Piper Sandler lowered the firm’s price target on Hope Bancorp (HOPE) to $12 from $13 and keeps a Neutral rating on the shares. The firm also trimmed its 2025/2026 EPS estimates to 90c/$1.25 from $1.07/$1.27 based on its latest results, the delayed closing of Territorial Bancorp (TBNK), and in consideration of its new FY25 guidance. The net result to Piper’s outlook included lower net interest income, better noninterest expense and higher credit costs.
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