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Itaú CorpBanca

NYSE:ITCB
Snowflake Description

Reasonable growth potential with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ITCB
NYSE
CLP2,818B
Market Cap
  1. Home
  2. US
  3. Banks
Company description

Itaú CorpBanca provides wholesale and retail banking services to large and medium sized companies, individuals, and institutional clients. The last earnings update was 27 days ago. More info.


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ITCB Share Price and Events
7 Day Returns
-1.4%
NYSE:ITCB
-0.5%
US Banks
-1.4%
US Market
1 Year Returns
-21%
NYSE:ITCB
-9.6%
US Banks
1.6%
US Market
ITCB Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Itaú CorpBanca (ITCB) -1.4% -5.3% -15% -21% 1.5% -
US Banks -0.5% -4% -2.7% -9.6% 36.5% 44.7%
US Market -1.4% -3.9% 0.2% 1.6% 33.2% 38.2%
1 Year Return vs Industry and Market
  • ITCB underperformed the Banks industry which returned -9.6% over the past year.
  • ITCB underperformed the Market in United States of America which returned 1.6% over the past year.
Price Volatility
ITCB
Industry
5yr Volatility vs Market

Value

 Is Itaú CorpBanca undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Itaú CorpBanca to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Itaú CorpBanca.

NYSE:ITCB Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 4 analysts.
= Stable Book Value * Return on Equity
= CLP7.41 * 9.8%
CLP0.72
Book Value of Equity per Share Weighted future Book Value estimates from 3 analysts. CLP7.41
Discount Rate (Cost of Equity) See below 14%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:ITCB
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.62
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.62 (1 + (1- 26%) (374.6%))
1.897
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.9
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.897 * 5.96%)
14.04%

Discounted Cash Flow Calculation for NYSE:ITCB using Excess Returns Model Model

The calculations below outline how an intrinsic value for Itaú CorpBanca is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NYSE:ITCB Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (9.8% – 14.04%) * CLP7.41)
CLP-0.32
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CLP-0.32 / (14.04% - 2.73%)
CLP-2.80
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CLP7.41 + CLP-2.80
CLP4.6
NYSE:ITCB Discount to Share Price
Calculation Result
Value per share (USD) From above. $10.31
Current discount Discount to share price of $12.32
= -1 x ($12.32 - $10.31) / $10.31
-19.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Itaú CorpBanca is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Itaú CorpBanca's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Itaú CorpBanca's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:ITCB PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in CLP CLP0.31
SNSE:ITAUCORP Share Price ** SNSE (2019-05-24) in CLP CLP5.5
United States of America Banks Industry PE Ratio Median Figure of 597 Publicly-Listed Banks Companies 12.76x
United States of America Market PE Ratio Median Figure of 3,084 Publicly-Listed Companies 17.44x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Itaú CorpBanca.

NYSE:ITCB PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SNSE:ITAUCORP Share Price ÷ EPS (both in CLP)

= 5.5 ÷ 0.31

17.95x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Itaú CorpBanca is overvalued based on earnings compared to the US Banks industry average.
  • Itaú CorpBanca is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Itaú CorpBanca's expected growth come at a high price?
Raw Data
NYSE:ITCB PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 17.95x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
21.5%per year
United States of America Banks Industry PEG Ratio Median Figure of 270 Publicly-Listed Banks Companies 1.34x
United States of America Market PEG Ratio Median Figure of 2,121 Publicly-Listed Companies 1.51x

*Line of best fit is calculated by linear regression .

NYSE:ITCB PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 17.95x ÷ 21.5%

0.83x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Itaú CorpBanca is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Itaú CorpBanca's assets?
Raw Data
NYSE:ITCB PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in CLP CLP6.51
SNSE:ITAUCORP Share Price * SNSE (2019-05-24) in CLP CLP5.5
United States of America Banks Industry PB Ratio Median Figure of 602 Publicly-Listed Banks Companies 1.2x
United States of America Market PB Ratio Median Figure of 5,207 Publicly-Listed Companies 1.8x
NYSE:ITCB PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SNSE:ITAUCORP Share Price ÷ Book Value per Share (both in CLP)

