Harold L. Keene, a director and significant shareholder of New Peoples Bankshares Inc. (NASDAQ:NWPP), recently acquired additional shares in the company. According to an SEC filing, Keene purchased a total of 2,435 shares in two separate transactions. The purchases, made on November 6 and November 25, were executed at prices ranging from $2.7885 to $2.9223 per share, amounting to a total investment of $7,022. These transactions increased Keene's indirect ownership through H.L. Keene LLC, bringing his total holdings to 1,109,210 shares.
InvestingPro Insights
Adding to the recent insider activity at New Peoples Bankshares Inc. (NASDAQ:NWPP), a closer look at the company's financials and market performance reveals some interesting insights. According to InvestingPro data, NWPP has a market capitalization of $70.94 million and is currently trading at a price-to-earnings (P/E) ratio of 9.5, suggesting a relatively modest valuation compared to industry averages.
The company's stock has shown strong performance recently, with a year-to-date price total return of 28.6% as of the latest data. This positive momentum is further reflected in the stock's current price, which stands at 95.24% of its 52-week high, indicating that investors have been bullish on NWPP's prospects.
InvestingPro Tips highlight that NWPP has been profitable over the last twelve months, which aligns with the director's decision to increase his stake in the company. However, it's worth noting that the stock's RSI suggests it may be in overbought territory, potentially indicating that the recent price surge might be nearing a plateau.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights that could provide a deeper understanding of NWPP's financial health and market position. The InvestingPro product includes a total of 14 tips for NWPP, which could be valuable for those considering following the director's lead in acquiring shares.
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