Southern National Banc. of Virginia (SONA) Downgraded by BidaskClub to “Hold”

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BidaskClub downgraded shares of Southern National Banc. of Virginia (NASDAQ:SONA) from a buy rating to a hold rating in a research report released on Thursday morning.

Other analysts have also recently issued reports about the company. 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. ValuEngine raised Southern National Banc. of Virginia from a sell rating to a hold rating in a report on Monday, February 4th. Finally, Sandler O’Neill started coverage on Southern National Banc. of Virginia in a report on Monday, January 14th. They set a hold rating for the company. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $16.00.

SONA opened at $15.40 on Thursday. Southern National Banc. of Virginia has a 12-month low of $12.87 and a 12-month high of $18.24. The company has a market capitalization of $370.40 million, a PE ratio of 11.08 and a beta of 0.75. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.03.

Southern National Banc. of Virginia (NASDAQ:SONA) last released its quarterly earnings data on Thursday, January 24th. The bank reported $0.32 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.32. Southern National Banc. of Virginia had a return on equity of 10.07% and a net margin of 26.10%. The company had revenue of $24.73 million during the quarter, compared to analysts’ expectations of $24.30 million. As a group, equities research analysts anticipate that Southern National Banc. of Virginia will post 1.37 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, February 22nd. Investors of record on Monday, February 11th were issued a dividend of $0.09 per share. This is a boost from Southern National Banc. of Virginia’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 2.34%. The ex-dividend date was Friday, February 8th. Southern National Banc. of Virginia’s dividend payout ratio (DPR) is presently 25.90%.

In related news, Chairman Georgia S. Derrico acquired 3,000 shares of the stock in a transaction on Tuesday, January 29th. The shares were purchased at an average price of $14.81 per share, for a total transaction of $44,430.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Marie Taylor Leibson acquired 6,500 shares of the stock in a transaction on Friday, January 4th. The shares were bought at an average price of $6.87 per share, for a total transaction of $44,655.00. Following the purchase, the insider now owns 2,000 shares in the company, valued at $13,740. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 23,824 shares of company stock valued at $268,830. 6.00% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of SONA. PL Capital Advisors LLC increased its stake in Southern National Banc. of Virginia by 253.4% during the 4th quarter. PL Capital Advisors LLC now owns 418,385 shares of the bank’s stock worth $5,531,000 after acquiring an additional 300,000 shares during the period. LSV Asset Management increased its stake in Southern National Banc. of Virginia by 4,566.7% during the 3rd quarter. LSV Asset Management now owns 154,000 shares of the bank’s stock worth $2,494,000 after acquiring an additional 150,700 shares during the period. Dimensional Fund Advisors LP increased its stake in Southern National Banc. of Virginia by 15.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 655,843 shares of the bank’s stock worth $8,670,000 after acquiring an additional 88,294 shares during the period. Martingale Asset Management L P bought a new position in Southern National Banc. of Virginia during the 3rd quarter worth $1,241,000. Finally, Walthausen & Co. LLC bought a new position in Southern National Banc. of Virginia during the 3rd quarter worth $1,118,000. Hedge funds and other institutional investors own 73.25% of the company’s stock.

Southern National Banc. of Virginia Company Profile

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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