Southern National Banc. of Virginia, Inc (NASDAQ:SONA) Short Interest Down 15.5% in October

Southern National Banc. of Virginia, Inc (NASDAQ:SONA) was the recipient of a large decline in short interest in October. As of October 31st, there was short interest totalling 151,200 shares, a decline of 15.5% from the September 30th total of 179,000 shares. Approximately 0.8% of the company’s shares are short sold. Based on an average daily volume of 46,200 shares, the short-interest ratio is presently 3.3 days.

SONA has been the topic of a number of research reports. ValuEngine lowered shares of Southern National Banc. of Virginia from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. BidaskClub raised shares of Southern National Banc. of Virginia from a “sell” rating to a “hold” rating in a research note on Wednesday, September 11th.

In related news, Chairman Georgia S. Derrico bought 10,000 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were purchased at an average price of $7.04 per share, with a total value of $70,400.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders have bought a total of 13,851 shares of company stock worth $126,663 in the last ninety days. Insiders own 5.50% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Montreal Can purchased a new position in Southern National Banc. of Virginia during the 2nd quarter valued at about $26,000. Steward Partners Investment Advisory LLC purchased a new position in Southern National Banc. of Virginia during the 2nd quarter valued at about $28,000. Public Employees Retirement System of Ohio purchased a new position in Southern National Banc. of Virginia during the 2nd quarter valued at about $35,000. FNY Investment Advisers LLC purchased a new position in Southern National Banc. of Virginia during the 2nd quarter valued at about $76,000. Finally, Russell Investments Group Ltd. lifted its position in Southern National Banc. of Virginia by 361.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 8,081 shares of the bank’s stock valued at $124,000 after acquiring an additional 6,328 shares during the period. 71.90% of the stock is owned by institutional investors.

Shares of SONA traded up $0.07 during trading hours on Friday, reaching $15.86. 34,500 shares of the company traded hands, compared to its average volume of 49,892. The company’s fifty day moving average price is $15.47 and its two-hundred day moving average price is $15.06. The company has a market capitalization of $383.76 million, a price-to-earnings ratio of 11.40 and a beta of 0.94. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.18. Southern National Banc. of Virginia has a 12 month low of $12.87 and a 12 month high of $16.27.

Southern National Banc. of Virginia (NASDAQ:SONA) last announced its earnings results on Thursday, October 24th. The bank reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. The firm had revenue of $23.99 million for the quarter, compared to analyst estimates of $24.80 million. Southern National Banc. of Virginia had a net margin of 23.91% and a return on equity of 9.71%. On average, analysts expect that Southern National Banc. of Virginia will post 1.39 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 11th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.36 dividend on an annualized basis and a yield of 2.27%. Southern National Banc. of Virginia’s dividend payout ratio (DPR) is currently 25.90%.

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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