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

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 analysts have also issued reports about the stock. ValuEngine upgraded shares of Southern National Bancorp of Virginia from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. BidaskClub lowered shares of Southern National Bancorp of Virginia from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th.

Shares of Southern National Bancorp of Virginia (NASDAQ:SONA) traded down 0.62% during midday trading on Thursday, hitting $16.00. The company had a trading volume of 470,931 shares. The company has a market capitalization of $382.56 million, a P/E ratio of 48.05 and a beta of 0.36. Southern National Bancorp of Virginia has a 52 week low of $12.69 and a 52 week high of $18.48. The firm’s 50 day moving average is $16.41 and its 200 day moving average is $17.01.

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In other news, Chairman Georgia S. Derrico acquired 4,000 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The stock was bought at an average cost of $15.75 per share, for a total transaction of $63,000.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 9.60% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. ClariVest Asset Management LLC purchased a new position in Southern National Bancorp of Virginia in the 2nd quarter worth approximately $107,000. Royal Bank of Canada raised its holdings in Southern National Bancorp of Virginia by 137.8% in the 2nd quarter. Royal Bank of Canada now owns 6,277 shares of the bank’s stock worth $110,000 after acquiring an additional 3,637 shares during the last quarter. HighTower Advisors LLC purchased a new position in Southern National Bancorp of Virginia in the 2nd quarter worth approximately $183,000. GSA Capital Partners LLP purchased a new position in Southern National Bancorp of Virginia in the 2nd quarter worth approximately $190,000. Finally, Susquehanna International Group LLP purchased a new position in Southern National Bancorp of Virginia in the 2nd quarter worth approximately $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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