Patriot National Bancorp (PNBK)


Market Price (9/21/2026): $0.9698 | Market Cap: $113.9 MilSector: Financials | Industry: Regional Banks

Patriot National Bancorp (PNBK)


Market Price (9/21/2026): $0.9698
Market Cap: $113.9 Mil
Sector: Financials
Industry: Regional Banks

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -183%

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 47%

Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -35%

Weak multi-year price returns
2Y Excs Rtn is -82%, 3Y Excs Rtn is -159%

Penny stock
Mkt Price is 1.0

Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 19%

Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -46%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -48%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -9.9%

Key risks
PNBK key risks include [1] a troubled loan portfolio with high concentration in commercial real estate, Show more.

0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -183%
1 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 47%
2 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -35%
3 Weak multi-year price returns
2Y Excs Rtn is -82%, 3Y Excs Rtn is -159%
4 Penny stock
Mkt Price is 1.0
5 Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 19%
6 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -46%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -48%
7 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -9.9%
8 Key risks
PNBK key risks include [1] a troubled loan portfolio with high concentration in commercial real estate, Show more.

PNBK in ETFs

Weight = PNBK's share of each fund

VTI0.00%

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 9/16/2026

Patriot National Bancorp (PNBK) stock has lost about 15% since 5/31/2026 because of the following key factors:

1. Lingering investor skepticism regarding the sustainability of the turnaround despite a return to profitability in fiscal Q2 2026 (ended June 30, 2026). While Patriot National Bancorp reported a net income of $0.143 million and basic earnings per share (EPS) of $0.00069 in fiscal Q2 2026, marking a swing from a $5.001 million net loss in the prior year's comparable quarter, this profit was notably small. Furthermore, the company still recorded a net loss of $1.61 million for the first six months of fiscal year 2026 and a trailing twelve-month net loss of $6.5 million ending June 30, 2026. This minimal profitability, coupled with mentions of "elevated non performing loans" and a "fragile balance sheet," suggests that investors are not yet convinced of a durable recovery.

2. Significant unrealized securities losses and credit card receivables write-downs impacting perceived financial stability. In fiscal Q2 2026, Patriot National Bancorp disclosed $20.96 million in unrealized securities losses and a $5.5 million credit card receivables write-down. These substantial figures can undermine investor confidence by highlighting potential weaknesses in asset quality and increasing concerns about the bank's overall financial health, despite other positive operational improvements.

Show more
Updated on 9/16/2026

Patriot National Bancorp (PNBK) stock has lost about 15% since 5/31/2026 because of the following key factors:

1. Lingering investor skepticism regarding the sustainability of the turnaround despite a return to profitability in fiscal Q2 2026 (ended June 30, 2026). While Patriot National Bancorp reported a net income of $0.143 million and basic earnings per share (EPS) of $0.00069 in fiscal Q2 2026, marking a swing from a $5.001 million net loss in the prior year's comparable quarter, this profit was notably small. Furthermore, the company still recorded a net loss of $1.61 million for the first six months of fiscal year 2026 and a trailing twelve-month net loss of $6.5 million ending June 30, 2026. This minimal profitability, coupled with mentions of "elevated non performing loans" and a "fragile balance sheet," suggests that investors are not yet convinced of a durable recovery.

2. Significant unrealized securities losses and credit card receivables write-downs impacting perceived financial stability. In fiscal Q2 2026, Patriot National Bancorp disclosed $20.96 million in unrealized securities losses and a $5.5 million credit card receivables write-down. These substantial figures can undermine investor confidence by highlighting potential weaknesses in asset quality and increasing concerns about the bank's overall financial health, despite other positive operational improvements.

3. Market valuation concerns and sustained negative investor sentiment. Despite the positive news of the Office of the Comptroller of the Currency (OCC) terminating its Formal Agreement on June 30, 2026, and removing the "troubled condition" designation on July 7, 2026, the stock "barely budged" after the fiscal Q2 2026 earnings release and "drifted down over 7 days, 30 days and 90 days" as of mid-August 2026. Analysts indicated that the stock appeared overvalued in July 2026, and its "rich 1.5x P/B multiple" raised questions about whether it accurately reflected underlying value or simply priced in existing vulnerabilities. The overall sentiment reflected "significant financial challenges, with negative earnings and cash flow issues weighing heavily".

