Patriot National Bancorp (PNBK) AI Stock Analysis

• Market Cap: $297.11M
• Dividend Yield: N/A
• Average Volume (3M): 878.50K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.05
• Revenue Growth: -6.52%
• EPS Growth: -866.16%
• Country: US
• Employees: 129
• Sector: Financial
• Sector Strength: 76
• Industry: Banks - Regional
• EPS (TTM): -10.02
• Shares Outstanding: 73,725,290
• 10 Day Avg. Volume: 215,938
• 30 Day Avg. Volume: 878,503
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): 0.20
• Price to Cash Flow (P/CF): -0.50
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

Patriot National Bancorp is challenged by significant financial difficulties, including persistent net losses and cash flow issues. While technical analysis shows strong momentum, valuation metrics are weak, reflecting ongoing profitability concerns. The recent capital raise is a positive development but financial viability remains a concern.

Patriot National Bancorp Business Overview & Revenue Model

Company Description

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, savings, prepaid deposit, on-line national money market, individual retirement accounts, and health savings accounts, as well as certificate of deposit account registry service. Its loan portfolio comprises commercial real estate, commercial business, small business administration, construction, purchased residential real estate, and various consumer loans. The company also offers automated clearing house transfers, lockbox, Internet banking, bill payment, remote deposit capture, debit card, money order, traveler's check, and automatic teller machine services. It operated through a network of eight branch offices located in Fairfield and New Haven Counties, Connecticut; and one branch offices located in Westchester County, New York. The company was founded in 1994 and is headquartered in Stamford, Connecticut.

How the Company Makes Money

Patriot National Bancorp primarily generates revenue through its banking operations, which involve earning interest on loans and charging fees for various financial services. The bank collects interest income from its loan portfolio, which includes residential and commercial real estate loans, commercial and industrial loans, and consumer loans. Additionally, the bank earns interest on investments in securities. Non-interest income is derived from service charges on deposit accounts, loan servicing fees, and other financial services. The bank's revenue is influenced by factors such as interest rate fluctuations, loan demand, and economic conditions in its operating regions. Strategic partnerships with other financial institutions and community organizations also play a role in expanding its reach and enhancing service offerings.

Patriot National Bancorp Financial Statement Overview

Summary

Patriot National Bancorp faces challenges with profitability and leverage, with a volatile income pattern and high debt levels. Despite improving cash flows, the company shows significant financial instability.

Income Statement

The company shows a volatile income pattern with recent negative net income and declining revenues in TTM (Trailing-Twelve-Months). The gross profit margin remains healthy, but the net profit margin is significantly negative due to high expenses. Revenue growth has fluctuated, indicating instability in earning performance.

Balance Sheet

The balance sheet reveals a concerning trend with a high debt-to-equity ratio, suggesting significant leverage. Stockholders' equity has decreased over time, reflecting financial pressure. However, the equity ratio remains low, pointing to potential risks if liabilities continue to increase.

Cash Flow

Cash flow analysis shows some positive trends with improving operating and free cash flows in the TTM. However, the cash flow to net income ratios are volatile, and past periods have shown negative free cash flow, indicating challenges in maintaining positive liquidity.

Breakdown
TTM	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Income Statement		Total Revenue
45.40M	27.08M	36.63M	29.55M	25.96M	27.75M
	Gross Profit
42.19M	27.08M	36.63M	29.55M	25.96M	27.75M
	EBIT
6.41M	-4.28M	17.03M	5.01M	-4.16M	-3.72M
	EBITDA
-4.95M	-4.28M	9.23M	6.65M	-2.56M	-2.02M
	Net Income Common Stockholders
-29.43M	-4.18M	6.16M	5.09M	-3.82M	-2.82M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
54.19M	52.52M	89.70M	141.39M	83.90M	87.72M
	Total Assets
814.75M	1.09B	1.04B	948.48M	880.73M	979.84M
	Total Debt
65.25M	201.10M	115.19M	120.72M	120.81M	130.90M
	Net Debt
11.37M	148.59M	76.70M	73.68M	86.18M	91.50M
	Total Liabilities
781.68M	1.05B	983.78M	120.72M	120.81M	130.90M
	Stockholders Equity
33.07M	44.38M	59.58M	67.34M	63.22M	66.99M
Cash Flow		Free Cash Flow
3.91M	-11.13M	6.62M	7.17M	6.21M	-12.47M
	Operating Cash Flow
3.92M	-10.71M	7.04M	7.60M	6.28M	-11.91M
	Investing Cash Flow
123.40M	-27.18M	-122.05M	-55.20M	82.92M	-41.78M
	Financing Cash Flow
-133.47M	65.93M	106.46M	60.02M	-93.97M	26.66M

