Southern National Bancorp of Virginia, Inc. (NASDAQ:SONA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

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. “

Several other analysts also recently commented on the stock. 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. 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.

Shares of Southern National Bancorp of Virginia (NASDAQ:SONA) traded down 0.76% during midday trading on Wednesday, hitting $15.72. The company’s stock had a trading volume of 48,007 shares. Southern National Bancorp of Virginia has a 52-week low of $12.34 and a 52-week high of $18.48. The firm has a market cap of $375.87 million, a P/E ratio of 47.21 and a beta of 0.37. The stock’s 50 day moving average is $16.95 and its 200-day moving average is $17.05.

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In related news, Chairman Georgia S. Derrico purchased 4,000 shares of Southern National Bancorp of Virginia stock in a transaction on Monday, August 21st. The shares were bought at an average cost of $15.75 per share, for a total transaction of $63,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 10.20% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Castle Creek Capital Partners IV LP bought a new stake in shares of Southern National Bancorp of Virginia during the second quarter worth about $11,791,000. Banc Funds Co. LLC increased its stake in shares of Southern National Bancorp of Virginia by 53.5% in the second quarter. Banc Funds Co. LLC now owns 1,480,747 shares of the bank’s stock worth $26,061,000 after buying an additional 516,330 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Southern National Bancorp of Virginia by 3,608.9% in the second quarter. The Manufacturers Life Insurance Company now owns 367,407 shares of the bank’s stock worth $6,466,000 after buying an additional 357,501 shares in the last quarter. PL Capital Advisors LLC bought a new stake in shares of Southern National Bancorp of Virginia during the second quarter worth about $2,084,000. Finally, FSI Group LLC bought a new stake in shares of Southern National Bancorp of Virginia during the second quarter worth about $1,929,000. Institutional investors own 40.07% 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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