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Stock Movement Drivers

Fundamental Drivers

The -13.4% change in PNBK stock from 5/31/2026 to 9/20/2026 was primarily driven by a -24.8% change in the company's P/S Multiple.
(LTM values as of)53120269202026Change
Stock Price ($)1.120.97-13.4%
Change Contribution By: 
Total Revenues ($ Mil)333917.3%
P/S Multiple3.92.9-24.8%
Shares Outstanding (Mil)115117-1.9%
Cumulative Contribution-13.4%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2026 to 9/20/2026
ReturnCorrelation
PNBK-13.4% 
Market (SPY)0.9%15.6%
Sector (XLF)8.3%42.3%

Fundamental Drivers

The -22.4% change in PNBK stock from 2/28/2026 to 9/20/2026 was primarily driven by a -37.8% change in the company's P/S Multiple.
(LTM values as of)22820269202026Change
Stock Price ($)1.250.97-22.4%
Change Contribution By: 
Total Revenues ($ Mil)273946.6%
P/S Multiple4.72.9-37.8%
Shares Outstanding (Mil)100117-14.9%
Cumulative Contribution-22.4%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 9/20/2026
ReturnCorrelation
PNBK-22.4% 
Market (SPY)11.6%15.8%
Sector (XLF)9.2%33.7%

Fundamental Drivers

The -35.3% change in PNBK stock from 8/31/2025 to 9/20/2026 was primarily driven by a -34.0% change in the company's P/S Multiple.
(LTM values as of)83120259202026Change
Stock Price ($)1.500.97-35.3%
Change Contribution By: 
Total Revenues ($ Mil)263947.4%
P/S Multiple4.42.9-34.0%
Shares Outstanding (Mil)78117-33.5%
Cumulative Contribution-35.3%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 9/20/2026
ReturnCorrelation
PNBK-35.3% 
Market (SPY)19.4%18.9%
Sector (XLF)4.7%30.2%

Fundamental Drivers

The -88.0% change in PNBK stock from 8/31/2023 to 9/20/2026 was primarily driven by a -96.6% change in the company's Shares Outstanding (Mil).
(LTM values as of)83120239202026Change
Stock Price ($)8.060.97-88.0%
Change Contribution By: 
Total Revenues ($ Mil)38392.5%
P/S Multiple0.82.9248.0%
Shares Outstanding (Mil)4117-96.6%
Cumulative Contribution-88.0%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2023 to 9/20/2026
ReturnCorrelation
PNBK-88.0% 
Market (SPY)75.6%10.3%
Sector (XLF)69.8%9.5%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
PNBK Return56%-32%-64%-49%-6%-47%-90%
Peers Return97%-14%25%21%22%26%295%
S&P 500 Return27%-19%24%23%16%12%103%

Monthly Win Rates [3]
PNBK Win Rate58%42%25%33%50%22% 
Peers Win Rate75%42%58%48%60%69% 
S&P 500 Win Rate75%42%67%75%67%44% 

Max Drawdowns [4]
PNBK Max Drawdown-27%-44%-68%-68%-87%-49% 
Peers Max Drawdown-16%-29%-41%-26%-27%-16% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: TMP, NBN, CUBI, SHBI.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/18/2026 (YTD)

How Low Can It Go

EventPNBKS&P 500
2025 US Tariff Shock
  % Loss-21.3%-18.8%
  % Gain to Breakeven27.0%23.1%
  Time to Breakeven3 days79 days
2024 Yen Carry Trade Unwind
  % Loss-12.1%-7.8%
  % Gain to Breakeven13.8%8.5%
  Time to Breakeven41 days18 days
2020 COVID-19 Crash
  % Loss-67.5%-33.7%
  % Gain to Breakeven208.1%50.9%
  Time to Breakeven591 days140 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-28.1%-12.2%
  % Gain to Breakeven39.0%13.9%
  Time to Breakeven646 days62 days
2014-2016 Oil Price Collapse
  % Loss-30.4%-6.8%
  % Gain to Breakeven43.6%7.3%
  Time to Breakeven734 days15 days
2013 Taper Tantrum
  % Loss-34.5%-0.2%
  % Gain to Breakeven52.6%0.2%
  Time to Breakeven150 days1 days

