Zacks: Southern National Banc. of Virginia, Inc (SONA) Given Consensus Rating of “Buy” by Analysts

Shares of Southern National Banc. of Virginia, Inc (NASDAQ:SONA) have been given a consensus broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company.

Analysts have set a twelve-month consensus price objective of $20.50 for the company and are anticipating that the company will post $0.33 EPS for the current quarter, according to Zacks. Zacks has also given Southern National Banc. of Virginia an industry rank of 96 out of 255 based on the ratings given to its competitors.

Several brokerages recently weighed in on SONA. Zacks Investment Research cut Southern National Banc. of Virginia from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 28th. BidaskClub cut Southern National Banc. of Virginia from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. ValuEngine cut Southern National Banc. of Virginia from a “hold” rating to a “sell” rating in a research note on Thursday, March 21st. Finally, Sandler O’Neill started coverage on Southern National Banc. of Virginia in a research note on Monday, January 14th. They issued a “hold” rating on the stock.

In related news, insider Georgia S. Derrico bought 4,862 shares of the business’s stock in a transaction dated Wednesday, January 30th. The shares were purchased at an average cost of $14.88 per share, with a total value of $72,346.56. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders bought 15,824 shares of company stock worth $203,520. Insiders own 6.00% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new position in Southern National Banc. of Virginia in the fourth quarter worth approximately $42,000. Citigroup Inc. boosted its holdings in Southern National Banc. of Virginia by 16.0% during the fourth quarter. Citigroup Inc. now owns 6,074 shares of the bank’s stock worth $80,000 after purchasing an additional 838 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its holdings in Southern National Banc. of Virginia by 417.9% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 7,385 shares of the bank’s stock worth $98,000 after purchasing an additional 5,959 shares during the last quarter. Prudential Financial Inc. acquired a new position in Southern National Banc. of Virginia during the third quarter worth $177,000. Finally, Silverleafe Capital Partners LLC acquired a new position in Southern National Banc. of Virginia during the fourth quarter worth $161,000. 70.72% of the stock is currently owned by hedge funds and other institutional investors.

SONA stock traded up $0.07 during midday trading on Thursday, hitting $15.11. The stock had a trading volume of 650 shares, compared to its average volume of 43,185. The stock has a market cap of $357.91 million, a price-to-earnings ratio of 10.83 and a beta of 0.78. Southern National Banc. of Virginia has a 52-week low of $12.87 and a 52-week high of $18.24. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.16.

Southern National Banc. of Virginia (NASDAQ:SONA) last issued its quarterly earnings results on Thursday, January 24th. The bank reported $0.32 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.32. The company had revenue of $24.73 million for the quarter, compared to analysts’ expectations of $24.30 million. Southern National Banc. of Virginia had a return on equity of 9.97% and a net margin of 26.10%. Equities research analysts expect that Southern National Banc. of Virginia will post 1.37 earnings per share for the current fiscal year.

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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