Southern National Bancorp of Virginia (SONA) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Southern National Bancorp of Virginia (NASDAQ:SONA) from a hold rating to a sell rating in a report published on Thursday morning.

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. “

A number of other brokerages have also recently weighed in on SONA. ValuEngine raised Southern National Bancorp of Virginia from a hold rating to a buy rating in a report on Friday, September 1st. BidaskClub cut Southern National Bancorp of Virginia from a sell rating to a strong sell rating in a report on Monday, August 14th.

Shares of Southern National Bancorp of Virginia (NASDAQ SONA) traded down $0.03 on Thursday, hitting $17.04. The stock had a trading volume of 57,475 shares, compared to its average volume of 53,261. The company has a market cap of $407.53, a P/E ratio of 20.53 and a beta of 0.36. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.17. Southern National Bancorp of Virginia has a 12-month low of $14.85 and a 12-month high of $18.48.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 24th. Investors of record on Monday, November 13th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, November 10th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.88%. Southern National Bancorp of Virginia’s dividend payout ratio is 103.23%.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Banc Funds Co. LLC raised its holdings in shares of Southern National Bancorp of Virginia by 53.5% during the 2nd quarter. Banc Funds Co. LLC now owns 1,480,747 shares of the bank’s stock valued at $26,061,000 after buying an additional 516,330 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Southern National Bancorp of Virginia by 17.0% during the 2nd quarter. Vanguard Group Inc. now owns 538,160 shares of the bank’s stock valued at $9,472,000 after buying an additional 78,370 shares in the last quarter. Salzhauer Michael raised its holdings in shares of Southern National Bancorp of Virginia by 3.0% during the 3rd quarter. Salzhauer Michael now owns 475,759 shares of the bank’s stock valued at $8,083,000 after buying an additional 14,005 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Southern National Bancorp of Virginia by 3,608.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 367,407 shares of the bank’s stock valued at $6,466,000 after buying an additional 357,501 shares in the last quarter. Finally, Royce & Associates LP raised its holdings in shares of Southern National Bancorp of Virginia by 6.8% during the 3rd quarter. Royce & Associates LP now owns 314,904 shares of the bank’s stock valued at $5,350,000 after buying an additional 20,000 shares in the last quarter. 68.55% of the stock is currently owned by institutional investors.

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About Southern National Bancorp 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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