Compare to TMP, NBN, CUBI, SHBI

In The Past

Patriot National Bancorp's stock fell -21.3% during the 2025 US Tariff Shock. Such a loss loss requires a 27.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventPNBKS&P 500
2025 US Tariff Shock
  % Loss-21.3%-18.8%
  % Gain to Breakeven27.0%23.1%
  Time to Breakeven3 days79 days
2020 COVID-19 Crash
  % Loss-67.5%-33.7%
  % Gain to Breakeven208.1%50.9%
  Time to Breakeven591 days140 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-28.1%-12.2%
  % Gain to Breakeven39.0%13.9%
  Time to Breakeven646 days62 days
2014-2016 Oil Price Collapse
  % Loss-30.4%-6.8%
  % Gain to Breakeven43.6%7.3%
  Time to Breakeven734 days15 days
2013 Taper Tantrum
  % Loss-34.5%-0.2%
  % Gain to Breakeven52.6%0.2%
  Time to Breakeven150 days1 days

Compare to TMP, NBN, CUBI, SHBI

In The Past

Patriot National Bancorp's stock fell -21.3% during the 2025 US Tariff Shock. Such a loss loss requires a 27.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Patriot National Bancorp (PNBK)

Patriot National Bancorp, Inc. (PNBK) functions as the holding company for Patriot Bank, N.A., delivering a comprehensive suite of community banking services. Its operations are centered around meeting the financial needs of its local communities through traditional banking functions.

The company offers a diverse range of financial products, including various deposit accounts such as checking, savings, money market, individual retirement accounts (IRAs), and health savings accounts (HSAs). Its lending portfolio is robust, encompassing commercial real estate, commercial business, Small Business Administration (SBA), construction, and purchased residential real estate loans, as well as a variety of consumer loans. Beyond core deposits and loans, Patriot Bank provides essential services like online banking, bill payment, remote deposit capture, debit card services, and ATM access.

PNBK primarily serves individuals, small to medium-sized businesses, and professionals. Its market presence is concentrated in specific regions, with eight branch offices located in Fairfield and New Haven Counties, Connecticut, and an additional branch office situated in Westchester County, New York. The company was founded in 1994 and is headquartered in Stamford, Connecticut.

AI Analysis | Feedback

1. It's like a local Bank of America for Connecticut and Westchester County.

2. Think of it as a regional JPMorgan Chase, serving communities primarily in Connecticut and Westchester County, New York.

AI Analysis | Feedback

  • Deposit Services: Offers various checking, savings, money market, and certificate of deposit accounts for individuals and businesses.
  • Commercial Lending: Provides loans for commercial real estate, business operations, construction projects, and Small Business Administration (SBA) financing.
  • Residential & Consumer Lending: Offers mortgages for residential real estate and various other personal loans to individuals.
  • Digital & Transaction Services: Provides internet banking, bill payment, remote deposit capture, debit cards, ACH transfers, lockbox services, and ATM access.

AI Analysis | Feedback

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Patriot National Bancorp (PNBK), through its subsidiary Patriot Bank, N.A., primarily serves the following categories of customers:

  • Individuals
  • Small and medium-sized businesses
  • Professionals
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AI Analysis | Feedback

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Steven Sugarman, President and Chief Executive Officer

Steven Sugarman is an accomplished entrepreneur, investor, executive leader, and philanthropist who serves as President and Chief Executive Officer of Patriot National Bancorp, Inc. (PNBK) and Patriot Bank, N.A., and also as Chair of the Patriot National Bancorp Inc. Board of Directors. He was appointed President and Director of PNBK on December 30, 2024, and President, CEO, and Director of Patriot Bank, N.A. on April 30, 2025. Mr. Sugarman founded and served as the Chief Executive Officer of Banc of California (NYSE: BANC), The Change Company CDFI, and the holding company of COR Clearing. Under his leadership, Banc of California was recognized as one of Forbes Magazine's Top Banks in America. He founded The Change Company in 2017, a Community Development Financial Institution (CDFI) dedicated to providing fair and responsible lending to underserved communities. He also served as Director & CEO of COR Securities Holdings Inc. / COR Clearing LLC, leading the firm through a successful sale to Axos Clearing. Earlier in his career, he worked as a management consultant for McKinsey & Company and as an investment professional at Lehman Brothers. He was brought on to lead Patriot's strategic restructuring efforts in 2025.

