CIBC Bancorp USA Inc. Makes New $10.50 Million Investment in Nu Holdings Ltd. $NU

Key Points

• CIBC Bancorp USA Inc. bought a new stake of 655,954 shares in Nu Holdings (NYSE:NU) during Q3, valued at approximately $10.50 million.
• Large institutional activity: Jacobs Levy Equity Management added 7,044,248 shares (a 211.2% increase) and now owns 10,379,962 shares (~$166.18M), and hedge funds/institutions collectively hold 84.02% of NU.
• Wall Street is broadly positive on NU with a consensus "Buy" rating and an average price target of $18.26, and the company recently topped estimates with Q EPS of $0.19 (vs. $0.18) and revenue of $4.86B (vs. $4.55B).

CIBC Bancorp USA Inc. bought a new stake in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 655,954 shares of the company's stock, valued at approximately $10,502,000.

Several other hedge funds have also recently modified their holdings of NU. Centaurus Financial Inc. bought a new stake in NU in the third quarter worth $968,000. Campbell Capital Management Inc. lifted its position in NU by 87.5% during the third quarter. Campbell Capital Management Inc. now owns 386,240 shares of the company's stock valued at $6,184,000 after purchasing an additional 180,240 shares during the last quarter. Danske Bank A S bought a new position in NU during the third quarter valued at $13,210,000. Advisory Services Network LLC grew its stake in shares of NU by 2.0% in the 3rd quarter. Advisory Services Network LLC now owns 122,077 shares of the company's stock worth $1,954,000 after buying an additional 2,356 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of NU by 211.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 10,379,962 shares of the company's stock worth $166,183,000 after buying an additional 7,044,248 shares in the last quarter. Hedge funds and other institutional investors own 84.02% of the company's stock.

Wall Street Analysts Forecast Growth

NU has been the topic of several research analyst reports. Susquehanna boosted their price objective on shares of NU from $19.00 to $22.00 and gave the company a "positive" rating in a research report on Tuesday, January 27th. JPMorgan Chase & Co. boosted their price target on NU from $17.00 to $18.00 and gave the company an "overweight" rating in a report on Thursday, November 20th. The Goldman Sachs Group reissued a "buy" rating and issued a $21.00 price objective on shares of NU in a research note on Thursday, December 18th. Santander upgraded NU from a "neutral" rating to an "outperform" rating in a report on Thursday, December 4th. Finally, Weiss Ratings raised NU from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $18.26.

NU Stock Performance

NU opened at $14.16 on Friday. The firm's 50-day moving average price is $16.43 and its 200-day moving average price is $16.19. The company has a market cap of $68.23 billion, a P/E ratio of 24.41, a price-to-earnings-growth ratio of 0.55 and a beta of 1.11. The company has a quick ratio of 0.56, a current ratio of 0.58 and a debt-to-equity ratio of 0.39. Nu Holdings Ltd. has a 52-week low of $9.01 and a 52-week high of $18.98.

NU (NYSE:NU - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.01. The company had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.55 billion. NU had a net margin of 18.19% and a return on equity of 30.68%. As a group, equities analysts anticipate that Nu Holdings Ltd. will post 0.58 EPS for the current fiscal year.

About NU

Nu Holdings Ltd NYSE: NU, commonly known by its consumer brand Nubank, is a Latin American financial technology company that provides digital banking and financial services through a mobile-first platform. The company’s core offerings include no-fee digital checking accounts, credit cards, personal loans, payments and transfers, and a range of savings and investment products. Nubank emphasizes a streamlined customer experience delivered via its smartphone app, combined with data-driven underwriting and automated customer service tools.

Founded in 2013 by David Vélez, Cristina Junqueira and Edward Wible, Nu grew rapidly by targeting underbanked and digitally savvy consumers in Latin America with low-fee, transparent products.

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