Southern National Banc. of Virginia, Inc (SONA) Rating Lowered to Sell at Zacks Investment Research

Southern National Banc. of Virginia, Inc (NASDAQ:SONA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, May 3rd.

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. “

Southern National Banc. of Virginia (NASDAQ:SONA) traded up 0.61% during midday trading on Wednesday, hitting $16.61. 4,167 shares of the stock were exchanged. The firm’s 50-day moving average price is $17.24 and its 200 day moving average price is $16.17. The firm has a market capitalization of $204.97 million, a P/E ratio of 21.29 and a beta of 0.37. Southern National Banc. of Virginia has a 1-year low of $11.60 and a 1-year high of $18.48.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 26th. Shareholders of record on Monday, May 15th will be given a $0.08 dividend. The ex-dividend date is Thursday, May 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.94%. Southern National Banc. of Virginia’s payout ratio is currently 38.10%.

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In other news, Director John J. Forch purchased 6,800 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was acquired at an average cost of $8.08 per share, for a total transaction of $54,944.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederick L. Bollerer purchased 3,800 shares of the company’s stock in a transaction on Wednesday, March 29th. The stock was purchased at an average price of $8.56 per share, with a total value of $32,528.00. Following the completion of the transaction, the director now owns 9,989 shares of the company’s stock, valued at $85,505.84. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 14,088 shares of company stock valued at $125,322. Company insiders own 9.60% of the company’s stock.

About Southern National Banc. 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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