Itaú Corpbanca (NYSE:ITCB) sees a significant increase in short-term interest
Itau Corpbanca (NYSE:ITCB – Get a rating) was the target of significant short-term interest growth in October. As of October 15, there were short interests totaling 158,300 shares, a growth of 38.6% from the total of 114,200 shares as of September 30. Based on an average daily trading volume of 20,700 shares, the day-to-cover ratio is currently 7.6 days.
Itaú Corpbanca Institutional Trading
A hedge fund recently increased its stake in Itaú Corpbanca shares. Veriti Management LLC increased its stake in the shares of Itaú Corpbanca (NYSE:ITCB – Get a rating) by 4.0% in the second quarter, according to the company in its latest 13F filing with the Securities and Exchange Commission. The fund held 89,592 shares of the bank after acquiring 3,479 additional shares during the quarter. Veriti Management LLC’s holdings in Itaú Corpbanca were worth $254,000 at the end of the last quarter. 0.15% of the shares are currently held by hedge funds and other institutional investors.
Price performance of Itaú Corpbanca
Stock ITCB traded down $0.04 during Friday’s midday session, hitting $2.93. 2,890 shares of the company have been traded, against an average volume of 25,192. The company has a leverage ratio of 3.39, a current ratio of 1.60 and a quick ratio of 1.60. The company has a market capitalization of $1.00 billion, a P/E ratio of 3.91 and a beta of 1.01. Itaú Corpbanca has a 52-week low of $2.50 and a 52-week high of $3.94. The company has a fifty-day moving average price of $3.09 and a 200-day moving average price of $3.14.
Itau Corpbanca (NYSE:ITCB – Get a rating) last reported results on Tuesday, August 2. The bank reported earnings per share of $0.24 for the quarter, missing analyst consensus estimates of $0.31 per ($0.07). The company posted revenue of $597.50 million for the quarter, compared to $449.78 million expected by analysts. Itaú Corpbanca achieved a net margin of 12.99% and a return on equity of 12.97%. As a group, analysts expect Itaú Corpbanca to post 1.15 earnings per share for the current year.
Analyst upgrades and downgrades
Separately, StockNews.com launched a cover story on Itaú Corpbanca in a Wednesday, October 12, report. They set a “hold” rating for the company.
About Itaú Corpbanca
Itaú Corpbanca provides wholesale and retail banking services to small and medium enterprises, individuals and institutional clients in Chile and Colombia. The company offers checking and savings accounts, demand and term deposits, certificates of deposit and bank drafts; and Chilean peso and foreign currency loans, trade finance, general commercial and consumer loans, working capital loans, personal installment loans, mortgage loans, lines of credit and letters of credit.
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