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

Patriot National Bancorp (NASDAQ:PNBK) issued its quarterly earnings data on Friday. The bank reported ($0.03) earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $7.22 million during the quarter. Patriot National Bancorp had a negative net margin of 76.35% and a negative return on equity of 132.38%.

Patriot National Bancorp Stock Up 1.8%

Shares of PNBK traded up $0.02 during mid-day trading on Friday, hitting $1.11. 231,005 shares of the company’s stock were exchanged, compared to its average volume of 735,939. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.95 and a quick ratio of 0.93. Patriot National Bancorp has a 52 week low of $0.90 and a 52 week high of $7.47. The company has a market cap of $106.33 million, a PE ratio of -0.12 and a beta of -0.44. The company has a 50-day simple moving average of $1.29 and a 200 day simple moving average of $1.89.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Patriot National Bancorp in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake 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 buying an additional 224,943 shares during the last quarter. Elyxium Wealth LLC grew its holdings in shares of 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 acquiring an additional 95,080 shares in the last quarter. Blue Sky Capital Consultants Group Inc. increased its position in shares of Patriot National Bancorp by 70.8% in the third 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 Patriot National Bancorp during the third quarter worth about $136,000. Finally, Curated Wealth Partners LLC boosted its position in Patriot National Bancorp by 39.7% during the third quarter. Curated Wealth Partners LLC now owns 931,297 shares of the bank’s stock valued at $1,211,000 after purchasing an additional 264,630 shares during the last quarter. Institutional investors own 39.25% of the company’s stock.

About Patriot National Bancorp

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.