David Finn, Interim Chief Financial Officer and Executive Vice President

David Finn was appointed Interim Chief Financial Officer and Executive Vice President, effective October 30, 2024. He joined Patriot Bank on August 5, 2024, as Executive Vice President and Senior Finance Officer and brings over 25 years of industry experience. Prior to Patriot Bank, he served as Senior Vice President at First Citizens Bank (formerly CIT Group Inc.) from May 2014 to June 2023, where he was responsible for all regulatory reporting. He held various finance roles at CIT Group Inc. starting in 1998, including Global Controller of Equipment Finance and Non-Strategic Portfolios, and CFO of the Consumer Finance segment. Before that, he worked with Price Waterhouse LLP and Coopers & Lybrand LLP.

Paul Simmons, Executive Vice President, Chief Credit Officer

Paul Simmons is the Executive Vice President and Chief Credit Officer at Patriot Bank. He is a seasoned banking executive with over 35 years of experience in commercial lending, credit, and financial services. Prior to joining Patriot Bank, Mr. Simmons served as Executive Vice President and Chief Credit Officer of Sunwest Bank, Silvergate Bank, and Banc of California. He also held senior leadership positions at Citigroup, GE Capital, Apollo Real Estate Advisors, and Zions Bancorporation.

Angie Miranda, Executive Vice President and Chief Risk Officer

Angie Miranda was appointed Executive Vice President and Chief Risk Officer, effective May 6, 2025. She brings expertise in risk management to the leadership team.

Thedora Nickel, Chair of the Patriot Bank Board of Directors

Thedora Nickel serves as the Chair of the Patriot Bank Board of Directors, an appointment made on October 30, 2025. She has over 30 years of banking experience with deep expertise in operations, client service, and organizational transformation. Ms. Nickel currently serves as Executive Director of The Change Company and Change Lending. Her previous roles include Chief Administrative Officer at Banc of California and various senior leadership positions at Bank of America.

AI Analysis | Feedback

The key risks for Patriot National Bancorp (PNBK) are as follows:

  1. Significant Regulatory Issues and "Troubled Condition" Designation: Patriot National Bancorp, through its subsidiary Patriot Bank, N.A., has been designated a "troubled condition" bank by the Office of the Comptroller of the Currency (OCC). This designation, issued in January 2025, stems from identified "unsafe or unsound practices and violations of law" across several critical areas. These areas include deficiencies in strategic planning, capital planning, Bank Secrecy Act/Anti-Money Laundering (BSA/AML) risk management, payment activities oversight, credit administration, and concentrations risk management. The bank is operating under a formal agreement with the OCC, requiring comprehensive corrective actions, which are leading to increased operational costs and have contributed to substantial net losses (e.g., a net loss of approximately $20.0 million for the trailing twelve months ending September 30, 2025, and $39.9 million for fiscal year 2024).
  2. High Commercial Real Estate (CRE) Loan Concentration and Credit Risk: Patriot National Bancorp has a notable reliance on commercial real estate loans and small businesses, which presents ongoing risks, particularly amidst economic uncertainties. Community banks like Patriot Bank often have an above-average exposure to the CRE sector. The commercial real estate market has experienced significant shifts since 2022 due to rising interest rates, changing occupancy patterns, and evolving borrower behaviors, leading to heightened portfolio risk. Concerns include upcoming CRE loan maturities, challenges in cash-flow adequacy for borrowers under increased expenses, and rising delinquency rates within CRE portfolios. Office property values remain depressed, and softness in the multifamily sector is anticipated to persist.
  3. Interest Rate Risk and Profitability Challenges: As a community bank primarily relying on traditional lending, Patriot National Bancorp is highly sensitive to fluctuations in interest rates, which can significantly impact its profitability. Rising interest rates can lead to earnings pressure if the cost of funding for deposits increases faster than the yields on its assets. The bank has faced intense competition for core funding, resulting in higher deposit rates, margin compression, and reduced profitability. Patriot National Bancorp has a history of financial struggles, reporting losses in multiple recent years (2019, 2020, 2023, and 2024) and exhibiting very low returns on assets and equity, underscoring its vulnerability to interest rate changes and persistent challenges in maintaining a healthy net interest margin.

