Patriot National Bancorp Inc. $PNBK Shares Acquired by Angel Oak Capital Advisors LLC

Angel Oak Capital Advisors LLC boosted its holdings in Patriot National Bancorp Inc. (NASDAQ:PNBK) by 2,098.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,292,840 shares of the bank’s stock after acquiring an additional 3,143,069 shares during the quarter. Patriot National Bancorp accounts for about 8.7% of Angel Oak Capital Advisors LLC’s holdings, making the stock its 4th biggest position. Angel Oak Capital Advisors LLC’s holdings in Patriot National Bancorp were worth $5,993,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the business. Bank of America Corp DE grew its position in Patriot National Bancorp by 56,671,895.7% in the 2nd quarter. Bank of America Corp DE now owns 13,034,559 shares of the bank’s stock valued at $19,813,000 after purchasing an additional 13,034,536 shares during the period. Geode Capital Management LLC grew its position in Patriot National Bancorp by 34.1% in the 4th quarter. Geode Capital Management LLC now owns 1,621,452 shares of the bank’s stock valued at $2,951,000 after purchasing an additional 412,624 shares during the period. Vanguard Group Inc. grew its position in Patriot National Bancorp by 21.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,286,061 shares of the bank’s stock valued at $1,672,000 after purchasing an additional 224,943 shares during the period. Elyxium Wealth LLC grew its position in Patriot National Bancorp by 458.0% in the 3rd quarter. Elyxium Wealth LLC now owns 115,840 shares of the bank’s stock valued at $151,000 after purchasing an additional 95,080 shares during the period. Finally, Citadel Advisors LLC acquired a new stake in Patriot National Bancorp in the 3rd quarter valued at $116,000. Institutional investors and hedge funds own 39.25% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Patriot National Bancorp from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Patriot National Bancorp currently has a consensus rating of “Sell”.

Patriot National Bancorp Price Performance

PNBK opened at $1.15 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.84 and a quick ratio of 0.82. The company has a market capitalization of $135.32 million, a price-to-earnings ratio of -8.85 and a beta of -0.66. The firm’s fifty day moving average price is $1.23 and its two-hundred day moving average price is $1.39. Patriot National Bancorp Inc. has a 1 year low of $0.86 and a 1 year high of $2.00.

Patriot National Bancorp (NASDAQ:PNBK) last released its earnings results on Friday, May 15th. The bank reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.27). The business had revenue of $10.32 million for the quarter, compared to the consensus estimate of $8.30 million. Patriot National Bancorp had a negative return on equity of 13.71% and a negative net margin of 19.14%.

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.