Raymond James Downgrades Heritage Commerce to Market Perform
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 07 2026
0mins
Raymond James analyst David Feaster downgraded Heritage Commerce (HTBK) to Market Perform from Outperform without a price target after the company announced an agreement to be acquired by CVB Financial (CVBF). The firm likes the deal and sees it as a logical fit for CVB and thinks the deal "checks all the boxes," the analyst tells investors in a research note.
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Analyst Views on CVBF
Wall Street analysts forecast CVBF stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CVBF is 23.83 USD with a low forecast of 22.50 USD and a high forecast of 26.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
2 Buy
1 Hold
0 Sell
Moderate Buy
Current: 19.510
Low
22.50
Averages
23.83
High
26.00
Current: 19.510
Low
22.50
Averages
23.83
High
26.00
About CVBF
CVB Financial Corp. is the bank holding company for Citizens Business Bank (the Bank). The Bank offers an array of banking, lending and investing services with more than 60 banking centers and three trust office locations serving California. It offers a range of bank deposit instruments, which include checking, savings, money market and time certificates of deposit for both business and personal accounts, municipalities and districts, and specialized deposit products for title and escrow. It provides a full complement of lending products, including commercial, agribusiness, consumer, small business administration (SBA), real estate, and construction loans, as well as equipment and vehicle leasing. It also offers a range of specialized services designed for the needs of its commercial customers. In addition, it offers a range of financial services and trust services through its CitizensTrust division, which includes fiduciary services, mutual funds, annuities, 401(k) plans and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
CVB Financial Corp Reports $55 Million Earnings for Q4 2025, 195th Consecutive Profitable Quarter
- Sustained Profitability: CVB Financial Corp reported net earnings of $55 million or $0.40 per share for Q4 2025, marking its 195th consecutive profitable quarter, demonstrating robust financial performance and market confidence.
- Dividend Payment Record: The company declared a dividend of $0.20 per share, representing the 145th consecutive quarter of cash dividends, further enhancing investor trust and attractiveness.
- Loan Growth: Total loans reached $8.7 billion as of December 31, 2025, reflecting a 2.7% increase from Q3 2025, indicating strong performance across nearly all loan categories and a solid position in the credit market.
- Decline in Non-Interest Income: While net interest income rose to $122.7 million, non-interest income fell to $11.2 million in Q4, down $1.8 million from Q3, highlighting challenges in diversifying revenue sources for the company.
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Heritage Commerce Corp Reports 62% YoY Net Income Growth in Q4, Announces Strategic Merger
- Financial Performance Boost: Heritage Commerce Corp reported a net income of $15.1 million for Q4 2025, reflecting a 62% year-over-year increase, primarily driven by sustained balance sheet growth and net interest margin expansion, showcasing the company's strong market performance.
- Earnings Per Share Growth: The adjusted earnings per share (EPS) reached $0.28, up 17% year-over-year, indicating the company's success in effective cost management and enhanced operating leverage, further boosting investor confidence.
- Strategic Merger Announcement: The company announced a merger with Citizens Business Bank valued at approximately $811 million, expected to close in Q2 2026, which will enhance market presence and create a combined asset base of about $22 billion, increasing long-term growth potential.
- Improved Asset Quality: The ratio of nonperforming assets to total assets decreased to 0.05%, down from 0.14% a year ago, indicating effective measures in credit quality management, thereby strengthening the company's financial stability.
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