In a recent disclosure to the Securities and Exchange Commission, White Blaine Scott, a director and significant shareholder of New Peoples Bankshares Inc. (OTC:NWPP), reported a purchase of 500 shares of common stock. The transaction, dated December 11, 2024, was executed at a price of $3.00 per share, amounting to a total investment of $1,500. The stock, which has shown strong momentum with a 33% gain year-to-date, currently trades at $3.55. According to InvestingPro analysis, the stock is trading near its 52-week high with technical indicators suggesting overbought conditions.
Following this acquisition, Scott's direct and indirect holdings have been updated to reflect these additional shares. The shares were acquired through Sky Investments LLC, one of the entities under Scott's indirect ownership. As of the latest filing, Scott's total direct and indirect ownership in New Peoples Bankshares stands at over 1.4 million shares, underscoring his significant stake in the $72 million market cap company. The bank maintains a modest P/E ratio of 9.5, with InvestingPro offering additional insights on valuation metrics and financial health indicators.
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