StockNews.com Initiates Coverage on Itaú Corpbanca (NYSE:ITCB)

StockNews.com started coverage on shares of Itaú Corpbanca (NYSE:ITCB – Get Rating) in a report released on Sunday. The firm set a “hold” rating on the bank’s stock.

A number of other research firms have also recently issued reports on ITCB. Scotiabank upgraded shares of Itaú Corpbanca from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, April 13th. JPMorgan Chase & Co. assumed coverage on shares of Itaú Corpbanca in a research report on Thursday, February 17th. They issued an “overweight” rating and a $5.00 price objective on the stock. Finally, Zacks Investment Research upgraded shares of Itaú Corpbanca from a “hold” rating to a “buy” rating and set a $3.25 price objective on the stock in a research report on Thursday, May 19th.

Itaú Corpbanca stock opened at $3.79 on Friday. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 3.51. The company has a market capitalization of $1.29 billion, a PE ratio of 4.79 and a beta of 0.90. The firm has a fifty day simple moving average of $3.23 and a two-hundred day simple moving average of $3.19. Itaú Corpbanca has a twelve month low of $2.64 and a twelve month high of $5.03.

Itaú Corpbanca (NYSE:ITCB – Get Rating) last posted its quarterly earnings results on Friday, April 29th. The bank reported $0.22 earnings per share for the quarter. The business had revenue of $342.49 million during the quarter. Itaú Corpbanca had a net margin of 13.62% and a return on equity of 11.46%. As a group, equities analysts expect that Itaú Corpbanca will post 1.11 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in ITCB. CSS LLC IL purchased a new position in shares of Itaú Corpbanca during the fourth quarter valued at about $217,000. Dimensional Fund Advisors LP increased its position in shares of Itaú Corpbanca by 40.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 84,188 shares of the bank’s stock valued at $244,000 after buying an additional 24,080 shares during the period. Allianz Asset Management GmbH increased its position in shares of Itaú Corpbanca by 90.0% during 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 during the period. Northern Trust Corp purchased a new position in shares of Itaú Corpbanca during the first quarter valued at about $40,000. Finally, Citadel Advisors LLC bought a new stake in Itaú Corpbanca during the fourth quarter worth about $33,000. Institutional investors own 0.20% of the company’s stock.

Itaú Corpbanca Company Profile (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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