Wall Street Zen upgraded shares of Patriot National Bancorp (NASDAQ:PNBK - Free Report) from a sell rating to a hold rating in a report published on Thursday morning.
Patriot National Bancorp Trading Down 8.9%
Shares of NASDAQ PNBK traded down $0.53 during midday trading on Thursday, reaching $5.40. 391,455 shares of the stock were exchanged, compared to its average volume of 391,222. The company has a 50 day simple moving average of $3.06 and a 200 day simple moving average of $2.18. The stock has a market capitalization of $411.80 million, a P/E ratio of -0.73 and a beta of -0.22. The company has a debt-to-equity ratio of 6.83, a quick ratio of 0.97 and a current ratio of 0.99. Patriot National Bancorp has a twelve month low of $0.99 and a twelve month 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 (EPS) for the quarter. The firm had revenue of $6.68 million for the quarter. Patriot National Bancorp had a negative return on equity of 81.22% and a negative net margin of 45.58%.
Insider Activity at Patriot National Bancorp
In related news, President Steven Sugarman bought 7,019,978 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The stock was purchased at an average price of $0.75 per share, for a total transaction of $5,264,983.50. Following the acquisition, the president now owns 7,019,978 shares of the company's stock, valued at approximately $5,264,983.50. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 13.60% of the stock is owned by insiders.
Institutional Trading of Patriot National Bancorp
An institutional investor recently bought a new position in Patriot National Bancorp stock. Virtu Financial LLC acquired a new stake in Patriot National Bancorp, Inc. (NASDAQ:PNBK - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 23,763 shares of the bank's stock, valued at approximately $28,000. Institutional investors and hedge funds own 39.25% of the company's stock.
About Patriot National Bancorp
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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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