Patriot National Bancorp (PNBK) AI Stock Analysis

• Market Cap: $100.89M
• Dividend Yield: N/A
• Average Volume (3M): 651.15K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.34
• Revenue Growth: -10.46%
• EPS Growth: -984.80%
• Country: US
• Employees: 129
• Sector: Financial
• Sector Strength: 82
• Industry: Banks - Regional
• EPS (TTM): -10.02
• Shares Outstanding: 84,783,830
• 10 Day Avg. Volume: 1,482,291
• 30 Day Avg. Volume: 651,154
• PEG Ratio: 0.41
• Price to Book (P/B): 0.40
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -128.56
• Enterprise Value/Market Cap: 4.37
• Enterprise Value/Revenue: 2.47
• Enterprise Value/Gross Profit: 49.27
• Enterprise Value/Ebitda: -10.99
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

• Rating: 47 Neutral
• Price Target: $1.00 ▼(-21.26%Downside)

Patriot National Bancorp's overall stock score reflects its financial challenges, with declining revenues and operational inefficiencies. Technical analysis indicates bearish momentum, further weighing on the score. However, recent capital raises and leadership changes offer a potential turnaround opportunity, slightly offsetting other negative factors.

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 is facing financial challenges with persistent net losses and a weak balance sheet. Despite revenue growth, negative net profit margins and cash flow issues highlight financial instability.

Income Statement

The income statement shows some positive trends with revenue growth from 2023 to 2024, but persistent net losses are concerning. The gross profit margin remains consistent at 100% due to the nature of the banking sector. However, the net profit margin is negative, reflecting significant losses which impact overall profitability.

Balance Sheet

The balance sheet indicates a high level of liabilities relative to equity, leading to a weak equity position. The debt-to-equity ratio improved in 2024 due to reduced debt, but equity is still very low. Return on equity is negative due to net losses, highlighting profitability issues.

Cash Flow

Cash flow analysis shows negative free cash flow and operating cash flow, indicating cash management challenges. The free cash flow position has deteriorated from previous years, and the operating cash flow to net income ratio is unfavorable, further affecting financial flexibility.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
37.82M	52.36M	27.08M	36.63M	29.55M	25.96M
	Gross Profit
8.94M	52.36M	27.08M	36.63M	29.55M	25.96M
	EBIT
-5.67M	52.00M	-4.28M	17.03M	5.01M	-4.16M
	EBITDA
-12.83M	0.00	-4.28M	9.23M	6.65M	-2.56M
	Net Income Common Stockholders
-42.36M	-39.88M	-4.18M	6.16M	5.09M	-3.82M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
83.18M	83.29M	52.52M	89.70M	141.39M	83.90M
	Total Assets
956.61M	1.01B	1.09B	1.04B	948.48M	880.73M
	Total Debt
0.00	33.07M	201.10M	115.19M	120.72M	120.81M
	Net Debt
-2.53M	-114.50M	148.59M	76.70M	73.68M	86.18M
	Total Liabilities
899.47M	1.01B	1.05B	983.78M	120.72M	120.81M
	Stockholders Equity
57.15M	4.26M	44.38M	59.58M	67.34M	63.22M
Cash Flow		Free Cash Flow
-3.39M	-745.00K	-11.13M	6.62M	7.17M	6.21M
	Operating Cash Flow
-6.96M	-745.00K	-10.71M	7.04M	7.60M	6.28M
	Investing Cash Flow
124.40M	135.01M	-27.18M	-122.05M	-55.20M	82.92M
	Financing Cash Flow
-77.45M	-41.62M	65.93M	106.46M	60.02M	-93.97M

Patriot National Bancorp Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.27
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PNBK, the sentiment is Negative. The current price of 1.27 is below the 20-day moving average (MA) of 3.86, below the 50-day MA of 3.07, and below the 200-day MA of 2.05, indicating a bearish trend. The MACD of -0.72 indicates Positive momentum. The RSI at 32.54 is Neutral, neither overbought nor oversold. The STOCH value of 2.18 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PNBK.

Patriot National Bancorp Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TSBK	77 Outperform	$238.22M	9.31	10.54%	3.32%	12.28%	5.73%
PLBC	76 Outperform	$251.33M	8.58	16.93%	2.69%	10.64%	3.48%
LNKB	71 Outperform	$255.34M	7.08	12.74%	4.39%	77.09%	―
Sector *	64 Neutral	$12.77B	9.77	7.59%	16985.66%	12.30%	-7.71%
WSBF	60 Neutral	$251.03M	12.99	5.50%	4.56%	5.89%	96.63%
PNBK	47 Neutral	$100.89M	―	-84.06%	―	-10.46%	-984.80%

Patriot National Bancorp Corporate Events

Patriot National Bancorp Completes $10M Stock Offering

On June 5, 2025, Patriot National Bancorp announced the completion of a registered direct offering, raising over $10 million by selling 8,524,160 shares of common stock at $1.25 per share. This follows a previous private placement in March 2025 that raised over $50 million. The successful offering strengthens the bank’s capital base, enhancing its ability to execute strategic objectives and better serve its clients and communities.

Patriot National Bancorp Announces Securities Purchase Agreement

Patriot National Bancorp, Inc. announced a securities purchase agreement with accredited investors to issue and sell 8,524,160 shares of its common stock at $1.25 per share, aiming to raise approximately $10.47 million. The proceeds will be used for general corporate purposes, and the offering is expected to close around June 5, 2025, without the involvement of underwriters or placement agents.

Patriot National Bancorp Enhances Leadership and Governance

Patriot National Bancorp, Inc. recently executed a conversion of Senior Notes into common stock, involving key stakeholders such as Solaia Capital Holdings LLC, enhancing its capital structure. Additionally, the company made significant leadership appointments within Patriot Bank, including Paul Simmons as EVP and Chief Credit Officer, and other senior vice presidents, aiming to strengthen its management team and focus on delivering high-quality banking solutions. The company also amended its bylaws to allow shareholder actions without meetings, reflecting a strategic shift towards more flexible governance. These developments are expected to bolster Patriot Bank’s market position and operational efficiency.

Patriot National Bancorp Appoints New CEO and President

On April 30, 2025, Patriot National Bancorp, Inc. announced the appointment of Steven Sugarman as President, Chief Executive Officer, and Director of its wholly-owned subsidiary, Patriot Bank, N.A., effective immediately. Angie Miranda was appointed as Executive Vice President, Chief Risk Officer, effective May 6, 2025. These leadership changes are expected to bring significant experience and strategic direction to the bank, potentially impacting its operations and market positioning positively. Sugarman’s extensive background in financial services and Miranda’s expertise in risk management are anticipated to strengthen the bank’s leadership team.

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.