Southern National Bancorp of Virginia, Inc. (NASDAQ:SONA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The brokerage currently has a $18.00 price objective on the bank’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 10.63% from the company’s current price.

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. “

Other equities research analysts also recently issued reports about the company. BidaskClub downgraded Southern National Bancorp of Virginia from a “sell” rating to a “strong sell” rating in a research report on Monday, August 14th. ValuEngine upgraded Southern National Bancorp of Virginia from a “hold” rating to a “buy” rating in a research report on Friday, September 1st.

Southern National Bancorp of Virginia (SONA) opened at 16.27 on Friday. The company has a 50-day moving average price of $16.61 and a 200 day moving average price of $17.05. The stock has a market capitalization of $389.02 million, a P/E ratio of 48.86 and a beta of 0.36. Southern National Bancorp of Virginia has a 1-year low of $12.60 and a 1-year high of $18.48.

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In related news, Chairman Georgia S. Derrico acquired 4,000 shares of the business’s stock in a transaction dated Monday, August 21st. The stock was 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 is accessible through this hyperlink. 9.60% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in SONA. ClariVest Asset Management LLC acquired a new stake in shares of Southern National Bancorp of Virginia during the 2nd quarter valued at $107,000. Royal Bank of Canada lifted its position in shares of Southern National Bancorp of Virginia by 137.8% during the 2nd quarter. Royal Bank of Canada now owns 6,277 shares of the bank’s stock valued at $110,000 after acquiring an additional 3,637 shares during the last quarter. HighTower Advisors LLC acquired a new stake in shares of Southern National Bancorp of Virginia during the 2nd quarter valued at $183,000. GSA Capital Partners LLP acquired a new stake in shares of Southern National Bancorp of Virginia during the 2nd quarter valued at $190,000. Finally, Susquehanna International Group LLP acquired a new stake in shares of Southern National Bancorp of Virginia during the 2nd quarter valued at $202,000. 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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