Zacks Investment Research cut shares of Southern National Bancorp of Virginia, Inc. (NASDAQ:SONA) from a buy rating to a hold rating in a research report released on Thursday morning.

According to Zacks, “Headquartered in Charlottesville Virginia, Sonabank is a new regional bank founded by an experienced banking team with close to hundred years of banking experience. They offer a full line of products and services for personal and business banking. Sonabank specializes in small to medium sized business banking. They have extensive experience in Small Business Administration loans as well as other types of financing suited for businesses. “

A number of other equities research analysts also recently issued reports on SONA. ValuEngine upgraded shares of Southern National Bancorp of Virginia from a hold rating to a buy rating in a research report on Friday, June 2nd. BidaskClub downgraded shares of Southern National Bancorp of Virginia from a sell rating to a strong sell rating in a research report on Monday, August 14th.

Shares of Southern National Bancorp of Virginia (SONA) opened at 16.00 on Thursday. Southern National Bancorp of Virginia has a 52 week low of $12.69 and a 52 week high of $18.48. The stock’s 50 day moving average is $16.41 and its 200 day moving average is $17.01. The stock has a market capitalization of $382.56 million, a PE ratio of 48.05 and a beta of 0.36.

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The business also recently announced a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Monday, August 14th were given a $0.08 dividend. The ex-dividend date was Thursday, August 10th. This represents a $0.32 dividend on an annualized basis and a yield of 2.00%. Southern National Bancorp of Virginia’s payout ratio is 91.43%.

In other Southern National Bancorp of Virginia news, Chairman Georgia S. Derrico purchased 4,000 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were bought at an average price of $15.75 per share, for a total transaction of $63,000.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 9.60% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in SONA. Castle Creek Capital Partners IV LP acquired a new position in shares of Southern National Bancorp of Virginia during the 2nd quarter worth $11,791,000. First Manhattan Co. increased its stake in shares of Southern National Bancorp of Virginia by 4.2% during the 2nd quarter. First Manhattan Co. now owns 261,281 shares of the bank’s stock worth $4,598,000 after purchasing an additional 10,609 shares during the last quarter. PL Capital Advisors LLC acquired a new position in shares of Southern National Bancorp of Virginia during the 2nd quarter worth $2,084,000. First Trust Advisors LP acquired a new position in shares of Southern National Bancorp of Virginia during the 2nd quarter worth $252,000. Finally, Rhumbline Advisers acquired a new position in shares of Southern National Bancorp of Virginia during the 2nd quarter worth $216,000. Institutional investors own 52.31% of the company’s stock.

About Southern National Bancorp of Virginia

Southern National Bancorp of Virginia, Inc (Southern National) is the bank holding company for Sonabank (Sonabank). The Company’s principal business is the acquisition of deposits from the general public through its branch offices and deposit intermediaries, as well as the use of these deposits to fund its loan and investment portfolios.

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