ValuEngine Lowers Southern National Bancorp of Virginia, Inc. (SONA) to Hold

ValuEngine lowered shares of Southern National Bancorp of Virginia, Inc. (NASDAQ:SONA) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

A number of other research analysts also recently weighed in on SONA. BidaskClub downgraded Southern National Bancorp of Virginia from a sell rating to a strong sell rating in a report on Monday, August 14th. Zacks Investment Research downgraded Southern National Bancorp of Virginia from a buy rating to a hold rating in a research note on Tuesday, October 3rd.

Southern National Bancorp of Virginia (NASDAQ SONA) remained flat at $16.88 during trading on Tuesday. The stock had a trading volume of 5,695 shares. The company has a market cap of $403.60 million, a price-to-earnings ratio of 50.69 and a beta of 0.36. The company has a 50 day moving average price of $16.63 and a 200 day moving average price of $17.03. Southern National Bancorp of Virginia has a 12-month low of $12.74 and a 12-month high of $18.48.

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In other news, Chairman Georgia S. Derrico bought 4,000 shares of the stock in a transaction on Monday, August 21st. The shares were purchased at an average price of $15.75 per share, for a total transaction of $63,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 9.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of SONA. Castle Creek Capital Partners IV LP purchased a new position in Southern National Bancorp of Virginia in the second quarter valued at about $11,791,000. First Manhattan Co. grew its stake in Southern National Bancorp of Virginia by 4.2% in the second quarter. First Manhattan Co. now owns 261,281 shares of the bank’s stock valued at $4,598,000 after purchasing an additional 10,609 shares in the last quarter. PL Capital Advisors LLC purchased a new position in Southern National Bancorp of Virginia in the second quarter valued at about $2,084,000. First Trust Advisors LP purchased a new position in Southern National Bancorp of Virginia in the second quarter valued at about $252,000. Finally, Rhumbline Advisers purchased a new position in Southern National Bancorp of Virginia in the second quarter valued at about $216,000. Hedge funds and other institutional investors own 52.31% of the company’s stock.

Southern National Bancorp of Virginia Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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