AI Analysis | Feedback

The clear emerging threat for Patriot National Bancorp, Inc. (PNBK) is the rapid rise and increasing adoption of digital-first financial technology (fintech) companies, including neobanks and online lenders.

These entities operate with significantly lower overhead due to their lack of physical branches, allowing them to offer competitive deposit rates, lower fees, and streamlined lending products (consumer, small business, and commercial) primarily through advanced mobile applications and online platforms. This model directly challenges PNBK's traditional branch-based community banking services, potentially eroding its customer base by attracting individuals and small businesses who prioritize digital convenience, speed, and cost-effectiveness over in-person branch interactions. The increasing sophistication and marketing efforts of these digital competitors pose a significant threat to PNBK's ability to attract and retain both deposit accounts and loan customers within its geographic markets.

AI Analysis | Feedback

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AI Analysis | Feedback

Patriot National Bancorp (PNBK) is expected to drive future revenue growth over the next two to three years through several strategic initiatives:

  • Digital Payments Expansion: The company is actively expanding its Digital Payments Division, which has already contributed to an increase in non-interest income and is viewed as a growing segment that diversifies the bank's revenue streams.
  • Specialized Lending and CDFI Partnerships: Patriot National Bancorp's new leadership is focusing on growth through Community Development Financial Institution (CDFI) partnerships, aiming to achieve both social impact and financial returns in niche markets. Additionally, the bank has launched new commercial real estate and high-net-worth lending products.
  • Targeting High-Net-Worth Clients and Institutional Partners: A core strategy involves repositioning the bank to serve high-net-worth clients, family offices, and their associated businesses. This includes expanding private client offices and introducing a dedicated high-net-worth division. The bank is also concentrating its deposit-gathering efforts on affluent customers through specialized platforms like a concierge service and a new Founders Club.
  • Geographic Market Expansion: PNBK plans to increase its client penetration and expand its private client offices in key markets. These targeted areas include New York, Greenwich, Beverly Hills, Palm Beach, and Dallas. The company is also exploring additional expansion opportunities in Florida and Texas.

AI Analysis | Feedback

Share Issuance

  • On March 20, 2025, Patriot National Bancorp completed a private placement, issuing 60,400,106 shares of common stock at $0.75 per share and 90,832 shares of Series A Non-Cumulative Perpetual Convertible Preferred Stock with a liquidation preference of $60 per share, raising over $50 million in gross proceeds.
  • Concurrently with the March 2025 private placement, noteholders converted approximately $7 million of the bank's subordinated and senior notes into 9,333,334 common shares.
  • On June 5, 2025, the company completed a registered direct offering of 8,524,160 shares of its common stock at a purchase price of $1.25 per share, raising gross proceeds of $10,655,200.

Inbound Investments

  • In 2025, Patriot National Bancorp successfully raised nearly $100 million in equity through a series of capital raises, including a private placement and a registered direct offering.
  • The March 20, 2025 private placement raised over $50 million from a diverse group of accredited investors, with President Steven Sugarman personally acquiring 7,019,978 shares for approximately $5.26 million.
  • The capital infusions in 2025 were crucial for stabilizing the bank's balance sheet, strengthening its capital base, and meeting regulatory requirements.

Capital Expenditures

  • Proceeds from the March 2025 private placement were designated to increase equity capital, strengthen the balance sheet, and support the enhancement of Patriot Bank's digital payments platform.
  • In 2025, the bank undertook a wholesale restructuring, which involved retiring legacy loan programs, introducing new commercial real estate and high-net-worth lending products, refocusing deposit-gathering on affluent customers through a concierge platform and a new Founders Club, and expanding institutional banking and digital payments capabilities.
  • The bank also made investments in strengthening enterprise risk management.

