Short Interest in Itaú Corpbanca (NYSE:ITCB) Falls 91.6%


Itaú Corpbanca (NYSE:ITCB – get rating) was the recipient of a significant drop in short interest during the month of June. As of June 15, there was short interest on a total of 3,800 shares, a drop of 91.6% from the May 31 total of 45,000 shares. Based on an average daily volume of 18,900 shares, the days covered ratio is currently 0.2 days.

Several large investors have recently increased or decreased their holdings in the stock. Northern Trust Corp purchased a new position in Itaú Corpbanca in the first quarter valued at $40,000. CSS LLC IL purchased a new position in Itaú Corpbanca in the fourth quarter valued at $217,000. Allianz Asset Management GmbH increased its stake in Itaú Corpbanca by 90.0% in the fourth quarter. Allianz Asset Management GmbH now owns 48,523 shares of the bank valued at $141,000 after purchasing an additional 22,983 shares during the period. Finally, Yousif Capital Management LLC purchased a new position in Itaú Corpbanca in the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 0.20% of the company’s shares.

Several research firms recently commented on ITCB. Scotiabank upgraded Itaú Corpbanca from a “sector performance” rating to an “outperform” rating in a report dated Wednesday April 13. StockNews.com began coverage of Itaú Corpbanca in a report on Monday, June 6. They issued a “hold” rating for the company.

ITCB shares were up $0.06 during midday trading on Tuesday, reaching $2.92. 1,252 shares of the exchange were exchanged, compared to its average volume of 11,885. Itaú Corpbanca has a 52-week minimum of $2.64 and a 52-week maximum of $4.60. The stock has a 50-day simple moving average of $3.27 and a 200-day simple moving average of $3.21. The company has a market capitalization of $997.50 million, a P/E ratio of 3.63, and a beta of 0.88. The firm has a debt-to-equity ratio of 3.51, a quick ratio of 1.74, and a current ratio of 1.74.

Itaú Corpbanca (NYSE:ITCB – get rating) last published its quarterly earnings results on Friday, April 29. The bank reported $0.22 EPS for the quarter. Itaú Corpbanca had a return on equity of 11.46% and a net margin of 13.62%. The business had revenue of $342.49 million during the quarter. As a group, equity research analysts forecast Itaú Corpbanca to post 1.11 EPS for the current fiscal year.

Itaú Corpbanca Company Profile (get rating)

Itaú Corpbanca provides wholesale and retail banking services to small and medium-sized companies, individuals and institutional clients in Chile and Colombia. The company offers checking and savings accounts, sight and time deposits, certificates of deposit and bank drafts; and loans in Chilean pesos and in foreign currency, commercial financing, commercial and consumer loans in general, loans for working capital, personal installment loans, mortgage loans, lines of credit and letters of credit.

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