Synovus Financial Corp Acquires New Holdings in Nu Holdings Ltd. $NU

Key Points

• Synovus Financial Corp purchased a new stake in Nu Holdings Ltd., acquiring 74,183 shares valued at approximately $760,000 in the first quarter.
• Institutional investors currently own 84.02% of Nu Holdings' stock, with several firms significantly increasing their positions in the fourth quarter.
• Nu Holdings reported $0.14 earnings per share for the last quarter, surpassing analysts' estimates and indicating continued growth in their financial performance.

Synovus Financial Corp acquired a new stake in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 74,183 shares of the company's stock, valued at approximately $760,000.

Other hedge funds also recently bought and sold shares of the company. NBC Securities Inc. boosted its position 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 acquiring an additional 2,860 shares during the period. Capital Analysts LLC purchased a new position in NU during the 1st quarter valued at about $31,000. TFC Financial Management Inc. grew its stake in NU by 74.1% during the 1st quarter. TFC Financial Management Inc. now owns 3,114 shares of the company's stock valued at $32,000 after acquiring an additional 1,325 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in NU by 51.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 3,815 shares of the company's stock valued at $39,000 after acquiring an additional 1,295 shares in the last quarter. Finally, Richards Merrill & Peterson Inc. grew its stake in NU by 43.6% during the 1st quarter. Richards Merrill & Peterson Inc. now owns 4,115 shares of the company's stock valued at $42,000 after acquiring an additional 1,250 shares in the last quarter. 84.02% of the stock is owned by hedge funds and other institutional investors.

NU Stock Up 0.2%

Shares of NU traded up $0.04 during midday trading on Friday, reaching $14.81. 37,347,665 shares of the stock were exchanged, compared to its average volume of 54,728,864. Nu Holdings Ltd. has a 12-month low of $9.01 and a 12-month high of $16.15. The firm has a 50 day simple moving average of $13.14 and a 200-day simple moving average of $12.20. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.24. The company has a market cap of $71.34 billion, a price-to-earnings ratio of 29.60, a P/E/G ratio of 0.78 and a beta of 1.05.

NU (NYSE:NU - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The company reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. NU had a return on equity of 29.91% and a net margin of 17.90%.The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same period last year, the business earned $0.12 EPS. Research analysts forecast that Nu Holdings Ltd. will post 0.58 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on NU shares. Bank of America lifted their target price on NU from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Monday, August 25th. Itau BBA Securities raised NU from a "market perform" rating to an "outperform" rating and set a $18.00 target price on the stock in a research note on Monday, August 18th. Susquehanna lifted their target price on NU from $15.00 to $17.00 and gave the company a "positive" rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their target price on NU from $14.50 to $16.00 and gave the company an "overweight" rating in a research note on Monday, June 30th. Finally, Citigroup raised NU from a "sell" rating to a "buy" rating and lifted their target price for the company from $9.00 to $18.00 in a research note on Wednesday, August 20th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $16.90.

About NU

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.