Patriot National Bancorp (NASDAQ:PNBK) Stock Crosses Below 200 Day Moving Average - What's Next?

Key Points

• Patriot National Bancorp's stock crossed below its 200-day moving average, trading as low as $1.35 and last at $1.38 versus the 200-day MA of $1.41 on volume of 505,243 shares.
• Analyst sentiment is bearish—Weiss Ratings reiterated a "sell (d-)" and the consensus rating is "Sell"—and the company missed quarterly EPS estimates (reported ($0.02) vs. $0.25 expected) while showing negative ROE and net margin.
• Institutional investors own about 39.25% of the stock, with firms like Deutsche Bank and Goldman Sachs recently increasing their stakes, signaling some hedge fund buying despite the weak fundamentals.

Patriot National Bancorp Inc. (NASDAQ:PNBK - Get Free Report)'s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.41 and traded as low as $1.35. Patriot National Bancorp shares last traded at $1.38, with a volume of 505,243 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Patriot National Bancorp in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Patriot National Bancorp currently has a consensus rating of "Sell".

Patriot National Bancorp Price Performance

The company has a 50-day moving average of $1.34 and a two-hundred day moving average of $1.41. The stock has a market capitalization of $161.58 million, a PE ratio of -4.31 and a beta of -0.67. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.84 and a quick ratio of 0.82.

Patriot National Bancorp (NASDAQ:PNBK - Get Free Report) last released its earnings results on Tuesday, March 31st. The bank reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.27). Patriot National Bancorp had a negative return on equity of 16.78% and a negative net margin of 21.77%.The business had revenue of $9.51 million for the quarter, compared to analysts' expectations of $8.30 million.

Hedge Funds Weigh In On Patriot National Bancorp

Large investors have recently added to or reduced their stakes in the business. Blue Sky Capital Consultants Group Inc. raised 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 worth $27,000 after purchasing an additional 8,500 shares during the period. Deutsche Bank AG raised its holdings in shares of Patriot National Bancorp by 35.5% in the 4th quarter. Deutsche Bank AG now owns 59,272 shares of the bank's stock worth $108,000 after purchasing an additional 15,516 shares during the period. SG Americas Securities LLC purchased a new position in shares of Patriot National Bancorp in the 4th quarter worth about $30,000. Goldman Sachs Group Inc. raised its holdings in shares of Patriot National Bancorp by 21.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 94,249 shares of the bank's stock worth $172,000 after purchasing an additional 16,893 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Patriot National Bancorp in the 4th quarter worth about $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, 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.

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