The growth track for Patriot National Bancorp Inc. (PNBK) has changed recently

Patriot National Bancorp Inc. (NASDAQ: PNBK) stock jumped 4.10% on Wednesday to $10.15 against a previous-day closing price of $9.75. With 0.14 million shares changed hands, the volume of the stock remained heavier than its average volume of 6150.0 shares. During the session, the Banks – Regional company that operates in wider Financial sector, reached to the highest price of $10.15 whereas the lowest price it dropped to was $9.75. The 52-week range on PNBK shows that it touched its highest point at $18.00 and its lowest point at $9.75 during that stretch. Beta for the stock currently stands at 0.58.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PNBK was up-trending over the past week, with a rise of 4.10%, but this was down by -4.65% over a month. Three-month performance dropped to -16.46% while six-month performance fell -36.56%. The stock gained 4.10% in the past year, while it has lost -34.73% so far this year.

Float and Shares Shorts:

At present, 3.96 million PNBK shares are outstanding with a float of 1.94 million shares on hand for trading. On Oct 13, 2022, short shares totaled 11530.0, which was 0.29% higher than short shares on Sep 14, 2022. In addition to Mr. Robert Glenn Russell Jr. as the firm’s Pres, CEO & Director, Mr. Joseph D. Perillo serves as its Exec. VP & CFO.

Institutional Ownership:

Through their ownership of 34.68% of PNBK’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 71.19% of PNBK, in contrast to 7.31% held by mutual funds. Shares owned by individuals account for 19.75%. As the largest shareholder in PNBK with 10.00% of the stake, AllianceBernstein LP holds 395,701 shares worth 395,701. A second-largest stockholder of PNBK, AQR Arbitrage LLC, holds 189,455 shares, controlling over 4.79% of the firm’s shares. Boothbay Fund Management LLC is the third largest shareholder in PNBK, holding 162,922 shares or 4.12% stake. With a 3.05% stake in PNBK, the AQR Diversified Arbitrage Fund is the largest stakeholder. A total of 120,629 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.57% of PNBK stock, is the second-largest Mutual Fund holder. It holds 101,605 shares valued at 1.03 million. Bridgeway Omni Small Cap Value Fu holds 0.47% of the stake in PNBK, owning 18,500 shares worth 0.19 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PNBK since 1 analysts follow the stock currently. There are 0 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With PNBK analysts setting a high price target of $24.00 and a low target of $24.00, the average target price over the next 12 months is $24.00. Based on these targets, PNBK could surge 136.45% to reach the target high and rise by 136.45% to reach the target low. Reaching the average price target will result in a growth of 136.45% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. PNBK will report FY 2019 earnings on 03/21/2023. Analysts have provided yearly estimates in a range of $0.64 being high and $0.64 being low. For PNBK, this leads to a yearly average estimate of $0.64. Based on analyst estimates, the high estimate for the next quarter is $0.13 and the low estimate is $0.13. The average estimate for the next quarter is thus $0.13.

Summary of Insider Activity:

Insiders traded PNBK stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 3 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 2,496 while 0 shares were sold.

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