National Bank of Canada FI Increases Position in Nu Holdings Ltd. (NYSE:NU)

Key Points

• National Bank of Canada FI increased its holdings in Nu Holdings Ltd. by 10.4% in Q1, owning 726,110 shares now valued at approximately $7.43 million.
• Research firms have shown a positive outlook for Nu Holdings, with multiple analysts upgrading their target prices, including JPMorgan Chase raising it from $14.50 to $16.00.
• Nu Holdings recently reported earnings of $0.11 per share, slightly missing analyst estimates, despite a revenue of $3.25 billion which surpassed expectations.

National Bank of Canada FI lifted its holdings in Nu Holdings Ltd. (NYSE:NU - Free Report) by 10.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 726,110 shares of the company's stock after buying an additional 68,121 shares during the quarter. National Bank of Canada FI's holdings in NU were worth $7,434,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. NBC Securities Inc. increased its holdings in NU by 286,000.0% during the 1st quarter. NBC Securities Inc. now owns 2,861 shares of the company's stock worth $29,000 after purchasing an additional 2,860 shares during the period. TFC Financial Management Inc. increased its holdings in NU by 74.1% during the 1st quarter. TFC Financial Management Inc. now owns 3,114 shares of the company's stock worth $32,000 after purchasing an additional 1,325 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in NU by 51.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 3,815 shares of the company's stock worth $39,000 after purchasing an additional 1,295 shares during the period. Richards Merrill & Peterson Inc. increased its holdings in NU by 43.6% during the 1st quarter. Richards Merrill & Peterson Inc. now owns 4,115 shares of the company's stock worth $42,000 after purchasing an additional 1,250 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in NU by 128.7% during the 1st quarter. Farther Finance Advisors LLC now owns 4,250 shares of the company's stock worth $44,000 after purchasing an additional 2,392 shares during the period. 84.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on NU shares. Barclays lifted their price target on NU from $15.00 to $16.00 and gave the company an "overweight" rating in a report on Friday, April 25th. JPMorgan Chase & Co. lifted their price target on NU from $14.50 to $16.00 and gave the company an "overweight" rating in a report on Monday, June 30th. Morgan Stanley reiterated an "overweight" rating on shares of NU in a report on Friday, June 13th. Finally, Susquehanna lifted their price target on NU from $14.00 to $15.00 and gave the company a "positive" rating in a report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, NU presently has an average rating of "Moderate Buy" and an average price target of $15.50.

NU Stock Performance

NU traded up $1.07 on Friday, reaching $13.08. 130,466,648 shares of the stock were exchanged, compared to its average volume of 43,311,320. The company's 50-day moving average price is $12.76 and its 200 day moving average price is $12.16. Nu Holdings Ltd. has a fifty-two week low of $9.01 and a fifty-two week high of $16.15. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a market capitalization of $63.03 billion, a PE ratio of 28.44, a PEG ratio of 0.74 and a beta of 1.05.

NU (NYSE:NU - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. NU had a return on equity of 31.42% and a net margin of 17.90%. The company had revenue of $3.70 billion during the quarter, compared to analysts' expectations of $3.78 billion. During the same quarter in the previous year, the firm posted $0.12 EPS. As a group, sell-side analysts forecast that Nu Holdings Ltd. will post 0.58 EPS for the current fiscal year.

NU Profile

Nu Holdings Ltd. is a holding company, which engages in the provision of digital banking services. The company was founded by David Vélez Osorno, Cristina Helena Zingaretti Junqueira, and Adam Edward Wible on February 26, 2016 and is headquartered in George Town, Cayman Islands.