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 issued on Saturday. The firm presently has a $18.00 target price on the bank’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 12.50% 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. “

SONA has been the topic of several other reports. ValuEngine raised 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.

Southern National Bancorp of Virginia (NASDAQ SONA) opened at 16.00 on Friday. Southern National Bancorp of Virginia has a 52-week low of $12.69 and a 52-week high of $18.48. The company’s 50 day moving average is $16.41 and its 200-day moving average is $17.01. The company has a market capitalization of $382.56 million, a price-to-earnings ratio of 48.05 and a beta of 0.36.

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In related news, Chairman Georgia S. Derrico purchased 4,000 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were purchased at an average price of $15.75 per share, with a total value of $63,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 9.60% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. ClariVest Asset Management LLC purchased a new stake in shares of Southern National Bancorp of Virginia during the 2nd quarter valued at about $107,000. Royal Bank of Canada boosted its holdings 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 purchased a new stake in shares of Southern National Bancorp of Virginia during the 2nd quarter valued at about $183,000. GSA Capital Partners LLP purchased a new stake in shares of Southern National Bancorp of Virginia during the 2nd quarter valued at about $190,000. Finally, Susquehanna International Group LLP purchased a new stake in shares of Southern National Bancorp of Virginia during the 2nd quarter valued at about $202,000. 52.31% of the stock is currently owned by hedge funds and other institutional investors.

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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