Patriot National Bancorp (NASDAQ:PNBK) Share Price Crosses Below 200-Day Moving Average – What’s Next?

Patriot National Bancorp Inc. (NASDAQ:PNBK) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.45 and traded as low as $1.2650. Patriot National Bancorp shares last traded at $1.30, with a volume of 173,372 shares traded.

Wall Street Analyst Weigh In

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

Patriot National Bancorp Trading Up 3.2%

The stock has a fifty day simple moving average of $1.59 and a 200 day simple moving average of $1.45. The firm has a market capitalization of $149.49 million, a P/E ratio of -0.48 and a beta of -0.71. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.17.

Hedge Funds Weigh In On Patriot National Bancorp

Several hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. boosted its position in shares of Patriot National Bancorp by 18,696.6% during the fourth quarter. Russell Investments Group Ltd. now owns 684,009 shares of the bank’s stock worth $1,245,000 after acquiring an additional 680,370 shares during the last quarter. Barclays PLC boosted its holdings in shares of Patriot National Bancorp by 48.4% during the 4th quarter. Barclays PLC now owns 107,513 shares of the bank’s stock valued at $196,000 after purchasing an additional 35,052 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Patriot National Bancorp during the fourth quarter valued at about $36,000. Charles Schwab Investment Management Inc. grew its position in shares of Patriot National Bancorp by 33.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 168,909 shares of the bank’s stock valued at $307,000 after purchasing an additional 42,751 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Patriot National Bancorp by 12.3% in the fourth quarter. State Street Corp now owns 661,454 shares of the bank’s stock worth $1,204,000 after purchasing an additional 72,458 shares during the last quarter. 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.