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

Patriot National Bancorp Inc. (NASDAQ:PNBK)’s share price crossed 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 trading hands.

Analyst Ratings Changes

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

Patriot National Bancorp Trading Up 3.2%

The stock has a market cap of $149.49 million, a P/E ratio of -0.48 and a beta of -0.71. 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 stock’s fifty day moving average is $1.59 and its 200 day moving average is $1.45.

Hedge Funds Weigh In On Patriot National Bancorp

Several large investors have recently modified their holdings of PNBK. Curated Wealth Partners LLC lifted its holdings in shares of Patriot National Bancorp by 39.7% in the 3rd quarter. Curated Wealth Partners LLC now owns 931,297 shares of the bank’s stock worth $1,211,000 after acquiring an additional 264,630 shares during the last quarter. Rinkey Investments bought a new position in Patriot National Bancorp during the 2nd quarter valued at about $231,000. Suncoast Equity Management purchased a new stake in Patriot National Bancorp in the 2nd quarter worth about $28,000. Elyxium Wealth LLC bought a new stake in Patriot National Bancorp in the second quarter worth about $32,000. Finally, SG Americas Securities LLC bought a new stake in Patriot National Bancorp in the fourth quarter worth about $30,000. Institutional investors own 39.25% of the company’s stock.

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.