JPMorgan Chase & Co. acquired a new stake in shares of Patriot National Bancorp in the second quarter valued at about $32,000. Intech Investment Management LLC acquired a new stake in shares of Patriot National Bancorp in the second quarter valued at about $34,000. Finally, Invesco Ltd. bought a new position in shares of Patriot National Bancorp in the second quarter worth about $35,000. 39.25% of the stock is owned by 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.