Patriot National Bancorp (NASDAQ:PNBK) Releases Quarterly Earnings Results

Patriot National Bancorp (NASDAQ:PNBK) posted its earnings results on Friday. The bank reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.25 by ($0.27), FiscalAI reports. Patriot National Bancorp had a negative return on equity of 16.78% and a negative net margin of 21.77%.The firm had revenue of $10.32 million for the quarter, compared to the consensus estimate of $8.30 million.

Patriot National Bancorp Price Performance

Shares of PNBK traded down $0.05 during mid-day trading on Friday, reaching $1.07. 204,380 shares of the stock traded hands, compared to its average volume of 290,766. The firm has a fifty day moving average price of $1.29 and a 200 day moving average price of $1.39. The company has a market cap of $125.29 million, a price-to-earnings ratio of -3.34 and a beta of -0.64. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. Patriot National Bancorp has a 1 year low of $0.90 and a 1 year high of $6.20.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. purchased a new position in Patriot National Bancorp in the second quarter worth $32,000. Invesco Ltd. bought a new position in shares of Patriot National Bancorp during the second quarter valued at about $35,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Patriot National Bancorp during the second quarter valued at about $36,000. The Manufacturers Life Insurance Company bought a new position in shares of Patriot National Bancorp during the fourth quarter valued at about $36,000. Finally, Deutsche Bank AG raised its stake in shares of Patriot National Bancorp by 35.5% during the fourth 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 during the last quarter. 39.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Patriot National Bancorp from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

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.