Peer Outperformance in Regional Banks

PNBK has trailed 100% of its 264 Regional Banks peers over 5Y. Regional Banks ranks 7th of 18 industries in Financials by median 5Y return.
Share of Regional Banks constituents that PNBK has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
2%
of 288 industry peers · -32.2% return
3Y
0%
of 277 industry peers · -87.9% return
5Y
0%
of 264 industry peers · -89.6% return
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Median price return by industry across the Financials sector, ranked by 5Y. Regional Banks is PNBK's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Reinsurance 6 24.2%70.6%133.7% SPNT 170% · RGA 154% · RNR 140%
Investment Banking & Brokerage 13 -1.7%105.1%116.5% IBKR 527% · SNEX 257% · HOOD 183%
Diversified Banks 12 27.5%129.8%116.3% CM 161% · JPM 159% · RY 149%
Life & Health Insurance 20 8.6%57.6%105.8% JXN 534% · UNM 373% · FG 207%
Multi-Sector Holdings 4 6.8%50.2%87.3% JONE 361% · VOYA 88% · BRK-B 87%
Property & Casualty Insurance 42 9.6%67.5%67.8% ASIC 2760900% · HRTG 445% · UVE 331%
Regional Banks ← 265 23.9%91.7%67.1% ESQ 391% · GCBC 340% · VBNK 335%
Multi-line Insurance 9 8.8%71.2%64.1% GNW 201% · L 112% · SLF 104%
Financial Exchanges & Data 15 -0.1%17.4%32.7% VIRT 184% · CBOE 135% · CME 83%
Diversified Financial Services 4 -7.3%22.1%32.6% FRHC 168% · EQH 119% · TMS -54%
Consumer Finance 30 1.7%89.6%26.9% ENVA 447% · EZPW 319% · FCFS 168%
Insurance Brokers 16 -15.1%-6.3%20.3% LIFE 200% · ARX 87% · AJG 70%
Commercial & Residential Mortgage Finance 14 -50.2%32.8%13.9% FNMA 454% · FMCC 436% · ACT 204%
Asset Management & Custody Banks 84 -11.7%17.6%12.0% WT 348% · SII 279% · VCTR 274%
Specialized Finance 3 14.0%42.2%-2.8% EFC 27% · CACC -3% · HASI -16%
Mortgage REITs 33 -13.0%7.4%-16.5% NREF 53% · RITM 42% · DX 34%
Transaction & Payment Processing Services 15 -1.0%-5.9%-42.9% V 74% · MA 73% · CPAY 58%
Diversified Capital Markets 20 -36.3%20.7%-48.1% OPY 196% · LPLA 136% · GOLD 90%
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

Latest Trefis Analyses

Title
0ARTICLES

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

PNBKTMPNBNCUBISHBIMedian
NamePatriot .Tompkins.Northeas.Customer.Shore Ba. 
Mkt Price0.9799.34133.4477.6123.2377.61
Mkt Cap0.11.41.12.60.81.1
Rev LTM39261223906237237
Op Inc LTM------
FCF LTM-1948-642298748
FCF 3Y Avg-1272-31724949
CFO LTM-1857-633819057
CFO 3Y Avg-1279-22675353

Growth & Margins

PNBKTMPNBNCUBISHBIMedian
NamePatriot .Tompkins.Northeas.Customer.Shore Ba. 
Rev Chg LTM47.4%-17.0%8.9%38.3%11.3%11.3%
Rev Chg 3Y Avg4.7%0.2%22.8%16.2%26.2%16.2%
Rev Chg Q92.6%5.4%1.2%10.6%9.2%9.2%
QoQ Delta Rev Chg LTM17.3%1.7%0.3%2.4%2.2%2.2%
Op Inc Chg LTM------
Op Inc Chg 3Y Avg------
Op Mgn LTM------
Op Mgn 3Y Avg------
QoQ Delta Op Mgn LTM------
CFO/Rev LTM-45.8%21.9%-28.1%42.0%38.0%21.9%
CFO/Rev 3Y Avg-35.0%30.4%0.0%35.3%23.9%23.9%
FCF/Rev LTM-47.6%18.3%-28.8%25.3%36.8%18.3%
FCF/Rev 3Y Avg-36.0%27.7%-0.8%23.3%21.6%21.6%

