Southern National Banc. of Virginia (NASDAQ:SONA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, March 15th.
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 cut shares of Southern National Banc. of Virginia from a “sell” rating to a “strong sell” rating in a research note on Tuesday, January 30th.
Shares of NASDAQ:SONA traded down $0.25 during midday trading on Thursday, reaching $15.76. The company’s stock had a trading volume of 34,489 shares, compared to its average volume of 48,651. 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 market capitalization of $378.00, a PE ratio of 17.91 and a beta of 0.29. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.94 and a quick 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 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.02. Southern National Banc. of Virginia had a net margin of 2.72% and a return on equity of 5.97%. The company had revenue of $25.30 million for the quarter, compared to the consensus estimate of $24.50 million. equities analysts anticipate that Southern National Banc. of Virginia will post 1.15 EPS for the current fiscal year.
In other Southern National Banc. of Virginia news, SVP William H. Lagos acquired 3,500 shares of the stock in a transaction dated Tuesday, January 16th. The shares were purchased at an average price of $9.20 per share, for a total transaction of $32,200.00. Following the purchase, the senior vice president now directly owns 36,657 shares of the company’s stock, valued at $337,244.40. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Georgia S. Derrico acquired 32,000 shares of the stock in a transaction dated Monday, February 26th. The stock was acquired at an average price of $6.29 per share, for a total transaction of $201,280.00. The disclosure for this purchase can be found here. Insiders bought a total of 42,218 shares of company stock worth $316,436 in the last quarter. Company insiders own 9.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SONA. Northern Trust Corp raised its stake in Southern National Banc. of Virginia by 71.1% during the 2nd quarter. Northern Trust Corp now owns 198,851 shares of the bank’s stock worth $3,500,000 after acquiring an additional 82,641 shares during the period. Vanguard Group Inc. raised its stake in Southern National Banc. of Virginia by 17.0% during the 2nd quarter. Vanguard Group Inc. now owns 538,160 shares of the bank’s stock worth $9,472,000 after acquiring an additional 78,370 shares during the period. Royce & Associates LP raised its stake in Southern National Banc. of Virginia by 21.3% during the 4th quarter. Royce & Associates LP now owns 381,904 shares of the bank’s stock worth $6,122,000 after acquiring an additional 67,000 shares during the period. Renaissance Technologies LLC raised its stake in Southern National Banc. of Virginia by 19.0% during the 4th quarter. Renaissance Technologies LLC now owns 417,142 shares of the bank’s stock worth $6,687,000 after acquiring an additional 66,500 shares during the period. Finally, Banc Funds Co. LLC raised its stake in Southern National Banc. of Virginia by 3.5% during the 4th quarter. Banc Funds Co. LLC now owns 1,713,529 shares of the bank’s stock worth $27,468,000 after acquiring an additional 57,782 shares during the period. Institutional investors own 68.06% of the company’s stock.
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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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