Zacks: Corpbanca (NYSE:ITCB) Receives Average Recommendation of “Strong Buy” from Brokerages
Corpbanca (NYSE:ITCB) has earned an average broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.
Brokers have set a 1-year consensus price objective of $17.24 for the company, according to Zacks. Zacks has also given Corpbanca an industry rank of 68 out of 265 based on the ratings given to related companies.
Several brokerages have issued reports on ITCB. Goldman Sachs Group Inc. began coverage on shares of Corpbanca in a research note on Wednesday, June 22nd. They issued a “buy” rating and a $14.00 price objective for the company. Zacks Investment Research downgraded shares of Corpbanca from a “hold” rating to a “sell” rating in a research note on Tuesday, May 24th.
Several hedge funds have recently bought and sold shares of the stock. Barclays PLC bought a new stake in Corpbanca during the second quarter valued at $101,000. Eagle Global Advisors LLC bought a new stake in Corpbanca during the second quarter valued at $230,000. Comerica Bank bought a new stake in Corpbanca during the second quarter valued at $239,000. KBC Group NV bought a new stake in Corpbanca during the second quarter valued at $239,000. Finally, World Asset Management Inc bought a new stake in Corpbanca during the second quarter valued at $270,000. 1.09% of the stock is owned by hedge funds and other institutional investors.
Corpbanca (NYSE:ITCB) traded down 0.91% during trading on Tuesday, reaching $13.11. The company had a trading volume of 9,073 shares. Corpbanca has a 12-month low of $10.58 and a 12-month high of $14.43. The stock has a market capitalization of $4.48 billion, a P/E ratio of 8.74 and a beta of 1.09. The stock has a 50 day moving average of $13.07 and a 200-day moving average of $12.82.
Corpbanca Company Profile
Itau Corpbanca, formerly CorpBanca, is a Chile-based bank engaged in the provision of commercial and retail banking services. The Bank is organized into four segments: the Commercial banking segment includes a range of financial products and services for large, small and medium sized, corporate, and real estate companies; the Retail banking segment includes Traditional and Private Banking, and Consumer divisions, which offer, among others, checking accounts, consumer loans, credit cards and mortgage loans to middle and upper segments, as well as consumer loans, credit cards and mortgage loans to natural segments; the Treasury and International segment includes treasury activities, such as financial management and funding, among others, and the Non-banking financial services segment covers activities of its subsidiaries, which include insurance brokerage, financial advisory service, asset management and securities brokerage.
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