Axxcess Wealth Management LLC Takes $324,000 Position in Patriot National Bancorp Inc. $PNBK

Key Points

• Axxcess Wealth Management LLC has acquired a new position in Patriot National Bancorp Inc., purchasing 213,334 shares valued at approximately $324,000 in the second quarter.
• As of now, institutional investors own 39.25% of Patriot National Bancorp's stock, reflecting significant interest from larger financial entities.
• Patriot National Bancorp recently reported a negative earnings per share of ($0.06) for the last quarter and has received a "sell" rating from analysts, indicating caution among investors.

Axxcess Wealth Management LLC acquired a new stake in Patriot National Bancorp Inc. (NASDAQ:PNBK - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 213,334 shares of the bank's stock, valued at approximately $324,000. Axxcess Wealth Management LLC owned approximately 0.28% of Patriot National Bancorp as of its most recent SEC filing.

Separately, Angel Oak Capital Advisors LLC bought a new stake in shares of Patriot National Bancorp in the 1st quarter valued at $3,867,000. Institutional investors own 39.25% of the company's stock.

Patriot National Bancorp Stock Performance

PNBK opened at $1.26 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.93 and a debt-to-equity ratio of 0.27. The company's fifty day moving average price is $1.44 and its two-hundred day moving average price is $2.04. Patriot National Bancorp Inc. has a 1-year low of $0.90 and a 1-year high of $7.47. The company has a market cap of $120.70 million, a price-to-earnings ratio of -0.13 and a beta of -0.42.

Patriot National Bancorp (NASDAQ:PNBK - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The bank reported ($0.06) earnings per share 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.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a "sell (e+)" rating on shares of Patriot National Bancorp in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of "Sell".

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.

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