Patriot National Bancorp (PNBK) Expected to Announce Quarterly Earnings on Tuesday

Patriot National Bancorp (NASDAQ:PNBK) will likely be announcing its results after the market closes on Tuesday, March 31st. Analysts expect the company to announce earnings of $0.25 per share and revenue of $8.30 million for the quarter.

Patriot National Bancorp (NASDAQ:PNBK) last issued its quarterly earnings data on Tuesday, March 10th. The bank reported $0.01 earnings per share (EPS) for the quarter. The firm 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 Down 5.8%

Shares of PNBK opened at $1.29 on Friday. The company’s 50-day moving average price is $1.42 and its 200 day moving average price is $1.42. Patriot National Bancorp has a 12-month low of $0.90 and a 12-month high of $7.47. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.17. The firm has a market cap of $148.34 million, a P/E ratio of -0.48 and a beta of -0.68.

Institutional Investors Weigh In On Patriot National Bancorp

Several institutional investors and hedge funds have recently modified their holdings of PNBK. Geode Capital Management LLC lifted its stake in Patriot National Bancorp by 3,772.1% during the 2nd quarter. Geode Capital Management LLC now owns 1,046,216 shares of the bank’s stock worth $1,590,000 after acquiring an additional 1,019,197 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in Patriot National Bancorp in the 2nd quarter valued at about $32,000. New York State Common Retirement Fund purchased a new stake in Patriot National Bancorp during the second quarter worth about $109,000. Invesco Ltd. purchased a new stake in Patriot National Bancorp during the second quarter worth about $35,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Patriot National Bancorp during the second quarter worth about $36,000. Hedge funds and other institutional investors own 39.25% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued 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, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

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.