Patriot National Bancorp Inc. (NASDAQ:PNBK) Sees Large Increase in Short Interest

Patriot National Bancorp Inc. (NASDAQ:PNBK) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totaling 2,309,313 shares, a growth of 37.1% from the December 15th total of 1,683,903 shares. Approximately 2.3% of the company’s shares are sold short. Based on an average trading volume of 479,350 shares, the days-to-cover ratio is currently 4.8 days. Based on an average trading volume of 479,350 shares, the days-to-cover ratio is currently 4.8 days. Approximately 2.3% of the company’s shares are sold short.

Wall Street Analyst Weigh In

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

Patriot National Bancorp Trading Down 1.9%

Shares of NASDAQ:PNBK traded down $0.03 on Monday, hitting $1.59. 231,604 shares of the company’s stock were exchanged, compared to its average volume of 301,187. Patriot National Bancorp has a 12 month low of $0.90 and a 12 month high of $7.47. The stock has a market capitalization of $182.83 million, a price-to-earnings ratio of -0.59 and a beta of -0.71. The business’s 50 day simple moving average is $1.51 and its two-hundred day simple moving average is $1.46. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.96 and a quick ratio of 0.94.

Patriot National Bancorp (NASDAQ:PNBK) last posted its quarterly earnings results on Friday, November 14th. The bank reported ($0.03) EPS for the quarter. The company had revenue of $7.22 million during the quarter. Patriot National Bancorp had a negative return on equity of 37.63% and a negative net margin of 35.17%.

Institutional Trading of Patriot National Bancorp

Several institutional investors and hedge funds have recently modified their holdings of PNBK. Westmount Partners LLC purchased a new stake in shares of Patriot National Bancorp in the fourth quarter valued at approximately $36,000. SG Americas Securities LLC bought a new stake in Patriot National Bancorp during the 4th quarter valued at $30,000. Citadel Advisors LLC bought a new stake in Patriot National Bancorp during the 3rd quarter valued at $116,000. Vanguard Group Inc. lifted its holdings in shares of Patriot National Bancorp by 21.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,286,061 shares of the bank’s stock worth $1,672,000 after buying an additional 224,943 shares during the period. Finally, Elyxium Wealth LLC lifted its holdings in shares of Patriot National Bancorp by 458.0% in the 3rd quarter. Elyxium Wealth LLC now owns 115,840 shares of the bank’s stock worth $151,000 after buying an additional 95,080 shares during the period. Institutional investors own 39.25% of the company’s stock.

About Patriot National Bancorp

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.