Itau Corpbanca (ITCB) Stock Rating Lowered by ValuEngine

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

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

Shares of ITCB stock opened at $13.99 on Thursday. 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 52 week low of $10.28 and a 52 week 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 announced its quarterly earnings results on Thursday, August 2nd. The bank reported $0.29 EPS for the quarter. Itau Corpbanca had a net margin of 6.23% and a return on equity of 4.27%. The business had revenue of $448.30 million for the quarter.

Several institutional investors have recently bought and sold shares of ITCB. Eqis Capital Management Inc. bought a new stake in shares of Itau Corpbanca in the 2nd quarter worth about $266,000. Northern Trust Corp increased its holdings in shares of Itau Corpbanca by 11.5% in the 2nd 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 last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Itau Corpbanca by 1.9% in the 2nd 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 last quarter. Hedge funds and other 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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