= 5.5 ÷ 6.51

0.84x

* Primary Listing of Itaú CorpBanca.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Itaú CorpBanca is good value based on assets compared to the US Banks industry average.
X
Value checks
We assess Itaú CorpBanca's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Itaú CorpBanca has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Itaú CorpBanca expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
21.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Itaú CorpBanca expected to grow at an attractive rate?
  • Itaú CorpBanca's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Itaú CorpBanca's earnings growth is expected to exceed the United States of America market average.
  • Itaú CorpBanca's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:ITCB Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:ITCB Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 21.5%
NYSE:ITCB Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 12.4%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 4%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.7%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:ITCB Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in CLP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:ITCB Future Estimates Data
Date (Data in CLP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 1,487,760 297,613 3
2020-12-31 1,367,915 254,901 4
2019-12-31 1,228,838 206,984 4
NYSE:ITCB Past Financials Data
Date (Data in CLP Millions) Revenue Cash Flow Net Income *
2019-03-31 969,890 -307,107 156,823
2018-12-31 975,080 106,318 171,331
2018-09-30 883,298 76,194 126,347
2018-06-30 797,990 741,088 79,497
2018-03-31 769,468 758,143 86,167
2017-12-31 740,002 443,222 67,821
2017-09-30 757,998 231,318 45,767
2017-06-30 792,152 935,744 69,250
2017-03-31 757,156 364,739 33,187
2016-12-31 627,461 451,418 14,911
2016-09-30 542,663 536,038 93,335
2016-06-30 422,674 -618,452 97,730

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Itaú CorpBanca's earnings are expected to grow significantly at over 20% yearly.
  • Itaú CorpBanca's revenue is expected to grow by 12.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:ITCB Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Itaú CorpBanca Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:ITCB Future Estimates Data
Date (Data in CLP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.64 0.68 0.60 2.00
2020-12-31 0.54 0.56 0.52 2.00
2019-12-31 0.40 0.40 0.40 1.00
NYSE:ITCB Past Financials Data
Date (Data in CLP Millions) EPS *
2019-03-31 0.31
2018-12-31 0.33
2018-09-30 0.25
2018-06-30 0.16
2018-03-31 0.17
2017-12-31 0.13
2017-09-30 0.09
2017-06-30 0.14
2017-03-31 0.06
2016-12-31 0.04
2016-09-30 0.28
2016-06-30 0.43

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Itaú CorpBanca is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Itaú CorpBanca's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Itaú CorpBanca has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Itaú CorpBanca performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Itaú CorpBanca's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Itaú CorpBanca's year on year earnings growth rate has been positive over the past 5 years.
  • Itaú CorpBanca's 1-year earnings growth exceeds its 5-year average (82% vs 5.6%)
  • Itaú CorpBanca's earnings growth has exceeded the US Banks industry average in the past year (82% vs 39.5%).
Earnings and Revenue History
Itaú CorpBanca's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Itaú CorpBanca Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:ITCB Past Revenue, Cash Flow and Net Income Data
Date (Data in CLP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 969,890.00 156,823.00 644,389.00
2018-12-31 975,080.00 171,331.00 643,583.00
2018-09-30 883,298.00 126,347.00 628,170.00
2018-06-30 797,990.00 79,497.00 648,701.00
2018-03-31 769,468.00 86,167.00 640,439.00
2017-12-31 740,002.00 67,821.00 632,088.00
2017-09-30 757,998.00 45,767.00 626,151.00
2017-06-30 792,152.00 69,250.00 571,077.00
2017-03-31 757,156.00 33,187.00 587,808.00
2016-12-31 627,461.00 14,911.00 514,527.00
2016-09-30 542,663.00 93,335.00 346,519.00
2016-06-30 422,674.00 97,730.00 264,115.00
2016-03-31 294,462.00 97,906.00 157,459.00
2015-12-31 300,869.00 105,757.00 156,170.00
2015-09-30 272,232.00 80,465.00 159,069.00
2015-06-30 277,514.00 88,929.00 158,962.00
2015-03-31 257,629.00 77,901.00 161,190.00
2014-12-31 257,384.00 85,693.00 152,503.00
2014-09-30 278,217.00 108,809.00 139,414.00
2014-06-30 251,478.00 90,225.00 134,938.00
2014-03-31 251,385.00 91,338.00 131,277.00
2013-12-31 241,821.00 87,723.00 126,471.00
2013-09-30 218,974.00 70,557.00 125,353.00
2013-06-30 211,044.00 65,860.00 122,318.00
2013-03-31 191,346.00 55,786.00 115,658.00
2012-12-31 190,121.00 59,147.00 112,336.00
2012-09-30 185,363.00 57,286.00 108,333.00
2012-06-30 171,682.00 52,340.00 103,670.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Itaú CorpBanca has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Itaú CorpBanca used its assets less efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if Itaú CorpBanca improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Itaú CorpBanca's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Itaú CorpBanca has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Itaú CorpBanca's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Itaú CorpBanca's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Itaú CorpBanca Company Filings, last reported 1 month ago.

