Keefe Bruyette raised the firm’s price target on Hope Bancorp (HOPE) to $14 from $13 and keeps a Market Perform rating on the shares. The firm is “incrementally more positive” on Hope following the acquisition of SMBC Manubank’s commercial business unit. The deal is highly accretive to earnings, the analyst tells investors in a research note.
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Read More on HOPE:
- Hope Bancorp Elevates Peter Koh to President and COO
- Hope Bancorp upgraded to Buy from Neutral at Brean Capital
- Hope Bancorp to Acquire SMBC MANUBANK Commercial Banking Unit
- Bank of Hope to acquire the Commercial Banking Unit of SMBC Manubank
- Hope Bancorp Announces Upcoming Retirement of Two Directors