Hope Bancorp price target lowered to $11 from $12 at Wedbush

Wedbush lowered the firm’s price target on Hope Bancorp to $11 from $12 and keeps a Neutral rating on the shares. The firm notes Hope Bancorp reported a mixed quarter given continued funding pressures weighing on net interest margin and credit deterioration, but also announced its acquisition of Territorial Bancorp that should drive double-digit EPS accretion in 2025.