Valuation

PNBKTMPNBNCUBISHBIMedian
NamePatriot .Tompkins.Northeas.Customer.Shore Ba. 
Mkt Cap0.11.41.12.60.81.1
P/S2.95.45.02.93.33.3
P/Op Inc------
P/EBIT------
P/E-17.48.110.39.011.79.0
P/CFO-6.424.8-17.76.98.66.9
Total Yield-5.7%15.1%9.7%11.1%10.7%10.7%
Dividend Yield0.0%2.7%0.0%0.0%2.2%0.0%
FCF Yield 3Y Avg-39.4%8.4%0.5%7.8%7.8%7.8%
D/E0.10.40.80.90.10.4
Net D/E-1.8-0.40.4-0.9-0.5-0.5

Returns

PNBKTMPNBNCUBISHBIMedian
NamePatriot .Tompkins.Northeas.Customer.Shore Ba. 
1M Rtn-5.8%1.5%2.3%-2.7%0.1%0.1%
3M Rtn-9.3%12.0%5.5%2.4%6.4%5.5%
6M Rtn-31.7%36.4%25.5%17.2%32.6%25.5%
12M Rtn-32.2%48.4%22.0%16.7%38.6%22.0%
3Y Rtn-87.9%133.4%208.9%140.7%142.8%140.7%
1M Excs Rtn-7.7%3.1%3.9%-0.7%2.2%2.2%
3M Excs Rtn-11.3%10.0%3.5%0.4%4.4%3.5%
6M Excs Rtn-47.0%19.9%8.2%1.5%15.7%8.2%
12M Excs Rtn-49.9%34.2%6.6%-0.1%24.1%6.6%
3Y Excs Rtn-159.0%55.6%125.5%58.6%61.8%58.6%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Banking292834  
Community Banking   3730
Total2928343730


Operating Income by Segment
$ Mil200420032002
Bank211
Mortgage Broker-011
Total222


Assets by Segment
$ Mil200420032002
Bank404341247
Mortgage Broker111
Total405342248


Price Behavior

Price Behavior
Market Price$0.97 
Market Cap ($ Bil)0.1 
First Trading Date09/01/1994 
Distance from 52W High-49.5% 
   50 Days200 Days
DMA Price$1.09$1.28
DMA Trenddowndown
Distance from DMA-10.7%-24.2%
 3M1YR
Volatility80.3%69.6%
Downside Capture157.20109.21
Upside Capture88.7744.84
Correlation (SPY)20.8%18.8%
PNBK Betas & Captures as of 8/31/2026

 1M2M3M6M1Y3Y
Beta-0.241.290.520.580.890.74
Up Beta-0.880.290.270.121.010.48
Down Beta5.064.151.881.991.780.13
Up Capture-88%37%3%11%18%37%
Bmk +ve Days10213268138427
Stock +ve Days8162448106300
Down Capture36%168%34%67%88%111%
Bmk -ve Days11213259113324
Stock -ve Days10223568123365

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with PNBK
PNBK-34.1%69.5%-0.32-
Sector ETF (XLF)4.5%14.6%0.0829.9%
Equity (SPY)16.9%12.9%0.9418.8%
Gold (GLD)19.1%29.3%0.608.2%
Commodities (DBC)46.3%20.6%1.73-6.9%
Real Estate (VNQ)4.9%13.6%0.1011.3%
Bitcoin (BTCUSD)-30.6%44.3%-0.7018.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with PNBK
PNBK-26.3%105.5%0.12-
Sector ETF (XLF)10.1%18.4%0.419.1%
Equity (SPY)12.9%17.2%0.579.2%
Gold (GLD)19.1%18.8%0.833.0%
Commodities (DBC)11.2%19.5%0.453.7%
Real Estate (VNQ)1.1%18.8%-0.055.6%
Bitcoin (BTCUSD)12.5%52.5%0.427.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with PNBK
PNBK-17.9%79.9%0.08-
Sector ETF (XLF)12.9%22.1%0.5312.4%
Equity (SPY)15.1%18.0%0.7213.4%
Gold (GLD)12.1%16.4%0.612.0%
Commodities (DBC)8.3%18.1%0.375.4%
Real Estate (VNQ)4.4%20.7%0.1812.6%
Bitcoin (BTCUSD)62.6%66.2%1.025.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date8312026
Short Interest: Shares Quantity1.2 Mil
Short Interest: % Change Since 815202627.5%
Average Daily Volume0.2 Mil
Days-to-Cover Short Interest5.8 days
Basic Shares Quantity117.5 Mil
Short % of Basic Shares1.0%

