Axxcess Wealth Management LLC Invests $324,000 in Patriot National Bancorp Inc. $PNBK

Axxcess Wealth Management LLC bought a new position in Patriot National Bancorp Inc. (NASDAQ:PNBK) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 213,334 shares of the bank’s stock, valued at approximately $324,000.

Separately, Angel Oak Capital Advisors LLC bought a new stake in shares of Patriot National Bancorp in the 1st quarter worth $3,867,000. Institutional investors own 39.25% of the company’s stock.

Patriot National Bancorp Price Performance

Shares of NASDAQ:PNBK opened at $1.26 on Friday. The company’s 50-day moving average is $1.44 and its 200 day moving average is $2.04. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.93 and a current ratio of 0.95. The company has a market capitalization of $120.70 million, a P/E ratio of -0.13 and a beta of -0.42. Patriot National Bancorp Inc. has a fifty-two week low of $0.90 and a fifty-two week high of $7.47.

Patriot National Bancorp (NASDAQ:PNBK) last issued its quarterly earnings results on Thursday, August 14th. The bank reported ($0.06) earnings per share for the quarter. The company had revenue of $6.22 million during the quarter. Patriot National Bancorp had a negative return on equity of 132.38% and a negative net margin of 76.35%.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Patriot National Bancorp in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Patriot National Bancorp currently has a consensus rating of “Sell”.

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.