Zacks: Southern National Banc. of Virginia, Inc (SONA) Receives Consensus Recommendation of “Strong Buy” from Brokerages

Shares of Southern National Banc. of Virginia, Inc (NASDAQ:SONA) have been given a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.

Brokerages have set a 12 month consensus target price of $20.50 for the company and are anticipating that the company will post $0.27 earnings per share for the current quarter, according to Zacks. Zacks has also given Southern National Banc. of Virginia an industry rank of 37 out of 265 based on the ratings given to its competitors.

SONA has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Southern National Banc. of Virginia from a “hold” rating to a “sell” rating in a report on Thursday, November 30th. BidaskClub lowered Southern National Banc. of Virginia from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 30th.

In other news, SVP William H. Lagos bought 3,500 shares of the firm’s stock in a transaction on Tuesday, January 16th. The shares were bought at an average cost of $9.20 per share, for a total transaction of $32,200.00. Following the completion of the transaction, the senior vice president now owns 36,657 shares in the company, valued at $337,244.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Georgia S. Derrico bought 10,000 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were purchased at an average price of $9.20 per share, for a total transaction of $92,000.00. The disclosure for this purchase can be found here. Insiders have purchased 17,000 shares of company stock worth $156,400 in the last ninety days. 10.20% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of SONA. Bank of New York Mellon Corp boosted its position in Southern National Banc. of Virginia by 42.1% during the second quarter. Bank of New York Mellon Corp now owns 99,728 shares of the bank’s stock worth $1,755,000 after purchasing an additional 29,566 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Southern National Banc. of Virginia by 288.5% in the second quarter. Wells Fargo & Company MN now owns 25,177 shares of the bank’s stock valued at $443,000 after acquiring an additional 18,697 shares in the last quarter. Teachers Advisors LLC lifted its position in shares of Southern National Banc. of Virginia by 9.8% in the second quarter. Teachers Advisors LLC now owns 21,411 shares of the bank’s stock valued at $377,000 after acquiring an additional 1,909 shares in the last quarter. Nationwide Fund Advisors lifted its position in shares of Southern National Banc. of Virginia by 11.6% in the second quarter. Nationwide Fund Advisors now owns 15,345 shares of the bank’s stock valued at $270,000 after acquiring an additional 1,600 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Southern National Banc. of Virginia by 15.9% in the second quarter. PNC Financial Services Group Inc. now owns 27,746 shares of the bank’s stock valued at $488,000 after acquiring an additional 3,800 shares in the last quarter. Institutional investors own 68.60% of the company’s stock.

Southern National Banc. of Virginia (NASDAQ:SONA) traded down $0.01 during trading hours on Tuesday, hitting $15.88. The stock had a trading volume of 153,600 shares, compared to its average volume of 69,137. Southern National Banc. of Virginia has a 1-year low of $15.11 and a 1-year high of $18.48. The firm has a market capitalization of $380.03, a price-to-earnings ratio of 198.50 and a beta of 0.26. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.94 and a current ratio of 0.94.

Southern National Banc. of Virginia (NASDAQ:SONA) last announced its quarterly earnings data on Friday, January 26th. The bank reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.02. Southern National Banc. of Virginia had a return on equity of 6.34% and a net margin of 2.72%. The firm had revenue of $25.30 million for the quarter, compared to analyst estimates of $24.50 million. analysts expect that Southern National Banc. of Virginia will post 1.14 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Monday, February 12th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Friday, February 9th. Southern National Banc. of Virginia’s dividend payout ratio is presently 400.00%.

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Southern National Banc. of Virginia Company 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.

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