Short Interest in Southern National Banc. of Virginia, Inc (NASDAQ:SONA) Rises By 65.1%

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Southern National Banc. of Virginia, Inc (NASDAQ:SONA) was the recipient of a large increase in short interest in March. As of March 13th, there was short interest totalling 148,900 shares, an increase of 65.1% from the February 27th total of 90,200 shares. Approximately 0.8% of the company’s shares are short sold. Based on an average daily trading volume, of 82,200 shares, the days-to-cover ratio is presently 1.8 days.

Several analysts have commented on the stock. Zacks Investment Research upgraded shares of Southern National Banc. of Virginia from a “sell” rating to a “hold” rating in a research report on Wednesday, March 18th. ValuEngine upgraded shares of Southern National Banc. of Virginia from a “sell” rating to a “hold” rating in a research report on Wednesday, January 29th. TheStreet cut shares of Southern National Banc. of Virginia from a “b” rating to a “c+” rating in a research report on Friday, February 28th. Finally, BidaskClub cut shares of Southern National Banc. of Virginia from a “sell” rating to a “strong sell” rating in a research report on Saturday, March 14th.

In other news, Chairman Georgia S. Derrico acquired 40,000 shares of Southern National Banc. of Virginia stock in a transaction on Monday, February 10th. The shares were purchased at an average price of $7.20 per share, with a total value of $288,000.00. Following the acquisition, the chairman now owns 514,086 shares in the company, valued at $3,701,419.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Georgia S. Derrico acquired 5,289 shares of Southern National Banc. of Virginia stock in a transaction on Wednesday, February 26th. The shares were purchased at an average cost of $15.22 per share, for a total transaction of $80,498.58. In the last ninety days, insiders have acquired 72,584 shares of company stock worth $758,213. Company insiders own 5.50% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can increased its holdings in Southern National Banc. of Virginia by 43.4% during the 4th quarter. Bank of Montreal Can now owns 2,480 shares of the bank’s stock worth $41,000 after purchasing an additional 751 shares in the last quarter. New York State Teachers Retirement System lifted its stake in Southern National Banc. of Virginia by 76.5% in the 4th quarter. New York State Teachers Retirement System now owns 3,001 shares of the bank’s stock valued at $49,000 after purchasing an additional 1,301 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Southern National Banc. of Virginia by 361.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 8,081 shares of the bank’s stock valued at $124,000 after purchasing an additional 6,328 shares during the last quarter. Trexquant Investment LP acquired a new stake in Southern National Banc. of Virginia in the 4th quarter valued at about $179,000. Finally, Stifel Financial Corp lifted its stake in Southern National Banc. of Virginia by 15.0% in the 4th quarter. Stifel Financial Corp now owns 14,575 shares of the bank’s stock valued at $238,000 after purchasing an additional 1,898 shares during the last quarter. Hedge funds and other institutional investors own 72.38% of the company’s stock.

SONA stock opened at $10.18 on Friday. The stock has a 50-day moving average price of $13.46 and a two-hundred day moving average price of $15.18. The stock has a market cap of $225.95 million, a PE ratio of 7.49 and a beta of 0.91. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. Southern National Banc. of Virginia has a 1 year low of $7.88 and a 1 year high of $16.85.

Southern National Banc. of Virginia (NASDAQ:SONA) last released its earnings results on Thursday, January 30th. The bank reported $0.37 earnings per share (EPS) for the quarter. The firm had revenue of $24.03 million during the quarter. Southern National Banc. of Virginia had a return on equity of 9.87% and a net margin of 24.92%. On average, analysts forecast that Southern National Banc. of Virginia will post 1.41 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 17th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend was Thursday, February 13th. This is a boost from Southern National Banc. of Virginia’s previous quarterly dividend of $0.09. Southern National Banc. of Virginia’s dividend payout ratio is 27.03%.

About Southern National Banc. of Virginia

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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