Patriot National Bancorp Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 4.03
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PNBK, the sentiment is Positive. The current price of 4.03 is above the 20-day moving average (MA) of 1.61, above the 50-day MA of 1.40, and above the 200-day MA of 1.71, indicating a bullish trend. The MACD of 0.40 indicates Negative momentum. The RSI at 90.16 is Negative, neither overbought nor oversold. The STOCH value of 89.12 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PNBK.

Patriot National Bancorp Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PLBC	75 Outperform	$240.99M	8.22	16.93%	2.73%	10.64%	3.48%
TSBK	71 Outperform	$230.47M	9.37	10.21%	3.31%	14.86%	-2.29%
LNKB	67 Neutral	$241.08M	9.13	9.61%	4.66%	152.82%	―
Sector *	63 Neutral	$12.07B	9.35	8.15%	79.57%	12.85%	-5.13%
WSBF	60 Neutral	$235.01M	12.12	5.47%	4.93%	12.23%	119.35%
FLIC	59 Neutral	$246.05M	14.42	4.50%	7.73%	10.86%	-34.85%
PNBK	56 Neutral	$297.11M	―	-163.96%	―	-6.52%	-866.16%

Patriot National Bancorp Corporate Events

Patriot National Bancorp CFO Resignation Announced

On March 20, 2025, Patriot National Bancorp completed a $57.75 million private placement involving common and preferred stock, which included amendments to existing notes and a conversion of $7 million into common stock. Additionally, the company entered into a Registration Rights Agreement to register securities for resale with the SEC. On March 24, 2025, David Finn resigned as Executive Vice President and CFO, effective May 15, 2025, to pursue other opportunities, ensuring a smooth management transition.

Patriot National Bancorp Raises $50M in Private Placement

On March 20, 2025, Patriot National Bancorp announced it had entered into securities purchase agreements to raise over $50 million through a private placement. This move is expected to strengthen the company’s balance sheet and enhance its capital ratios. The funds will be used to invest additional capital into Patriot Bank and for general corporate purposes. The announcement also included the resignation of CEO David Lowery, effective April 15, 2025, and the signing of a long-term employment agreement with President Steven Sugarman. The capital raise marks a significant turning point for Patriot National Bancorp, enabling it to pursue new market opportunities.

Patriot National Bancorp Granted Nasdaq Exception

Patriot National Bancorp has received an exception from the Nasdaq Listing Qualifications Department, allowing it to bypass the usual shareholder approval rules due to financial viability concerns. This exception, granted under Nasdaq Listing Rule 5635(f), indicates the company’s efforts to maintain its listing status amidst financial challenges, potentially impacting its operations and stakeholder relations.

Patriot National Bancorp Extends Grace Period to 2025

Patriot National Bancorp announced an amendment to extend the grace period for interest payments on its 8.5% Senior Notes to April 1, 2025. The company reported preliminary financial results for the fourth quarter of 2024, revealing a significant net loss of approximately $9.5 million compared to a net income of $0.9 million in the previous year, largely due to provisions for credit losses. Additionally, the company is exploring strategic alternatives including a potential capital raise or sale, with negotiations underway for a proposed transaction involving a $60 million investment. The potential transaction aims to restore the bank’s capital status and ensure financial stability.