Russell Investments Group Ltd. Lowers Stake in Southern National Bancorp of Virginia, Inc. (SONA)

Russell Investments Group Ltd. cut its holdings in Southern National Bancorp of Virginia, Inc. (NASDAQ:SONA) by 18.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 39,395 shares of the bank’s stock after selling 8,706 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.32% of Southern National Bancorp of Virginia worth $693,000 at the end of the most recent reporting period.

A number of analysts recently commented on SONA shares. Zacks Investment Research upgraded Southern National Bancorp of Virginia from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Wednesday, August 2nd. BidaskClub lowered Southern National Bancorp of Virginia from a “sell” rating to a “strong sell” rating in a research report on Monday, August 14th. Finally, ValuEngine upgraded Southern National Bancorp of Virginia from a “hold” rating to a “buy” rating in a research report on Friday, September 1st.

Shares of Southern National Bancorp of Virginia, Inc. (NASDAQ:SONA) traded down 0.62% during mid-day trading on Friday, reaching $16.00. The company had a trading volume of 470,931 shares. The firm’s 50-day moving average price is $16.41 and its 200 day moving average price is $17.01. The company has a market cap of $382.56 million, a price-to-earnings ratio of 48.05 and a beta of 0.36. Southern National Bancorp of Virginia, Inc. has a 52-week low of $12.69 and a 52-week high of $18.48.

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 $0.08 dividend. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $0.32 dividend on an annualized basis and a yield of 2.00%. Southern National Bancorp of Virginia’s payout ratio is presently 91.43%.

In other news, Chairman Georgia S. Derrico bought 4,000 shares of the stock in a transaction on Monday, August 21st. The stock was acquired at an average price of $15.75 per share, with a total value of $63,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 9.60% of the stock is owned by corporate insiders.

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Southern National Bancorp of Virginia Profile

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.

Institutional Ownership by Quarter for Southern National Bancorp of Virginia (NASDAQ:SONA)

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