New Peoples Bankshares Director Barton Scot Long Buys $33,366 In Stock Via Investing.com

In a recent transaction filed with the Securities and Exchange Commission, Barton Scot Long, a director at New Peoples Bankshares Inc (OTC:NWPP), purchased additional shares of the company. Long purchased 12,450 shares of common stock at a price of $2.68 per share, for a total investment of $33,366.

This acquisition increases Long’s holdings in New Peoples Bankshares, reflecting a vote of confidence in the bank’s future prospects. Following the transaction, Long now owns a total of 129,842 shares in the company.

Investors often monitor insider buyouts because they can be a signal of an executive’s bullish view of the company’s current valuation or future performance. Transactions like these are public records, providing transparency and insight into the actions of a company’s insiders.

New Peoples Bankshares Inc, headquartered in Honaker, Virginia, is a state-owned commercial bank operating in the financial sector. The bank’s shares trade over the counter under the ticker symbol OTC:NWPP.

The reported transaction was executed on September 16, 2024 and was disclosed in a Form 4 filed with the SEC as required by securities regulations. Details of the transaction are now available for review by investors and the public.

InvestingPro Insights

Barton director Scot Long’s recent stock purchase in New Peoples Bankshares Inc (OTC:NWPP) aligns with the company’s current financials, which suggest a stable outlook. According to InvestingPro data, New Peoples Bankshares has a market cap of $63.39 million and the stock trades at a price-to-earnings (P/E) ratio of 9.21, which is close to its adjusted P/E ratio for the last twelve months starting Q2 2024 at 9.17am. This valuation indicates that the company is potentially undervalued compared to the broader market, which could be part of the rationale behind Long’s investment decision.

Additionally, the bank has maintained profitability over the past twelve months, which is a positive signal for investors given the stock’s potential. The company’s operating income margin for the same period is 24.44%, showing efficient management and the ability to generate profits from its operations.

One of InvestingPro’s tips points out that New Peoples Bankshares suffers from poor gross profit margins, which investors should consider in the context of the company’s overall financial health. Despite this, the company’s dividend yield as of September 2024 is attractive at 2.61%, complemented by significant dividend growth of 16.67% over the last twelve months through Q2 2024. This may appeal to income-focused investors.

For those interested in further details and analysis, additional InvestingPro Tips for New Peoples Bankshares Inc are available. There are currently several tips that provide deeper insights into company performance and valuation, accessible at https://www.investing.com/pro/NWPP.

This article was generated with support from AI and reviewed by an editor. For more information, see T&C.