Southern National Banc. of Virginia, Inc (NASDAQ:SONA) Sees Large Decline in Short Interest

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Southern National Banc. of Virginia, Inc (NASDAQ:SONA) saw a significant decrease in short interest during the month of November. As of November 29th, there was short interest totalling 65,900 shares, a decrease of 21.7% from the November 14th total of 84,200 shares. Based on an average daily volume of 57,200 shares, the short-interest ratio is currently 1.2 days. Approximately 0.3% of the company’s stock are sold short.

Shares of SONA stock traded up $0.12 during trading hours on Thursday, hitting $16.35. The stock had a trading volume of 5,935 shares, compared to its average volume of 67,281. The firm has a market capitalization of $391.26 million, a PE ratio of 11.76 and a beta of 0.92. Southern National Banc. of Virginia has a twelve month low of $12.87 and a twelve month high of $16.27. The stock’s 50 day moving average is $15.84 and its 200 day moving average is $15.19. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.97 and a quick ratio of 0.97.

Southern National Banc. of Virginia (NASDAQ:SONA) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.02. The business had revenue of $23.99 million during the quarter, compared to the consensus estimate of $24.80 million. Southern National Banc. of Virginia had a return on equity of 9.71% and a net margin of 23.91%. As a group, equities analysts predict that Southern National Banc. of Virginia will post 1.39 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 11th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.20%. The ex-dividend date was Thursday, November 7th. Southern National Banc. of Virginia’s payout ratio is currently 25.90%.

In related news, Chairman Georgia S. Derrico purchased 10,000 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were bought at an average cost of $7.04 per share, for a total transaction of $70,400.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired 15,585 shares of company stock worth $154,077 over the last quarter. 5.50% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of SONA. Marshall Wace LLP grew its holdings in Southern National Banc. of Virginia by 268.2% in the 1st quarter. Marshall Wace LLP now owns 18,088 shares of the bank’s stock valued at $265,000 after buying an additional 13,176 shares during the period. Strs Ohio boosted its position in Southern National Banc. of Virginia by 1.8% during the second quarter. Strs Ohio now owns 40,700 shares of the bank’s stock valued at $623,000 after acquiring an additional 700 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in Southern National Banc. of Virginia during the second quarter valued at $28,000. Municipal Employees Retirement System of Michigan bought a new stake in Southern National Banc. of Virginia during the second quarter valued at $563,000. Finally, Wedge Capital Management L L P NC bought a new stake in Southern National Banc. of Virginia during the second quarter valued at $1,031,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently weighed in on SONA shares. BidaskClub raised Southern National Banc. of Virginia from a “hold” rating to a “buy” rating in a report on Wednesday. ValuEngine downgraded Southern National Banc. of Virginia from a “hold” rating to a “sell” rating in a report on Monday.

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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