Patriot National Bancorp (NASDAQ:PNBK) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Patriot National Bancorp (NASDAQ:PNBK) from a sell rating to a hold rating in a report published on Thursday morning.

Patriot National Bancorp Stock Performance

Shares of PNBK opened at $5.93 on Thursday. Patriot National Bancorp has a 12 month low of $0.99 and a 12 month high of $7.47. The firm has a fifty day simple moving average of $2.97 and a 200 day simple moving average of $2.16. The stock has a market capitalization of $452.22 million, a price-to-earnings ratio of -0.80 and a beta of -0.22. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 6.83.

Patriot National Bancorp (NASDAQ:PNBK) last announced its earnings results on Wednesday, May 14th. The bank reported ($0.21) EPS for the quarter. Patriot National Bancorp had a negative return on equity of 81.22% and a negative net margin of 45.58%. The business had revenue of $6.68 million for the quarter.

Insider Buying and Selling

In other news, President Steven Sugarman purchased 7,019,978 shares of the business’s stock in a transaction 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 completion of the purchase, the president now directly owns 7,019,978 shares in the company, valued at $5,264,983.50. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 13.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Patriot National Bancorp

A hedge fund recently bought a new stake in Patriot National Bancorp stock. Virtu Financial LLC purchased a new stake in Patriot National Bancorp, Inc. (NASDAQ:PNBK) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 23,763 shares of the bank’s stock, valued at approximately $28,000. 39.25% of the stock is owned by institutional investors.

About Patriot National Bancorp

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.