Southern National Bancorp of Virginia, Inc. (SONA) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Southern National Bancorp of Virginia, Inc. (NASDAQ:SONA) from a hold rating to a buy rating in a report published on Friday. They currently have $18.00 price target on the bank’s stock.

According to Zacks, “Headquartered in Charlottesville Virginia, Sonabank is a new regional bank founded by an experienced banking team with close to hundred years of banking experience. They offer a full line of products and services for personal and business banking. Sonabank specializes in small to medium sized business banking. They have extensive experience in Small Business Administration loans as well as other types of financing suited for businesses. “

A number of other research analysts also recently commented on the company. ValuEngine raised Southern National Bancorp of Virginia from a hold rating to a buy rating in a report on Friday, June 2nd. BidaskClub downgraded Southern National Bancorp of Virginia from a sell rating to a strong sell rating in a report on Monday, August 14th.

Southern National Bancorp of Virginia (NASDAQ:SONA) opened at 16.33 on Friday. The firm has a market cap of $390.45 million, a price-to-earnings ratio of 49.04 and a beta of 0.36. Southern National Bancorp of Virginia has a 52-week low of $12.60 and a 52-week high of $18.48. The firm’s 50-day moving average price is $16.55 and its 200 day moving average price is $17.04.

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The company also recently announced a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Monday, August 14th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date was Thursday, August 10th. Southern National Bancorp of Virginia’s dividend payout ratio is presently 91.43%.

In other news, Chairman Georgia S. Derrico bought 4,000 shares of Southern National Bancorp of Virginia stock in a transaction on Monday, August 21st. The shares were bought at an average price of $15.75 per share, with a total value of $63,000.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 10.20% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in SONA. ClariVest Asset Management LLC bought a new position in Southern National Bancorp of Virginia during the 2nd quarter worth approximately $107,000. Royal Bank of Canada lifted its holdings in shares of Southern National Bancorp of Virginia by 137.8% in the 2nd quarter. Royal Bank of Canada now owns 6,277 shares of the bank’s stock worth $110,000 after purchasing an additional 3,637 shares during the last quarter. HighTower Advisors LLC bought a new stake in shares of Southern National Bancorp of Virginia in the 2nd quarter worth approximately $183,000. GSA Capital Partners LLP bought a new stake in shares of Southern National Bancorp of Virginia in the 2nd quarter worth approximately $190,000. Finally, Susquehanna International Group LLP bought a new stake in shares of Southern National Bancorp of Virginia in the 2nd quarter worth approximately $202,000. 52.31% of the stock is currently owned by institutional investors.

About Southern National Bancorp of Virginia

Southern National Bancorp of Virginia, Inc (Southern National) is the bank holding company for Sonabank (Sonabank). The Company’s principal business is the acquisition of deposits from the general public through its branch offices and deposit intermediaries, as well as the use of these deposits to fund its loan and investment portfolios.

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