Southern National Banc. of Virginia, Inc (NASDAQ:SONA) Short Interest Up 26.4% in September

Southern National Banc. of Virginia, Inc (NASDAQ:SONA) was the target of a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 275,000 shares, a growth of 26.4% from the September 15th total of 217,600 shares. Based on an average daily volume of 82,600 shares, the days-to-cover ratio is presently 3.3 days. Approximately 1.4% of the shares of the stock are sold short.

Several research firms recently weighed in on SONA. Stephens began coverage on shares of Southern National Banc. of Virginia in a research report on Monday, June 29th. They set an “equal weight” rating for the company. Piper Sandler cut their price objective on shares of Southern National Banc. of Virginia from $10.00 to $9.50 and set a “neutral” rating for the company in a research report on Wednesday, September 30th. ValuEngine cut shares of Southern National Banc. of Virginia from a “sell” rating to a “strong sell” rating in a research report on Monday, August 3rd. Finally, Zacks Investment Research downgraded Southern National Banc. of Virginia from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Three analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Southern National Banc. of Virginia presently has an average rating of “Sell” and an average price target of $10.25.

Shares of NASDAQ SONA opened at $9.79 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.43. The company has a market cap of $238.45 million, a price-to-earnings ratio of 10.64 and a beta of 0.96. Southern National Banc. of Virginia has a 12 month low of $7.58 and a 12 month high of $16.85. The stock has a 50-day moving average price of $9.00 and a two-hundred day moving average price of $9.24.

Southern National Banc. of Virginia (NASDAQ:SONA) last issued its earnings results on Monday, July 27th. The bank reported $0.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.22. The firm had revenue of $30.87 million during the quarter, compared to the consensus estimate of $25.20 million. Southern National Banc. of Virginia had a return on equity of 7.12% and a net margin of 16.77%. On average, sell-side analysts predict that Southern National Banc. of Virginia will post 1.11 earnings per share for the current year.

In other news, CEO Dennis J. Zember, Jr. acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The stock was acquired at an average price of $8.79 per share, with a total value of $87,900.00. Following the completion of the transaction, the chief executive officer now directly owns 50,000 shares of the company’s stock, valued at approximately $439,500. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.90% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA increased its stake in shares of Southern National Banc. of Virginia by 28.2% in the first quarter. BNP Paribas Arbitrage SA now owns 6,130 shares of the bank’s stock valued at $60,000 after buying an additional 1,348 shares during the period. Nuveen Asset Management LLC increased its stake in shares of Southern National Banc. of Virginia by 35.0% in the first quarter. Nuveen Asset Management LLC now owns 151,150 shares of the bank’s stock valued at $1,488,000 after buying an additional 39,150 shares during the period. Prudential Financial Inc. increased its stake in shares of Southern National Banc. of Virginia by 115.1% in the second quarter. Prudential Financial Inc. now owns 125,197 shares of the bank’s stock valued at $1,214,000 after buying an additional 66,982 shares during the period. Bank of Montreal Can increased its stake in shares of Southern National Banc. of Virginia by 88.1% in the second quarter. Bank of Montreal Can now owns 3,909 shares of the bank’s stock valued at $32,000 after buying an additional 1,831 shares during the period. Finally, Engineers Gate Manager LP acquired a new position in shares of Southern National Banc. of Virginia in the first quarter valued at approximately $124,000. 72.30% of the stock is 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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