Earnings Returns History

Updated 7/31/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/14/2023-5.3%-7.0%-11.0%
5/15/2023-3.0%-0.4%6.4%
3/7/2023-1.3%-7.2%-18.7%
8/5/20222.5%1.3%-0.8%
SUMMARY STATS   
# Positive111
# Negative333
Median Positive2.5%1.3%6.4%
Median Negative-3.0%-7.0%-11.0%
Max Positive2.5%1.3%6.4%
Max Negative-5.3%-7.2%-18.7%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/14/2023-5.3%-7.0%-11.0%
5/15/2023-3.0%-0.4%6.4%
3/7/2023-1.3%-7.2%-18.7%
8/5/20222.5%1.3%-0.8%
SUMMARY STATS   
# Positive111
# Negative333
Median Positive2.5%1.3%6.4%
Median Negative-3.0%-7.0%-11.0%
Max Positive2.5%1.3%6.4%
Max Negative-5.3%-7.2%-18.7%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/14/202610-Q
03/31/202605/15/202610-Q
12/31/202503/31/202610-K
09/30/202511/14/202510-Q
06/30/202508/14/202510-Q
03/31/202505/14/202510-Q
12/31/202404/15/202510-K
09/30/202411/19/202410-Q
06/30/202408/09/202410-Q
03/31/202405/15/202410-Q
12/31/202304/01/202410-K
09/30/202311/14/202310-Q
06/30/202308/10/202310-Q
03/31/202305/12/202310-Q
12/31/202203/29/202310-K
09/30/202211/14/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/14/202610-Q
03/31/202605/15/202610-Q
12/31/202503/31/202610-K
09/30/202511/14/202510-Q
06/30/202508/14/202510-Q
03/31/202505/14/202510-Q
12/31/202404/15/202510-K
09/30/202411/19/202410-Q
06/30/202408/09/202410-Q
03/31/202405/15/202410-Q
12/31/202304/01/202410-K
09/30/202311/14/202310-Q
06/30/202308/10/202310-Q
03/31/202305/12/202310-Q
12/31/202203/29/202310-K
09/30/202211/14/202210-Q
06/30/202208/11/202210-Q
03/31/202205/13/202210-Q
12/31/202103/24/202210-K
09/30/202111/10/202110-Q
06/30/202108/16/202110-Q
03/31/202105/14/202110-Q
12/31/202003/30/202110-K
09/30/202011/13/202010-Q
06/30/202008/13/202010-Q
03/31/202006/08/202010-Q
12/31/201904/29/202010-K
09/30/201911/13/201910-Q

Insider Activity

Updated 9/10/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1De, Tomasi Mario DirectBuy91020260.9663,00060,480262,023Form
2De, Tomasi Mario DirectBuy52920260.9685,00081,600180,210Form
3De, Tomasi Mario DirectBuy52220261.1587,719100,877118,127Form
4Magzanyan, Anahit DirectBuy42420260.00400  Form
5Magzanyan, Anahit DirectBuy42420260.00500  Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1De, Tomasi Mario DirectBuy91020260.9663,00060,480262,023Form
2De, Tomasi Mario DirectBuy52920260.9685,00081,600180,210Form
3De, Tomasi Mario DirectBuy52220261.1587,719100,877118,127Form
4Magzanyan, Anahit DirectBuy42420260.00400  Form
5Magzanyan, Anahit DirectBuy42420260.00500  Form
6Magzanyan, Anahit DirectBuy42420260.00175  Form
7Magzanyan, Anahit DirectBuy42420260.00375  Form
Core Cache Last Updated: 9/20/2026