Southern National Banc. of Virginia (NASDAQ:SONA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Saturday. The brokerage currently has a $18.00 price target on the bank’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 14.21% from the company’s previous close.
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. “
Separately, BidaskClub downgraded Southern National Banc. of Virginia from a “hold” rating to a “sell” rating in a research report on Thursday, December 14th.
SONA opened at $15.76 on Friday. Southern National Banc. of Virginia has a 12-month low of $15.11 and a 12-month high of $18.48. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market cap of $384.00, a PE ratio of 17.91 and a beta of 0.29.
Southern National Banc. of Virginia (NASDAQ:SONA) last posted its quarterly earnings results on Friday, January 26th. The bank reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. Southern National Banc. of Virginia had a return on equity of 5.97% and a net margin of 2.72%. The business had revenue of $25.30 million for the quarter, compared to the consensus estimate of $24.50 million. equities analysts expect that Southern National Banc. of Virginia will post 1.15 EPS for the current year.
In related news, Chairman Georgia S. Derrico acquired 32,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were bought at an average price of $6.29 per share, with a total value of $201,280.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP William H. Lagos acquired 3,500 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 36,657 shares of the company’s stock, valued at $337,244.40. The disclosure for this purchase can be found here. Insiders have bought a total of 42,218 shares of company stock worth $316,436 in the last three months. Corporate insiders own 9.60% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. MetLife Investment Advisors LLC bought a new stake in Southern National Banc. of Virginia during the fourth quarter valued at about $173,000. American International Group Inc. boosted its position in Southern National Banc. of Virginia by 78.3% during the third quarter. American International Group Inc. now owns 12,390 shares of the bank’s stock valued at $211,000 after purchasing an additional 5,441 shares in the last quarter. Rhumbline Advisers boosted its position in Southern National Banc. of Virginia by 52.4% during the third quarter. Rhumbline Advisers now owns 18,694 shares of the bank’s stock valued at $318,000 after purchasing an additional 6,425 shares in the last quarter. Nationwide Fund Advisors boosted its position in Southern National Banc. of Virginia by 23.3% during the third quarter. Nationwide Fund Advisors now owns 18,925 shares of the bank’s stock valued at $322,000 after purchasing an additional 3,580 shares in the last quarter. Finally, First Trust Advisors LP bought a new stake in Southern National Banc. of Virginia during the fourth quarter valued at about $462,000. 68.06% of the stock is currently owned by institutional investors.
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About Southern National Banc. 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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