Patriot National Bancorp (NASDAQ:PNBK) Stock Breaks Below 200-Day Moving Average – Here’s What Happened

Patriot National Bancorp Inc. (NASDAQ:PNBK)’s stock price passed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $1.11 and traded as low as $0.8801. Patriot National Bancorp shares last traded at $0.8989, with a volume of 40,575 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded Patriot National Bancorp from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, September 1st. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, Patriot National Bancorp currently has an average rating of “Sell”.

Patriot National Bancorp Stock Performance

The stock has a 50-day moving average of $1.01 and a 200 day moving average of $1.11. The stock has a market cap of $101.68 million, a PE ratio of -12.23 and a beta of -0.62. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 0.19.

Institutional Trading of Patriot National Bancorp

An institutional investor recently raised its stake in Patriot National Bancorp stock. Bank of America Corp DE boosted its holdings in Patriot National Bancorp Inc. (NASDAQ:PNBK) by 42.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 61,864 shares of the bank’s stock after acquiring an additional 18,538 shares during the quarter. Bank of America Corp DE owned about 0.05% of Patriot National Bancorp worth $80,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 39.25% of the company’s stock.

Patriot National Bancorp Company Profile

Patriot National Bancorp, Inc is a bank holding company that operates through its principal subsidiary, Patriot Bank, N.A. The company provides community banking services to individuals, families, businesses and organizations, with a focus on relationship-based banking.

Patriot Bank offers deposit products such as checking, savings, money market and certificate of deposit accounts. Its lending activities include commercial real estate loans, commercial and industrial financing, residential mortgages, home equity loans, consumer loans and Small Business Administration lending.