Zacks Investment Research upgraded shares of Southern National Bancorp of Virginia, Inc. (NASDAQ:SONA) from a hold rating to a buy rating in a research report report published on Saturday morning. The brokerage currently has $18.00 target price on the bank’s stock.

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. “

SONA has been the topic of a number of other research reports. 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 16.16 on Friday. Southern National Bancorp of Virginia has a 52 week low of $12.72 and a 52 week high of $18.48. The firm has a 50-day moving average of $16.37 and a 200 day moving average of $16.99. The company has a market cap of $386.39 million, a P/E ratio of 48.53 and a beta of 0.36.

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The firm also recently declared a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Monday, August 14th were paid a dividend of $0.08 per share. The ex-dividend date was Thursday, August 10th. This represents a $0.32 dividend on an annualized basis and a yield of 1.98%. Southern National Bancorp of Virginia’s dividend payout ratio (DPR) is presently 91.43%.

In other Southern National Bancorp of Virginia news, Chairman Georgia S. Derrico purchased 4,000 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was acquired at an average price of $15.75 per share, for a total transaction of $63,000.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 10.20% of the company’s stock.

A number of hedge funds have recently made changes to their positions in SONA. Castle Creek Capital Partners IV LP bought a new stake in Southern National Bancorp of Virginia during the 2nd quarter valued at $11,791,000. First Manhattan Co. increased its stake in 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 valued at $4,598,000 after purchasing an additional 10,609 shares in the last quarter. PL Capital Advisors LLC bought a new stake in Southern National Bancorp of Virginia during the 2nd quarter valued at $2,084,000. First Trust Advisors LP bought a new stake in Southern National Bancorp of Virginia during the 2nd quarter valued at $252,000. Finally, Rhumbline Advisers bought a new stake in Southern National Bancorp of Virginia during the 2nd quarter valued at $216,000. Institutional investors and hedge funds 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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