3,333,386 Shares in Patriot National Bancorp Inc. (NASDAQ:PNBK) Acquired by Angel Oak Capital Advisors LLC

Key Points

• Angel Oak Capital Advisors LLC has acquired 3,333,386 shares of Patriot National Bancorp Inc. (NASDAQ: PNBK), representing approximately $3.87 million and making it the firm's third largest holding.
• Patriot National Bancorp reported a negative earnings per share (EPS) of ($0.21) for the last quarter, with a significant negative net margin of 70.89%.
• Shares of Patriot National Bancorp are currently rated as a hold by Wall Street Zen, up from a previous sell rating.

Angel Oak Capital Advisors LLC acquired a new stake in Patriot National Bancorp Inc. (NASDAQ:PNBK - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,333,386 shares of the bank's stock, valued at approximately $3,867,000. Patriot National Bancorp comprises approximately 5.2% of Angel Oak Capital Advisors LLC's holdings, making the stock its 3rd biggest position. Angel Oak Capital Advisors LLC owned approximately 4.52% of Patriot National Bancorp at the end of the most recent quarter.

Patriot National Bancorp Stock Performance

Shares of Patriot National Bancorp stock traded down $0.01 on Wednesday, reaching $1.65. 252,084 shares of the company were exchanged, compared to its average volume of 934,904. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.92 and a current ratio of 0.94. The company's 50-day moving average is $1.40 and its two-hundred day moving average is $2.01. The firm has a market cap of $125.83 million, a price-to-earnings ratio of -0.16 and a beta of -0.47. Patriot National Bancorp Inc. has a 1-year low of $0.90 and a 1-year high of $7.47.

Patriot National Bancorp (NASDAQ:PNBK - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The bank reported ($0.21) earnings per share for the quarter. The company had revenue of $6.68 million for the quarter. Patriot National Bancorp had a negative return on equity of 149.65% and a negative net margin of 70.89%.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Patriot National Bancorp from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd.

Patriot National Bancorp 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.