Janney Montgomery Scott analyst Timothy Coffey downgraded Heritage Commerce (HTBK) to Neutral from Buy with a $14 fair value estimate after the company announced an agreement to be acquired by CVB Financial (CVBF).
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Read More on HTBK:
- CVB Financial price target raised to $22.50 from $21 at DA Davidson
- Heritage Commerce downgraded to Neutral from Buy at DA Davidson
- Heritage Commerce Announces $811M Merger Agreement
- Heritage Commerce to merge into CVB Financial in $811M all-stock transaction
- Heritage Commerce price target raised to $12 from $11 at Stephens