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 Wednesday. The brokerage presently has a $19.00 price target on the bank’s stock. Zacks Investment Research‘s target price suggests a potential upside of 13.57% from the stock’s previous close.

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 subject of several other research reports. ValuEngine raised shares of Southern National Bancorp of Virginia from a “hold” rating to a “buy” rating in a research note 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 note on Monday, August 14th.

Shares of Southern National Bancorp of Virginia (NASDAQ SONA) opened at 16.75 on Wednesday. Southern National Bancorp of Virginia has a one year low of $12.60 and a one year high of $18.48. The company has a 50 day moving average of $16.75 and a 200-day moving average of $17.05. The stock has a market cap of $400.49 million, a price-to-earnings ratio of 50.30 and a beta of 0.37.

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In other news, Chairman Georgia S. Derrico bought 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was purchased at an average price of $15.75 per share, with a total value of $63,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 9.60% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Castle Creek Capital Partners IV LP purchased a new position in shares of Southern National Bancorp of Virginia during the second quarter valued at $11,791,000. First Manhattan Co. increased its position in shares of Southern National Bancorp of Virginia by 4.2% in the second quarter. First Manhattan Co. now owns 261,281 shares of the bank’s stock valued at $4,598,000 after buying an additional 10,609 shares during the last quarter. ClariVest Asset Management LLC purchased a new position in shares of Southern National Bancorp of Virginia during the second quarter valued at $107,000. FSI Group LLC purchased a new position in shares of Southern National Bancorp of Virginia during the second quarter valued at $1,929,000. Finally, PL Capital Advisors LLC purchased a new position in shares of Southern National Bancorp of Virginia during the second quarter valued at $2,084,000. 52.31% of the stock is 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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