BidaskClub Downgrades Southern National Banc. of Virginia (SONA) to Sell

Southern National Banc. of Virginia (NASDAQ:SONA) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Friday.

Other equities analysts have also recently issued reports about the company. Sandler O’Neill initiated coverage on Southern National Banc. of Virginia in a report on Monday, January 14th. They issued a “hold” rating for the company. ValuEngine raised Southern National Banc. of Virginia from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Finally, Zacks Investment Research raised Southern National Banc. of Virginia from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Wednesday, January 30th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $16.00.

Shares of SONA stock opened at $15.00 on Friday. The firm has a market cap of $366.14 million, a P/E ratio of 10.79 and a beta of 0.79. Southern National Banc. of Virginia has a 1 year low of $12.87 and a 1 year high of $18.24. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.16.

Southern National Banc. of Virginia (NASDAQ:SONA) last issued its quarterly earnings data on Thursday, January 24th. The bank reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. The firm had revenue of $24.73 million during the quarter, compared to analysts’ expectations of $24.30 million. Southern National Banc. of Virginia had a return on equity of 9.97% and a net margin of 26.10%. As a group, research analysts predict that Southern National Banc. of Virginia will post 1.37 earnings per share for the current year.

In other Southern National Banc. of Virginia news, insider Georgia S. Derrico bought 4,862 shares of the company’s stock in a transaction that occurred on Wednesday, January 30th. The stock was purchased at an average cost of $14.88 per share, for a total transaction of $72,346.56. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Marie Taylor Leibson bought 6,500 shares of the company’s stock in a transaction that occurred on Friday, January 4th. The stock was acquired at an average price of $6.87 per share, with a total value of $44,655.00. Following the completion of the purchase, the insider now directly owns 2,000 shares of the company’s stock, valued at approximately $13,740. The disclosure for this purchase can be found here. Over the last three months, insiders bought 22,324 shares of company stock valued at $248,175. Insiders own 6.00% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in Southern National Banc. of Virginia by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 209,283 shares of the bank’s stock valued at $2,766,000 after purchasing an additional 10,866 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Southern National Banc. of Virginia by 15.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 655,843 shares of the bank’s stock valued at $8,670,000 after purchasing an additional 88,294 shares during the last quarter. Walthausen & Co. LLC increased its stake in Southern National Banc. of Virginia by 5.8% in the fourth quarter. Walthausen & Co. LLC now owns 72,980 shares of the bank’s stock valued at $965,000 after purchasing an additional 3,990 shares during the last quarter. Penn Capital Management Co. Inc. increased its stake in Southern National Banc. of Virginia by 5.6% in the fourth quarter. Penn Capital Management Co. Inc. now owns 197,185 shares of the bank’s stock valued at $2,607,000 after purchasing an additional 10,519 shares during the last quarter. Finally, Millennium Management LLC increased its stake in Southern National Banc. of Virginia by 78.4% in the fourth quarter. Millennium Management LLC now owns 23,619 shares of the bank’s stock valued at $312,000 after purchasing an additional 10,382 shares during the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

About Southern National Banc. of Virginia

Southern National Bancorp of Virginia, Inc operates as the bank holding company for Sonabank that provides commercial banking services to middle market corporate clients and retail clients in the United States. Its deposit products include noninterest-bearing and interest-bearing checking, commercial checking, money market, and savings accounts, as well as certificates of deposit.

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