Zacks: Corpbanca (NYSE:ITCB) Receives Average Recommendation of “Strong Buy” from Brokerages
Shares of Corpbanca (NYSE:ITCB) have received a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.
Analysts have set a 1-year consensus price target 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 its competitors.
ITCB has been the topic of several research reports. Zacks Investment Research downgraded shares of Corpbanca from a “hold” rating to a “sell” rating in a research report on Tuesday, May 24th. Goldman Sachs Group Inc. began coverage on shares of Corpbanca in a report on Wednesday, June 22nd. They issued a “buy” rating and a $14.00 target price on the stock.
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Corpbanca (NYSE:ITCB) traded down 0.91% on Tuesday, hitting $13.11. 9,073 shares of the company traded hands. The stock has a market cap of $4.48 billion, a PE ratio of 8.74 and a beta of 1.09. The stock’s 50-day moving average is $13.07 and its 200 day moving average is $12.82. Corpbanca has a 12 month low of $10.58 and a 12 month high of $14.43.
Hedge funds have recently modified their holdings of the stock. Barclays PLC purchased a new stake in shares of Corpbanca during the second quarter valued at $101,000. Eagle Global Advisors LLC purchased a new stake in shares of Corpbanca during the second quarter valued at $230,000. Comerica Bank purchased a new stake in shares of Corpbanca during the second quarter valued at $239,000. KBC Group NV purchased a new stake in shares of Corpbanca during the second quarter valued at $239,000. Finally, World Asset Management Inc purchased a new stake in shares of Corpbanca during the second quarter valued at $270,000. 1.09% of the stock is currently owned by institutional investors and hedge funds.
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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