Southern National Banc. of Virginia (NASDAQ:SONA) Rating Lowered to Sell at BidaskClub

Southern National Banc. of Virginia (NASDAQ:SONA) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, BidAskClub reports.

Separately, ValuEngine lowered Southern National Banc. of Virginia from a “hold” rating to a “sell” rating in a research note on Monday, December 9th.

SONA stock traded up $0.03 on Wednesday, reaching $16.03. The company had a trading volume of 37,495 shares, compared to its average volume of 38,665. Southern National Banc. of Virginia has a 1 year low of $13.69 and a 1 year high of $16.85. 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’s fifty day moving average is $16.21 and its 200 day moving average is $15.50. The company has a market cap of $391.50 million, a P/E ratio of 11.53 and a beta of 0.92.

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

In related news, Chairman Georgia S. Derrico bought 10,000 shares of Southern National Banc. of Virginia stock in a transaction that occurred on 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders purchased 15,535 shares of company stock worth $158,057. 5.50% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. First Trust Advisors LP lifted its stake in shares of Southern National Banc. of Virginia by 5.8% during the 3rd quarter. First Trust Advisors LP now owns 55,666 shares of the bank’s stock worth $857,000 after purchasing an additional 3,029 shares during the period. Comerica Bank purchased a new position in shares of Southern National Banc. of Virginia during the 3rd quarter worth $729,000. Millennium Management LLC lifted its stake in shares of Southern National Banc. of Virginia by 26.9% during the 3rd quarter. Millennium Management LLC now owns 19,042 shares of the bank’s stock worth $293,000 after purchasing an additional 4,032 shares during the period. State Street Corp lifted its stake in shares of Southern National Banc. of Virginia by 2.2% during the 3rd quarter. State Street Corp now owns 423,539 shares of the bank’s stock worth $6,518,000 after purchasing an additional 9,146 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of Southern National Banc. of Virginia by 122.0% during the 3rd quarter. SG Americas Securities LLC now owns 15,648 shares of the bank’s stock worth $241,000 after purchasing an additional 8,598 shares during the period. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

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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