Institute for Wealth Management LLC. bought a new position in Southern National Bancorp of Virginia, Inc. (NASDAQ:SONA) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 50,248 shares of the bank’s stock, valued at approximately $884,000. Institute for Wealth Management LLC. owned about 0.21% of Southern National Bancorp of Virginia at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SONA. ClariVest Asset Management LLC bought a new position in Southern National Bancorp of Virginia in the 2nd quarter worth about $107,000. HighTower Advisors LLC bought a new position in Southern National Bancorp of Virginia in the 2nd quarter worth about $183,000. GSA Capital Partners LLP bought a new position in Southern National Bancorp of Virginia in the 2nd quarter worth about $190,000. Rhumbline Advisers bought a new position in Southern National Bancorp of Virginia in the 2nd quarter worth about $216,000. Finally, First Trust Advisors LP bought a new position in Southern National Bancorp of Virginia in the 2nd quarter worth about $252,000. Hedge funds and other institutional investors own 52.31% of the company’s stock.

In related news, Chairman Georgia S. Derrico acquired 4,000 shares of the stock in a transaction on Monday, August 21st. The stock was purchased at an average price of $15.75 per share, for a total transaction of $63,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 9.60% of the company’s stock.

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Several research analysts have commented on the stock. BidaskClub cut shares of Southern National Bancorp of Virginia from a “sell” rating to a “strong sell” rating in a research report on Monday, August 14th. Zacks Investment Research cut shares of Southern National Bancorp of Virginia from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Finally, ValuEngine raised shares of Southern National Bancorp of Virginia from a “hold” rating to a “buy” rating in a research note on Friday, September 1st.

Shares of Southern National Bancorp of Virginia, Inc. (NASDAQ:SONA) traded down 0.64% during mid-day trading on Friday, hitting $16.99. 76,280 shares of the stock were exchanged. Southern National Bancorp of Virginia, Inc. has a 1-year low of $12.74 and a 1-year high of $18.48. The company’s 50-day moving average is $16.37 and its 200-day moving average is $16.99. The firm has a market cap of $406.23 million, a price-to-earnings ratio of 51.02 and a beta of 0.36.

Southern National Bancorp of Virginia Profile

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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Institutional Ownership by Quarter for Southern National Bancorp of Virginia (NASDAQ:SONA)

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