Patriot National Bancorp (NASDAQ:PNBK) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Patriot National Bancorp Inc. (NASDAQ:PNBK)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-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 changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Patriot National Bancorp in a research report 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 presently has an average rating of “Sell”.

Patriot National Bancorp Trading Down 0.7%

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 business’s fifty day simple moving average is $1.43 and its two-hundred day simple moving average is $1.42. The stock 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 posted its quarterly earnings results on Tuesday, March 10th. The bank reported $0.01 earnings per share (EPS) for the quarter. Patriot National Bancorp had a negative net margin of 35.17% and a negative return on equity of 37.63%. The company had revenue of $9.82 million for the quarter.

Hedge Funds Weigh In On Patriot National Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. 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 valued at $27,000 after acquiring an additional 8,500 shares in the last quarter. Deutsche Bank AG boosted its position in shares of Patriot National Bancorp by 35.5% during the 4th quarter. Deutsche Bank AG now owns 59,272 shares of the bank’s stock valued at $108,000 after acquiring an additional 15,516 shares in the last quarter. SG Americas Securities LLC bought a new stake in Patriot National Bancorp in the fourth quarter valued at about $30,000. Goldman Sachs Group Inc. increased its stake in Patriot National Bancorp by 21.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 94,249 shares of the bank’s stock valued at $172,000 after acquiring an additional 16,893 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new position in Patriot National Bancorp in the fourth quarter worth about $36,000. 39.25% of the stock is currently owned by institutional investors.

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.