Southern National Banc. of Virginia, Inc (NASDAQ:SONA) Declares Quarterly Dividend of $0.10

Southern National Banc. of Virginia, Inc (NASDAQ:SONA) declared a quarterly dividend on Monday, July 27th, Zacks reports. Stockholders of record on Monday, August 10th will be paid a dividend of 0.10 per share by the bank on Friday, August 21st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date is Friday, August 7th.

Southern National Banc. of Virginia has raised its dividend by an average of 12.5% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Southern National Banc. of Virginia has a dividend payout ratio of 28.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Southern National Banc. of Virginia to earn $1.46 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 27.4%.

NASDAQ SONA traded down $0.18 on Wednesday, reaching $8.08. The stock had a trading volume of 78,925 shares, compared to its average volume of 84,897. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market cap of $196.22 million, a P/E ratio of 8.76 and a beta of 1.02. The firm has a fifty day moving average of $9.25 and a two-hundred day moving average of $11.33. Southern National Banc. of Virginia has a 1-year low of $7.58 and a 1-year high of $16.85.

Southern National Banc. of Virginia (NASDAQ:SONA) last announced its earnings results on Monday, July 27th. The bank reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.22. Southern National Banc. of Virginia had a net margin of 16.77% and a return on equity of 7.15%. The company had revenue of $30.87 million during the quarter, compared to analysts’ expectations of $25.20 million. Research analysts predict that Southern National Banc. of Virginia will post 1.41 EPS for the current fiscal year.

A number of research analysts have issued reports on SONA shares. ValuEngine lowered shares of Southern National Banc. of Virginia from a “hold” rating to a “sell” rating in a research report on Thursday, April 2nd. Zacks Investment Research lowered Southern National Banc. of Virginia from a “buy” rating to a “hold” rating in a research note on Thursday, May 21st. BidaskClub raised Southern National Banc. of Virginia from a “strong sell” rating to a “sell” rating in a report on Friday, May 29th. Finally, Stephens started coverage on Southern National Banc. of Virginia in a report on Monday, June 29th. They set an “equal weight” rating on the stock. Two research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $11.00.

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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Dividend History for Southern National Banc. of Virginia (NASDAQ:SONA)

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