Itaú Corpbanca (NYSE:ITCB) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of Itaú Corpbanca (NYSE:ITCB – Get Rating) in a research note issued to investors on Tuesday. The firm set a “hold” rating on the bank’s stock.

Several other analysts also recently commented on the stock. Scotiabank upgraded shares of Itaú Corpbanca from a “sector perform” rating to an “outperform” rating in a report on Wednesday, April 13th. JPMorgan Chase & Co. began coverage on shares of Itaú Corpbanca in a report on Thursday, February 17th. They set an “overweight” rating and a $5.00 target price on the stock.

Shares of ITCB stock opened at $3.24 on Tuesday. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 4.51. The firm has a market cap of $1.11 billion, a P/E ratio of 3.45 and a beta of 0.91. The business’s 50 day moving average is $3.18. Itaú Corpbanca has a 52 week low of $2.64 and a 52 week high of $6.23.

Itaú Corpbanca (NYSE:ITCB – Get Rating) last announced its earnings results on Monday, February 28th. The bank reported $0.15 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.04). The company had revenue of $441.36 million for the quarter. Itaú Corpbanca had a return on equity of 12.41% and a net margin of 13.83%. On average, sell-side analysts forecast that Itaú Corpbanca will post 0.82 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Yousif Capital Management LLC acquired a new stake in shares of Itaú Corpbanca in the fourth quarter valued at approximately $29,000. Comerica Bank bought a new position in shares of Itaú Corpbanca in the fourth quarter valued at $34,000. Citadel Advisors LLC bought a new position in shares of Itaú Corpbanca in the fourth quarter valued at $33,000. Allianz Asset Management GmbH grew its stake in shares of Itaú Corpbanca by 90.0% in the fourth quarter. Allianz Asset Management GmbH now owns 48,523 shares of the bank’s stock valued at $141,000 after buying an additional 22,983 shares in the last quarter. Finally, CSS LLC IL bought a new position in shares of Itaú Corpbanca in the fourth quarter valued at $217,000. Institutional investors own 0.31% of the company’s stock.

About Itaú Corpbanca (Get Rating)

Itaú Corpbanca provides wholesale and retail banking services to small and medium-sized enterprises, individuals, and institutional clients in Chile and Colombia. The company offers checking and savings accounts, as well as demand and time deposits, and bankers' drafts; and provides commercial, mortgage, consumer, and contingent loans.

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