Procore signs multi-year strategic collaboration agreement with AWS
First Bancorp stock reached an all-time high of $52.23 recently, marking a significant milestone for the $2.15 billion market cap company. This achievement reflects a robust performance over the past year, with the stock delivering a 33.71% return, supported by a steady 1.78% dividend yield and an impressive 39-year track record of consistent dividend payments. The surge to this all-time high underscores investor confidence and the company’s strong market position, with analysts setting price targets between $51 and $57. As First Bancorp continues to navigate the financial landscape, this milestone highlights its growth trajectory and the positive sentiment surrounding its future prospects. InvestingPro analysis shows the stock is currently trading at Fair Value, with several more exclusive insights available to subscribers.
In other recent news, First Bancorp reported quarterly results that surpassed consensus estimates, with core pre-provision net revenue reaching $52.3 million. This performance was attributed to stronger net interest income, higher fees, and lower expenses. Analysts at Stephens responded by raising their price target for First Bancorp to $57, maintaining an Overweight rating. Similarly, Keefe, Bruyette & Woods (KBW) increased their price target to $53, citing the bank’s better-than-expected second-quarter 2025 results. The bank’s net interest margin improved by 7 basis points to 3.33% from the previous quarter.
Additionally, First Bancorp announced an increase in its quarterly cash dividend to $0.23 per share, up from $0.22. In leadership news, Larry Jackson has been appointed as the new Chief Credit Officer at First Bank, bringing over two decades of experience in financial services. KBW forecasts that First Bancorp is expected to achieve a growth rate of 8% in 2026, leading among its peers in the Southeast banking sector. These developments reflect First Bancorp’s ongoing strategic initiatives and performance in the current financial environment.
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