Patriot National Bancorp (NASDAQ:PNBK) Shares Cross Below 200 Day Moving Average – Time to Sell?

Patriot National Bancorp Inc. (NASDAQ:PNBK) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.20 and traded as low as $1.02. Patriot National Bancorp shares last traded at $1.06, with a volume of 84,552 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Patriot National Bancorp from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, August 17th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Patriot National Bancorp presently has a consensus rating of “Sell”.

Patriot National Bancorp Trading Down 0.5%

The firm has a market cap of $124.08 million, a P/E ratio of -14.93 and a beta of -0.66. The firm has a fifty day simple moving average of $1.12 and a 200-day simple moving average of $1.20. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.85 and a quick ratio of 0.83.

Hedge Funds Weigh In On Patriot National Bancorp

Several large investors have recently bought and sold shares of the stock. Bank of America Corp DE boosted its stake in shares of Patriot National Bancorp by 42.8% in the 1st quarter. Bank of America Corp DE now owns 61,864 shares of the bank’s stock worth $80,000 after buying an additional 18,538 shares during the last quarter. Westmount Partners LLC lifted its position in shares of Patriot National Bancorp by 400.0% during the first quarter. Westmount Partners LLC now owns 100,000 shares of the bank’s stock worth $129,000 after acquiring an additional 80,000 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Patriot National Bancorp by 18,696.6% in the fourth quarter. Russell Investments Group Ltd. now owns 684,009 shares of the bank’s stock worth $1,245,000 after acquiring an additional 680,370 shares during the period. Barclays PLC boosted its holdings in shares of Patriot National Bancorp by 48.4% in the fourth quarter. Barclays PLC now owns 107,513 shares of the bank’s stock worth $196,000 after acquiring an additional 35,052 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Patriot National Bancorp in the fourth quarter valued at $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.