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Blaine Scott White, a director and significant shareholder of New Peoples Bankshares Inc. (OTC:NWPP), recently increased his stake in the $71 million market cap company. According to a recent SEC filing, White acquired 33,350 shares of common stock at $3.04 per share, totaling approximately $101,384. The purchase price sits slightly above the current trading price of $3.01, with InvestingPro analysis indicating the stock is currently fairly valued.
This acquisition was made in his capacity as trustee for the B. Scott White Trust, reflecting his continued investment in the bank. Following this transaction, White’s direct and indirect holdings have been updated, with a significant portion held in various trusts and investment entities. The bank maintains a FAIR financial health score according to InvestingPro metrics, with a P/E ratio of 9.5 and trading at nearly book value. While the stock has experienced an 8.8% decline over the past week, it has delivered a positive 23.9% return over the last year. Subscribers to InvestingPro can access additional insights and metrics to evaluate this banking stock’s potential.
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