John D. Cox, a director at New Peoples Bankshares Inc. (OTC:NWPP), recently acquired a significant amount of the company's common stock. According to a recent filing, Cox purchased 36,585 shares at a price of $2.80 per share, totaling approximately $102,438. This transaction increases his indirect ownership, held through the Cox Living Trust, to 622,146 shares. This move reflects a substantial investment in the bank's stock, indicating confidence in the company's prospects.
InvestingPro Insights
John D. Cox's recent purchase of New Peoples Bankshares Inc. (OTC:NWPP) shares aligns with several positive indicators from InvestingPro data. The company's stock is currently trading at $3.00, which is 95.24% of its 52-week high, suggesting strong recent performance. This is further evidenced by the impressive year-to-date price total return of 28.6% as of the latest data.
InvestingPro Tips highlight that NWPP has been profitable over the last twelve months, which may have influenced Cox's decision to increase his stake. The company's P/E ratio of 9.5 indicates that the stock might be undervalued compared to the broader market, potentially offering an attractive entry point for investors like Cox.
It's worth noting that NWPP offers a dividend yield of 2.33%, with a dividend growth of 16.67% over the last twelve months. This could be an additional factor in Cox's investment decision, as it provides a steady income stream alongside potential capital appreciation.
For investors seeking more comprehensive analysis, InvestingPro offers 11 additional tips for NWPP, providing deeper insights into the company's financial health and market position.
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