Southern National Banc. of Virginia, Inc (SONA) to Issue Quarterly Dividend of $0.08

Southern National Banc. of Virginia, Inc (NASDAQ:SONA) declared a quarterly dividend on Thursday, October 25th, NASDAQ reports. Stockholders of record on Monday, November 12th will be given a dividend of 0.08 per share by the bank on Friday, November 23rd. This represents a $0.32 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, November 9th.

Southern National Banc. of Virginia has raised its dividend payment by an average of 2.2% annually over the last three years. Southern National Banc. of Virginia has a payout ratio of 24.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Southern National Banc. of Virginia to earn $1.30 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 24.6%.

NASDAQ:SONA opened at $15.69 on Friday. Southern National Banc. of Virginia has a 12-month low of $14.37 and a 12-month high of $18.24. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market capitalization of $377.31 million, a PE ratio of 11.80 and a beta of 0.39.

Southern National Banc. of Virginia (NASDAQ:SONA) last posted its quarterly earnings results on Thursday, October 25th. The bank reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.04. Southern National Banc. of Virginia had a return on equity of 9.83% and a net margin of 19.65%. The business had revenue of $25.23 million for the quarter, compared to analyst estimates of $24.90 million. Analysts forecast that Southern National Banc. of Virginia will post 1.32 EPS for the current fiscal year.

In other Southern National Banc. of Virginia news, insider Georgia S. Derrico bought 2,000 shares of Southern National Banc. of Virginia stock in a transaction on Tuesday, October 30th. The shares were purchased at an average cost of $15.25 per share, for a total transaction of $30,500.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Fitzgerald Biagas bought 3,290 shares of Southern National Banc. of Virginia stock in a transaction on Tuesday, October 30th. The shares were acquired at an average price of $15.20 per share, for a total transaction of $50,008.00. Following the completion of the acquisition, the director now owns 45,379 shares of the company’s stock, valued at approximately $689,760.80. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 5,590 shares of company stock worth $85,080. Corporate insiders own 6.00% of the company’s stock.

SONA has been the topic of several recent analyst reports. BidaskClub upgraded Southern National Banc. of Virginia from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. ValuEngine lowered Southern National Banc. of Virginia from a “hold” rating to a “sell” rating in a report on Tuesday, August 28th. Finally, Zacks Investment Research upgraded Southern National Banc. of Virginia from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Thursday, August 2nd.

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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