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

Patriot National Bancorp Inc. (NASDAQ:PNBK)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.04 and traded as low as $1.20. Patriot National Bancorp shares last traded at $1.23, with a volume of 506,690 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Patriot National Bancorp in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Patriot National Bancorp Stock Down 9.6%

The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.93 and a current ratio of 0.95. The firm has a fifty day simple moving average of $1.40 and a 200-day simple moving average of $2.04. The company has a market capitalization of $117.82 million, a PE ratio of -0.13 and a beta of -0.42.

Patriot National Bancorp (NASDAQ:PNBK) last posted its quarterly earnings data on Thursday, August 14th. The bank reported ($0.06) earnings per share (EPS) for the quarter. Patriot National Bancorp had a negative return on equity of 132.38% and a negative net margin of 76.35%.The business had revenue of $6.22 million for the quarter.

Institutional Investors Weigh In On Patriot National Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of PNBK. Blue Sky Capital Consultants Group Inc. increased its holdings in shares of 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 during the last quarter. Falcon Wealth Planning bought a new stake in shares of Patriot National Bancorp in the 3rd quarter valued at approximately $136,000. Curated Wealth Partners LLC increased 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 valued at $1,211,000 after acquiring an additional 264,630 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of 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 acquiring an additional 13,034,536 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Patriot National Bancorp in the 2nd quarter valued at approximately $36,000. 39.25% of the stock is currently owned by hedge funds and other institutional investors.

Patriot National Bancorp Company Profile

Patriot National Bancorp, Inc operates as the holding company for Patriot Bank, N.A. that provides community banking services to individuals, small and medium-sized businesses, and professionals. The company accepts consumer and commercial deposit accounts, such as checking, interest-bearing negotiable order of withdrawal, money market, time certificates of deposit, savings, prepaid deposit, on-line national money market, individual retirement accounts, and health savings accounts, as well as certificate of deposit account registry service.