NasdaqGM:PNBK

Stock Analysis Report

Patriot National Bancorp

Executive Summary

Patriot National Bancorp, Inc. operates as the holding company for Patriot Bank, N.A.

Snowflake

Fundamentals

Adequate balance sheet and overvalued.

Share Price & News

How has Patriot National Bancorp's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

0.4%

PNBK

2.9%

US Banks

0.07%

US Market


1 Year Return

-39.5%

PNBK

8.6%

US Banks

8.9%

US Market

Return vs Industry: PNBK underperformed the US Banks industry which returned 8.6% over the past year.

Return vs Market: PNBK underperformed the US Market which returned 8.9% over the past year.


Shareholder returns

PNBKIndustryMarket
7 Day0.4%2.9%0.07%
30 Day0.2%3.4%-0.3%
90 Day-12.5%2.1%-1.6%
1 Year-39.4%-39.5%11.8%8.6%11.3%8.9%
3 Year-2.7%-3.2%54.8%44.1%46.3%36.8%
5 Year-28.5%-28.9%70.2%51.6%62.1%44.3%

Price Volatility Vs. Market

How volatile is Patriot National Bancorp's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Patriot National Bancorp undervalued compared to its fair value and its price relative to the market?

0.72x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: PNBK ($12.58) is trading above our estimate of fair value ($4.73)

Significantly Below Fair Value: PNBK is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: PNBK is unprofitable, so we can't compare its PE Ratio to the Banks industry average.

PE vs Market: PNBK is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate PNBK's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: PNBK is good value based on its PB Ratio (0.7x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is Patriot National Bancorp forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

30.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PNBK is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: PNBK is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: PNBK is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: Insufficient data to determine if PNBK's revenue is forecast to grow faster than the US market.

High Growth Revenue: Insufficient data to determine if PNBK's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if PNBK's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Patriot National Bancorp performed over the past 5 years?

-35.9%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: PNBK is unprofitable, and losses have increased over the past 5 years at a rate of -35.9% per year.

Accelerating Growth: Unable to compare PNBK's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: PNBK is unprofitable, making it difficult to compare its past year earnings growth to the Banks industry (29.7%).


Return on Equity

High ROE: PNBK has a negative Return on Equity (-0.35%), as it is currently unprofitable.


Return on Assets

ROA vs Industry: PNBK is currently unprofitable, so its Return on Assets is negative.


Return on Capital Employed

ROCE Improving: PNBK is currently unprofitable, so its Return on Capital Employed is negative.


Next Steps

Financial Health

How is Patriot National Bancorp's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: PNBK has a low level of unsold assets or inventory.

Debt Coverage by Assets: PNBK's debt is not covered by short term assets (assets are 0.5x debt).


Financial Institutions Analysis

Asset Level: PNBK's level of assets compared to its equity is moderate.

Allowance for Bad Loans: PNBK has a low allowance for bad loans.

Low Risk Liabilities: PNBK's liabilities are made up of primarily low risk sources of funding.

Loan Level: PNBK has an acceptable proportion of non-loan assets held.

Low Risk Deposits: PNBK's loans are broadly funded by customer deposits.

Level of Bad Loans: PNBK has a high level of bad loans (2.42%)


Next Steps

Dividend

What is Patriot National Bancorp's current dividend yield, its reliability and sustainability?

0.32%

Current Dividend Yield


Dividend Yield vs Market

company0.3%marketbottom25%1.4%markettop25%3.7%industryaverage2.9%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: PNBK's dividend (0.32%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: PNBK's dividend (0.32%) is low compared to the top 25% of dividend payers in the US market (3.68%).

Stable Dividend: PNBK is not paying a notable dividend for the US market, therefore no need to check if payments are stable.

Growing Dividend: PNBK is not paying a notable dividend for the US market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: PNBK is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of PNBK's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

What is the CEO of Patriot National Bancorp's salary, the management and board of directors tenure and is there insider trading?

3.0yrs

Average management tenure


CEO

Michael Carrazza (53yo)

3.2yrs

Tenure

US$803,636

Compensation

Mr. Michael A. Carrazza has been Chief Executive Officer of Patriot National Bancorp Inc. and Patriot Bank, National Association since August 19, 2016. Mr. Carrazza serves as the Managing Partner and Chief ...


CEO Compensation Analysis

Compensation vs. Market: Michael's total compensation ($USD803.64K) is about average for companies of similar size in the US market ($USD509.30K).

Compensation vs Earnings: Michael's compensation has increased whilst the company is unprofitable.


Management Age and Tenure

3.0yrs

Average Tenure

58yo

Average Age

Experienced Management: PNBK's management team is considered experienced (3 years average tenure).


Board Age and Tenure

7.8yrs

Average Tenure

55yo

Average Age

Experienced Board: PNBK's board of directors are considered experienced (7.8 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

SellUS$49,48905 Apr 19
Frederick Staudmyer
EntityIndividual
Role
Head of Human Resources
Secretary & Chief Human Resources Officer
Shares2,875
Max PriceUS$22.00

Ownership Breakdown


Management Team

  • Joseph Perillo (63yo)

    Executive VP & CFO

    • Tenure: 2.4yrs
    • Compensation: US$269.42k
  • Michael Carrazza (53yo)

    Chairman & CEO

    • Tenure: 3.2yrs
    • Compensation: US$803.64k
  • Rick Muskus (51yo)

    President & Director

    • Tenure: 2.3yrs
    • Compensation: US$345.88k
  • Fred Staudmyer (63yo)

    Secretary & Chief Human Resources Officer

    • Tenure: 4.9yrs
    • Compensation: US$263.91k

Board Members

  • Michael Carrazza (53yo)

    Chairman & CEO

    • Tenure: 3.2yrs
    • Compensation: US$803.64k
  • Michael Weinbaum (52yo)

    Independent Director

    • Tenure: 9yrs
    • Compensation: US$61.36k
  • Emile Van den Bol (55yo)

    Independent Director

    • Tenure: 9yrs
    • Compensation: US$100.86k
  • Raymond Smyth (73yo)

    Independent Director

    • Tenure: 7.8yrs
    • Compensation: US$95.13k
  • Ed Constantino (72yo)

    Lead Independent Director

    • Tenure: 1yrs
    • Compensation: US$91.31k
  • Rick Muskus (51yo)

    President & Director

    • Tenure: 2.3yrs
    • Compensation: US$345.88k
  • Brent Ciurlino (60yo)

    Independent Director

    • Tenure: 1yrs
    • Compensation: US$13.12k

Company Information

Patriot National Bancorp, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Patriot National Bancorp, Inc.
  • Ticker: PNBK
  • Exchange: NasdaqGM
  • Founded: 1994
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$49.346m
  • Shares outstanding: 3.92m
  • Website: https://www.bankpatriot.com

Number of Employees


Location

  • Patriot National Bancorp, Inc.
  • 900 Bedford Street
  • Stamford
  • Connecticut
  • 6901
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PNBKNasdaqGM (Nasdaq Global Market)YesCommon StockUSUSDAug 1994

Biography

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 comp ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/22 23:41
End of Day Share Price2019/10/21 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.