NYSE:ITCB Past Debt and Equity Data
Date (Data in CLP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 3,564,279.00 10,557,004.00 3,417,412.00
2018-12-31 3,437,560.00 10,480,759.00 2,921,530.00
2018-09-30 3,528,162.00 9,697,154.00 3,114,581.00
2018-06-30 3,497,546.00 10,433,351.00 3,056,860.00
2018-03-31 3,449,420.00 9,757,946.00 2,912,773.00
2017-12-31 3,428,757.00 9,682,399.00 2,789,975.00
2017-09-30 3,452,075.00 10,080,940.00 2,916,142.00
2017-06-30 3,460,884.00 9,950,776.00 2,923,146.00
2017-03-31 3,434,771.00 9,774,490.00 2,875,981.00
2016-12-31 3,423,712.00 8,946,899.00 3,746,297.00
2016-09-30 3,428,805.00 9,283,212.00 3,739,598.00
2016-06-30 3,449,889.00 8,844,946.00 4,158,382.00
2016-03-31 1,189,470.00 2,577,945.00 550,937.00
2015-12-31 791,441.00 2,473,998.00 608,778.00
2015-09-30 775,282.00 2,274,494.00 546,882.00
2015-06-30 763,072.00 2,156,608.00 613,268.00
2015-03-31 741,341.00 1,981,322.00 658,421.00
2014-12-31 723,912.00 1,959,861.00 745,912.00
2014-09-30 756,041.00 1,910,924.00 572,936.00
2014-06-30 722,637.00 1,774,324.00 534,356.00
2014-03-31 653,041.00 1,783,773.00 492,231.00
2013-12-31 629,790.00 1,574,650.00 375,052.00
2013-09-30 591,853.00 1,430,951.00 332,729.00
2013-06-30 578,723.00 1,414,524.00 417,315.00
2013-03-31 558,944.00 1,370,105.00 413,395.00
2012-12-31 540,175.00 1,232,334.00 220,698.00
2012-09-30 449,894.00 1,037,157.00 237,654.00
2012-06-30 440,414.00 1,001,489.00 279,138.00
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Itaú CorpBanca has an acceptable proportion of non-loan assets held.
  • Itaú CorpBanca's liabilities are made up of primarily low risk sources of funding.
  • Itaú CorpBanca has advanced significantly more loans than the customer deposits it holds (i.e. bank has borrowed additional funds to lend).
  • Itaú CorpBanca's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • Itaú CorpBanca has a low allowance for bad loans.
  • Itaú CorpBanca has a high level of bad loans (greater than 2%).
X
Financial health checks
We assess Itaú CorpBanca's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Itaú CorpBanca has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Itaú CorpBanca's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.83%
Current annual income from Itaú CorpBanca dividends. Estimated to be 2.5% next year.
If you bought $2,000 of Itaú CorpBanca shares you are expected to receive $37 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Itaú CorpBanca's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.47%).
  • Itaú CorpBanca's dividend is below the markets top 25% of dividend payers in United States of America (3.75%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:ITCB Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 477 Stocks 2.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2007 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:ITCB Future Dividends Estimate Data
Date (Data in CLP) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.15 3.00
2020-12-31 0.14 4.00
2019-12-31 0.10 1.00
NYSE:ITCB Past Annualized Dividends Data
Date (Data in CLP) Dividend per share (annual) Avg. Yield (%)
2019-04-29 0.101 1.768
2019-04-03 0.101 1.698
2019-01-11 0.101 1.606
2018-05-03 0.045 0.688
2018-03-02 0.045 0.749
2018-02-28 0.045 0.750
2017-04-13 0.001 0.020
2017-02-28 0.001 0.021
2016-09-02 0.296 5.312

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Itaú CorpBanca has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Itaú CorpBanca has only been paying a dividend for 3 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Itaú CorpBanca's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (4.1x coverage).
X
Income/ dividend checks
We assess Itaú CorpBanca's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Itaú CorpBanca afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Itaú CorpBanca has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Itaú CorpBanca's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Manuel Rossetti
AGE 52
TENURE AS CEO 0.3 years
CEO Bio

Mr. Manuel Olivares Rossetti serves as Chief Executive Officer at Itaú CorpBanca since January 1, 2019. He was General Manager of Banco Bilbao Vizcaya Argentaria, Chile until 2018 and served as its Chief Executive Officer. Mr. Olivares Rossetti serves as Chairman of the Board at Forum Servicios Financieros SA. Mr. Olivares Rossetti serves as a Director of BBVA Financiamiento Automotriz (Forum Servicios Financieros SA).

