Itau Corpbanca said on April 6, 2023 that its board of directors declared a regular annual dividend of $0.25 per share. Previously, the company paid $0.17 per share.
Shares must be purchased before the ex-div date of April 18, 2023 to qualify for the dividend. Shareholders of record as of April 19, 2023 will receive the payment on May 5, 2023.
At the current share price of $3.38 / share, the stock's dividend yield is 7.27%. Looking back five years and taking a sample every week, the average dividend yield has been 2.25%, the lowest has been 0.74%, and the highest has been 4.10%. The standard deviation of yields is 1.10 (n=237).
The current dividend yield is 4.55 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.25. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 25 funds or institutions reporting positions in Itau Corpbanca. This is an increase of 3 owner(s) or 13.64% in the last quarter. Average portfolio weight of all funds dedicated to ITCB is 0.01%, an increase of 0.15%. Total shares owned by institutions decreased in the last three months by 7.27% to 642K shares.
Analyst Price Forecast Suggests 5.34% Upside
As of April 6, 2023, the average one-year price target for Itau Corpbanca is $3.56. The forecasts range from a low of $3.52 to a high of $3.67. The average price target represents an increase of 5.34% from its latest reported closing price of $3.38.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Itau Corpbanca is $1,521,246MM, an increase of 31.93%. The projected annual non-GAAP EPS is $0.36.
What are Other Shareholders Doing?
Bnp Paribas Arbitrage holds 0K shares representing 0.00% ownership of the company.
Comerica Bank holds 10K shares representing 0.00% ownership of the company. No change in the last quarter.
Dimensional Fund Advisors holds 71K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 86K shares, representing a decrease of 20.99%. The firm decreased its portfolio allocation in ITCB by 27.72% over the last quarter.
BlackRock holds 12K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 12K shares, representing an increase of 0.01%. The firm decreased its portfolio allocation in ITCB by 99.90% over the last quarter.
DFA INVESTMENT DIMENSIONS GROUP INC - Emerging Markets Sustainability Core 1 Portfolio Institutional Class holds 0K shares representing 0.00% ownership of the company. No change in the last quarter.
Itau Corpbanca Background Information
(This description is provided by the company.)
ITAÚ CORPBANCA is the entity resulting from the merger of Banco Itaú Chile with and into Corpbanca on April 1, 2016. The current ownership structure is: 39.22% owned by Itaú Unibanco, 27.16% owned by the Saieh Family and 33.29% owned by minority shareholders. Itaú Unibanco is the sole controlling shareholder of the merged bank. Within this context and without limiting the above, Itaú Unibanco and CorpGroup have signed a shareholders' agreement relating to corporate governance, dividend policy (based on performance and capital metrics), transfer of shares, liquidity and other matters.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
