Southern National Banc. of Virginia, Inc (NASDAQ:SONA) Receives Consensus Recommendation of “Buy” from Brokerages

Southern National Banc. of Virginia, Inc (NASDAQ:SONA) has been given an average broker rating score of 2.00 (Buy) from the two brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and one has given a strong buy recommendation to the company.

Brokerages have set a twelve-month consensus price objective of $20.50 for the company and are forecasting that the company will post $0.33 EPS for the current quarter, according to Zacks. Zacks has also assigned Southern National Banc. of Virginia an industry rank of 137 out of 255 based on the ratings given to related companies.

Several brokerages have issued reports on SONA. ValuEngine raised Southern National Banc. of Virginia from a “sell” rating to a “hold” rating in a research report on Tuesday, December 3rd. BidaskClub raised Southern National Banc. of Virginia from a “sell” rating to a “hold” rating in a research report on Wednesday.

In other news, Chairman Georgia S. Derrico purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was acquired at an average cost of $7.04 per share, with a total value of $70,400.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have acquired 15,585 shares of company stock valued at $154,077. Insiders own 5.50% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Marshall Wace LLP grew its stake in Southern National Banc. of Virginia by 268.2% during the 1st quarter. Marshall Wace LLP now owns 18,088 shares of the bank’s stock worth $265,000 after buying an additional 13,176 shares during the last quarter. Strs Ohio boosted its holdings in Southern National Banc. of Virginia by 1.8% in the second quarter. Strs Ohio now owns 40,700 shares of the bank’s stock worth $623,000 after acquiring an additional 700 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in Southern National Banc. of Virginia in the second quarter worth about $28,000. PL Capital Advisors LLC grew its stake in shares of Southern National Banc. of Virginia by 4.3% during the second quarter. PL Capital Advisors LLC now owns 436,176 shares of the bank’s stock worth $6,678,000 after acquiring an additional 17,791 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in shares of Southern National Banc. of Virginia during the second quarter worth about $563,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SONA opened at $16.18 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.97 and a current ratio of 0.97. The company has a 50 day moving average price of $15.76 and a 200-day moving average price of $15.15. Southern National Banc. of Virginia has a fifty-two week low of $12.87 and a fifty-two week high of $16.27. The stock has a market capitalization of $387.63 million, a PE ratio of 11.21 and a beta of 0.92.

Southern National Banc. of Virginia (NASDAQ:SONA) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.02. The company 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%. Equities research analysts forecast that Southern National Banc. of Virginia will post 1.39 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 11th were issued a $0.09 dividend. The ex-dividend date was Thursday, November 7th. This represents a $0.36 dividend on an annualized basis and a yield of 2.22%. Southern National Banc. of Virginia’s dividend payout ratio is presently 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.

Further Reading: What is net income?

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