Zacks Investment Research Lowers Southern National Bancorp of Virginia, Inc. (SONA) to Hold

Southern National Bancorp of Virginia, Inc. (NASDAQ:SONA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, September 7th.

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 analysts also recently issued reports on SONA. BidaskClub downgraded shares of Southern National Bancorp of Virginia from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. ValuEngine raised shares of Southern National Bancorp of Virginia from a “hold” rating to a “buy” rating in a report on Friday, September 1st.

Shares of Southern National Bancorp of Virginia (NASDAQ:SONA) opened at 16.00 on Thursday. The firm has a 50 day moving average price of $16.41 and a 200-day moving average price of $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 has a 12-month low of $12.69 and a 12-month high of $18.48.

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In related news, Chairman Georgia S. Derrico purchased 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was purchased at an average price of $15.75 per share, with a total value of $63,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 9.60% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. ClariVest Asset Management LLC acquired a new stake in shares of Southern National Bancorp of Virginia in the second quarter worth $107,000. Castle Creek Capital Partners IV LP acquired a new stake in shares of Southern National Bancorp of Virginia in the second quarter worth $11,791,000. First Manhattan Co. increased its position in shares of Southern National Bancorp of Virginia by 4.2% in the second quarter. First Manhattan Co. now owns 261,281 shares of the bank’s stock worth $4,598,000 after acquiring an additional 10,609 shares in the last quarter. FSI Group LLC acquired a new stake in shares of Southern National Bancorp of Virginia in the second quarter worth $1,929,000. Finally, PL Capital Advisors LLC acquired a new stake in shares of Southern National Bancorp of Virginia in the second quarter worth $2,084,000. 52.31% of the stock is 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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