Heritage Commerce Completes Merger and Delisting with CVBF

Heritage Commerce ( (HTBK) ) has provided an announcement.

On the closing date of their merger, Heritage Commerce was combined with CVB Financial Corp. (CVBF), with Heritage Bank of Commerce subsequently merged into CVBF’s Citizens Business Bank and both Heritage entities ceasing separate corporate existence. As of the effective time, Heritage shareholders saw each share converted into 0.65 CVBF shares with cash in lieu of fractional shares, equity awards were cashed out or converted into CVBF restricted stock units, Heritage common stock was delisted from Nasdaq before the market open on April 20, 2026, and deregistration steps were initiated, while Heritage’s governance structure was replaced by CVBF’s, with Clay Jones becoming President of CVBF and Citizens under CEO David Brager and select Heritage executives receiving bonuses and severance tied to the transaction.

The merger of Heritage into CVBF consolidates Heritage’s California banking operations into Citizens Business Bank, expanding CVBF’s regional footprint and integrating Heritage’s customer base and staff into the larger institution. The share exchange, delisting, and deregistration effectively transition Heritage investors into CVBF shareholders, while leadership changes, including Jones and Julianne Biagini-Komas joining CVBF and Citizens boards, signal a reshaped governance and management structure for the combined bank.

The most recent analyst rating on (HTBK) stock is a Buy with a $15.00 price target. To see the full list of analyst forecasts on Heritage Commerce stock, see the HTBK Stock Forecast page.

Spark’s Take on HTBK Stock

According to Spark, TipRanks’ AI Analyst, HTBK is a Outperform.

HTBK scores well primarily on solid financials (improving 2025 earnings/cash flow and a conservative balance sheet) and supportive valuation (moderate P/E with a high dividend yield). The score is held back by mixed technical momentum and some merger-related legal overhang despite the merger’s clear progress.

To see Spark’s full report on HTBK stock, click here.

More about Heritage Commerce

Heritage Commerce, through its subsidiary Heritage Bank of Commerce, operated as a California-based commercial bank focused on regional business and retail customers. Following its merger, its banking operations and market presence have been absorbed into Citizens Business Bank, the national banking subsidiary of CVB Financial Corp. (CVBF), which continues as the surviving entity in the combined franchise.

Average Trading Volume: 688,443

Technical Sentiment Signal: Buy

Current Market Cap: $812.4M

Learn more about HTBK stock on TipRanks’ Stock Analysis page.