UPDATE: DA Davidson Downgrades Hope Bancorp (HOPE) to Neutral
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(Updated - May 30, 2018 7:47 AM EDT)
(updated to add analyst comment)
DA Davidson downgraded Hope Bancorp (NASDAQ: HOPE) from Buy to Neutral with a price target of $20.00.
Analyst Gary Tenner steps to the sideline citing the recent appreciation in the equity since the last April sell-of. The analyst believes earnings headwinds will likely remain as deposit costs increase.
Shares of Hope Bancorp closed at $18.07 yesterday.
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