CEO Compensation
  • Insufficient data for Manuel to compare compensation growth.
  • Insufficient data for Manuel to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Itaú CorpBanca management team in years:

2.3
Average Tenure
44
Average Age
  • The tenure for the Itaú CorpBanca management team is about average.
Management Team

Manuel Rossetti

TITLE
Chief Executive Officer
AGE
52
TENURE
0.3 yrs

Gabriel de Moura

TITLE
CFO & Corporate Finance Manager
AGE
42
TENURE
3.1 yrs

Jorge Neto

TITLE
Corporate Director of Operations
AGE
40
TENURE
1.1 yrs

Jonathan Hernández

TITLE
Chief Accounting Officer

Claudia Montevecchi

TITLE
Head of Investor Relations

Felipe Campos

TITLE
Chief Compliance Officer
AGE
43
TENURE
3.1 yrs

Cristián Cañas

TITLE
General Counsel
AGE
47
TENURE
2.9 yrs

Sven Riehl

TITLE
Chief Compliance Officer & Head of all Non-Financial Risks
AGE
49
TENURE
1.8 yrs

Luciana Marchione

TITLE
Corporate Director of Marketing & Products
AGE
45
TENURE
0.3 yrs

Marcela Jiménez Pardo

TITLE
Corporate Director of Human Resources
AGE
43
TENURE
3.1 yrs
Board of Directors Tenure

Average tenure and age of the Itaú CorpBanca board of directors in years:

3.1
Average Tenure
58.5
Average Age
  • The tenure for the Itaú CorpBanca board of directors is about average.
Board of Directors

Jorge Saieh Guzmán

TITLE
Chairman of the Board
AGE
47
TENURE
7.3 yrs

Ricardo Marino

TITLE
Vice Chairman of the Board
AGE
44
TENURE
3.1 yrs

Andrés Cepeda

TITLE
Director
AGE
54
TENURE
2.3 yrs

Pedro Escandar

TITLE
Director
AGE
67
TENURE
2.7 yrs

Milton Filho

TITLE
Director
AGE
41
TENURE
0.3 yrs

Gustavo Arriagada Morales

TITLE
Director
AGE
64
TENURE
8.7 yrs

Fernando Aguad Dagach

TITLE
Director
AGE
58
TENURE
22.9 yrs

Bernard Pasquier

TITLE
Director
AGE
64
TENURE
2 yrs

Jorge Selume Zaror

TITLE
Director
AGE
66
TENURE
18 yrs

Fernando Ureta

TITLE
Director
AGE
59
TENURE
3.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Itaú CorpBanca's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Itaú CorpBanca has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Itaú CorpBanca provides wholesale and retail banking services to large and medium sized companies, individuals, and institutional clients. The company offers checking and savings accounts, as well as demand and time deposits, and bankers’ drafts; and provides commercial, mortgage, consumer, and contingent loans. It also offers financial advisory, mutual fund management, insurance brokerage, and securities brokerage services; treasury services; asset management services; trust portfolio management services, including investment trust management, administration, security, real estate trusts, and fund administration; court and out-of-court collections services for loans; and Internet and mobile banking services. The company has operations in Chile, Colombia, and Panama, as well as has a branch in New York and representative offices in Madrid and Lima. Itaú CorpBanca was founded in 1871 and is headquartered in Santiago, Chile.

Details
Name: Itaú CorpBanca
ITCB
Exchange: NYSE
Founded: 1871
CLP4,056,885,444
512,406,760,091
Website: http://www.itau.cl
Address: Itaú CorpBanca
Rosario Norte 660,
Las Condes,
Santiago,
Region Metropolitana (Santiago), Chile
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SNSE ITAUCORP Common Shares Santiago Stock Exchange CL CLP 02. Apr 2016
NYSE ITCB SPONSORED ADR New York Stock Exchange US USD 02. Apr 2016
Number of employees
Current staff
Staff numbers
9,042
Itaú CorpBanca employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/26 00:49
End of day share price update: 2019/05/24 00:00
Last estimates confirmation: 2019/05/01
Last earnings filing: 2019/04/29
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.