Southern National Banc. of Virginia (SONA) Rating Increased to Buy at BidaskClub

Southern National Banc. of Virginia (NASDAQ:SONA) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Thursday.

Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Southern National Banc. of Virginia from a “buy” rating to a “hold” rating in a research report on Thursday, April 5th. TheStreet raised shares of Southern National Banc. of Virginia from a “c” rating to a “b-” rating in a research report on Friday, April 27th.

Shares of NASDAQ SONA opened at $17.62 on Thursday. Southern National Banc. of Virginia has a fifty-two week low of $15.11 and a fifty-two week high of $18.24. The stock has a market capitalization of $425.47 million, a P/E ratio of 20.02 and a beta of 0.30. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.17.

Southern National Banc. of Virginia (NASDAQ:SONA) last announced its quarterly earnings results on Thursday, April 26th. The bank reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.07. Southern National Banc. of Virginia had a net margin of 8.02% and a return on equity of 6.87%. The business had revenue of $25.58 million for the quarter, compared to analysts’ expectations of $24.00 million. sell-side analysts expect that Southern National Banc. of Virginia will post 1.25 earnings per share for the current year.

In other news, insider Georgia S. Derrico bought 3,100 shares of the company’s stock in a transaction on Tuesday, May 1st. The shares were purchased at an average price of $16.08 per share, with a total value of $49,848.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. In the last three months, insiders have acquired 10,472 shares of company stock worth $174,500. Insiders own 6.00% of the company’s stock.

Several institutional investors have recently bought and sold shares of SONA. Schwab Charles Investment Management Inc. lifted its position in shares of Southern National Banc. of Virginia by 19.2% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 41,830 shares of the bank’s stock worth $671,000 after buying an additional 6,730 shares in the last quarter. First Trust Advisors LP bought a new position in shares of Southern National Banc. of Virginia during the 4th quarter worth approximately $462,000. BlackRock Inc. lifted its position in shares of Southern National Banc. of Virginia by 4.5% during the 4th quarter. BlackRock Inc. now owns 1,079,798 shares of the bank’s stock worth $17,309,000 after buying an additional 46,918 shares in the last quarter. Royce & Associates LP lifted its position in shares of 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 buying an additional 67,000 shares in the last quarter. Finally, Banc Funds Co. LLC lifted its position in shares of 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 buying an additional 57,782 shares in the last quarter. 71.13% of the stock is currently owned by hedge funds and other institutional investors.

About Southern National Banc. of Virginia

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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