ValuEngine Downgrades Itau Corpbanca (ITCB) to Sell

ValuEngine lowered shares of Itau Corpbanca (NYSE:ITCB) from a hold rating to a sell rating in a report issued on Thursday.

Separately, Citigroup upgraded shares of Itau Corpbanca from a neutral rating to a buy rating in a research note on Thursday, August 30th.

Itau Corpbanca stock traded up $0.54 during mid-day trading on Thursday, reaching $13.99. 8,748 shares of the company traded hands, compared to its average volume of 7,951. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 2.39. Itau Corpbanca has a fifty-two week low of $10.28 and a fifty-two week high of $16.34. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of 31.23 and a beta of 1.18.

Itau Corpbanca (NYSE:ITCB) last issued its quarterly earnings results on Thursday, August 2nd. The bank reported $0.29 earnings per share (EPS) for the quarter. Itau Corpbanca had a net margin of 3.81% and a return on equity of 2.57%. The business had revenue of $448.30 million for the quarter.

Institutional investors have recently modified their holdings of the business. Eqis Capital Management Inc. purchased a new position in Itau Corpbanca during the second quarter worth about $266,000. Northern Trust Corp boosted its stake in Itau Corpbanca by 11.5% during the second quarter. Northern Trust Corp now owns 131,861 shares of the bank’s stock worth $1,958,000 after buying an additional 13,651 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Itau Corpbanca by 1.9% during the second quarter. Renaissance Technologies LLC now owns 317,700 shares of the bank’s stock worth $4,718,000 after buying an additional 6,000 shares during the period. Institutional investors and hedge funds own 0.56% of the company’s stock.

About Itau Corpbanca

Itaú CorpBanca provides wholesale and retail banking services. The company offers checking and savings accounts, as well as accepts demand and time deposits; and provides commercial loans, mortgage loans, and consumer loans. It also offers financial advisory, mutual fund management, insurance brokerage, and securities brokerage services; trust portfolio management services, including investment trust management, administration, security, real estate trusts, and fund administration; court and out-of-court collections services for loans; and Internet and mobile banking services.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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