Itaú Corpbanca (NYSE:ITCB) Short interest up 7.6% in August

Itau Corpbanca (NYSE: ITCB – Get a rating) benefited from strong growth in short-term interest rates in August. As of August 15, there were short interests totaling 11,300 shares, a growth of 7.6% from the total of 10,500 shares as of July 31. Based on an average daily trading volume of 12,700 shares, the day-to-cover ratio is currently 0.9 days.

Stock Itaú Corpbanca up 1.1%

Itaú Corpbanca stock traded at $0.04 at midday Wednesday, hitting $3.35. The stock recorded trading volume of 6,832 shares, compared to an average trading volume of 22,709 shares. The company has a market capitalization of $1.14 billion, a price-earnings ratio of 4.46 and a beta of 1.02. The company has a 50-day moving average price of $3.05 and a two-hundred-day moving average price of $3.17. Itaú Corpbanca has a 1-year low of $2.50 and a 1-year high of $4.26. The company has a debt ratio of 3.51, a current ratio of 1.74 and a quick ratio of 1.74.

Hedge funds weigh on Itaú Corpbanca

A number of hedge funds have recently bought and sold shares of the company. Veriti Management LLC increased its stake in Itaú Corpbanca by 4.0% in the 2nd quarter. Veriti Management LLC now owns 89,592 shares of the bank worth $254,000 after buying 3,479 additional shares in the last quarter. Northern Trust Corp bought a new position in Itaú Corpbanca during Q1 worth around $40,000. CSS LLC IL bought a new position in Itaú Corpbanca during the 4th quarter, valued at approximately $217,000. Finally, Allianz Asset Management GmbH increased its stake in Itaú Corpbanca by 90.0% during the 4th quarter. Allianz Asset Management GmbH now owns 48,523 shares of the bank valued at $141,000 after acquiring an additional 22,983 shares during the period. Institutional investors hold 0.15% of the company’s shares.

A Wall Street analyst gives his opinion

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Separately, StockNews.com began covering Itaú Corpbanca shares in a research report on Monday, June 6. They issued a “hold” rating on the stock.

Company Profile Itaú Corpbanca

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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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