Southern National Banc. of Virginia (NASDAQ:SONA) Upgraded by ValuEngine to “Hold”

Southern National Banc. of Virginia (NASDAQ:SONA) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, September 4th, ValuEngine reports.

Other equities research analysts also recently issued reports about the company. Zacks Investment Research upgraded Southern National Banc. of Virginia from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research note on Thursday, May 9th. BidaskClub downgraded Southern National Banc. of Virginia from a “hold” rating to a “sell” rating in a research note on Saturday, August 17th.

NASDAQ SONA traded up $0.11 during trading hours on Wednesday, hitting $15.75. The company’s stock had a trading volume of 2,395 shares, compared to its average volume of 33,439. The company’s 50 day simple moving average is $15.00 and its two-hundred day simple moving average is $14.98. The company has a market cap of $370.85 million, a P/E ratio of 11.33 and a beta of 0.89. Southern National Banc. of Virginia has a 12 month low of $12.87 and a 12 month high of $17.38. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.96 and a quick ratio of 0.96.

Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE lifted its holdings in Southern National Banc. of Virginia by 41.7% in the 4th quarter. Bank of America Corp DE now owns 17,612 shares of the bank’s stock worth $233,000 after purchasing an additional 5,181 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Southern National Banc. of Virginia by 78.4% during the 4th quarter. Millennium Management LLC now owns 23,619 shares of the bank’s stock worth $312,000 after acquiring an additional 10,382 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Southern National Banc. of Virginia by 15.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 655,843 shares of the bank’s stock worth $8,670,000 after acquiring an additional 88,294 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Southern National Banc. of Virginia by 507.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,085 shares of the bank’s stock worth $60,000 after acquiring an additional 3,413 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Southern National Banc. of Virginia during the 1st quarter worth approximately $576,000. 71.51% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading: Hedge Funds – Risk or Reward?

To view ValuEngine’s full report, visit ValuEngine’s official website.

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