Southern National Bancorp of Virginia, Inc. (SONA) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Southern National Bancorp of Virginia, Inc. (NASDAQ:SONA) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.

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. “

Several other research firms have also weighed in on SONA. ValuEngine raised shares of Southern National Bancorp of Virginia from a hold rating to a buy rating in a research note on Friday, June 2nd. BidaskClub lowered shares of Southern National Bancorp of Virginia from a sell rating to a strong sell rating in a research note on Monday, August 14th.

Shares of Southern National Bancorp of Virginia (SONA) opened at 16.32 on Thursday. The firm has a market capitalization of $390.21 million, a price-to-earnings ratio of 49.01 and a beta of 0.36. The company’s 50-day moving average is $16.58 and its 200 day moving average is $17.04. Southern National Bancorp of Virginia has a 1-year low of $12.60 and a 1-year high of $18.48.

ILLEGAL ACTIVITY NOTICE: “Southern National Bancorp of Virginia, Inc. (SONA) Cut to “Hold” at Zacks Investment Research” was published by Markets Daily and is the property of of Markets Daily. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of U.S. & international copyright laws. The legal version of this piece of content can be viewed at https://www.themarketsdaily.com/2017/09/10/southern-national-bancorp-of-virginia-inc-sona-cut-to-hold-at-zacks-investment-research.html.

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

In other news, Chairman Georgia S. Derrico acquired 4,000 shares of Southern National Bancorp of Virginia stock in a transaction that occurred on Monday, August 21st. The shares were acquired at an average price of $15.75 per share, with a total value of $63,000.00. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.60% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in SONA. Castle Creek Capital Partners IV LP bought a new position in Southern National Bancorp of Virginia in the second quarter valued at approximately $11,791,000. Banc Funds Co. LLC lifted its stake in Southern National Bancorp of Virginia by 53.5% in the second quarter. Banc Funds Co. LLC now owns 1,480,747 shares of the bank’s stock valued at $26,061,000 after buying an additional 516,330 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Southern National Bancorp of Virginia by 3,608.9% in the second quarter. The Manufacturers Life Insurance Company now owns 367,407 shares of the bank’s stock valued at $6,466,000 after buying an additional 357,501 shares in the last quarter. PL Capital Advisors LLC bought a new position in Southern National Bancorp of Virginia in the second quarter valued at approximately $2,084,000. Finally, FSI Group LLC bought a new position in Southern National Bancorp of Virginia in the second quarter valued at approximately $1,929,000. 52.31% of the stock is currently owned by institutional investors and hedge funds.

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.

Get a free copy of the Zacks research report on Southern National Bancorp of Virginia (SONA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Southern National Bancorp of Virginia Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern National Bancorp of Virginia Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply