Itau Corpbanca (ITCB) Stock Rating Lowered by ValuEngine

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

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

Itau Corpbanca stock traded up $0.54 during mid-day trading on Thursday, hitting $13.99. The company’s stock had a trading volume of 8,748 shares, compared to its average volume of 7,557. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of 20.57 and a beta of 1.29. Itau Corpbanca has a 1 year low of $10.28 and a 1 year high of $16.34. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.67 and a current ratio of 1.67.

Itau Corpbanca (NYSE:ITCB) last issued its quarterly earnings data on Thursday, August 2nd. The bank reported $0.29 earnings per share for the quarter. The company had revenue of $448.30 million during the quarter. Itau Corpbanca had a return on equity of 4.27% and a net margin of 6.23%.

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

Itau Corpbanca Company Profile

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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