M&T Bank Corp Lowers Holdings in Nu Holdings Ltd. (NYSE:NU)

M&T Bank Corp cut its holdings in Nu Holdings Ltd. (NYSE:NU) by 28.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 299,422 shares of the company’s stock after selling 118,045 shares during the period. M&T Bank Corp’s holdings in NU were worth $3,102,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. State Street Corp raised its holdings in shares of NU by 105.9% during the 3rd quarter. State Street Corp now owns 78,865,138 shares of the company’s stock worth $1,076,509,000 after acquiring an additional 40,560,986 shares in the last quarter. Baillie Gifford & Co. raised its holdings in shares of NU by 13.0% during the 3rd quarter. Baillie Gifford & Co. now owns 210,103,451 shares of the company’s stock worth $2,867,912,000 after acquiring an additional 24,140,416 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of NU by 104.3% during the 3rd quarter. Geode Capital Management LLC now owns 32,597,803 shares of the company’s stock worth $442,935,000 after acquiring an additional 16,638,397 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of NU by 458.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,147,349 shares of the company’s stock worth $193,111,000 after acquiring an additional 11,613,191 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of NU by 122.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 16,008,683 shares of the company’s stock worth $165,850,000 after acquiring an additional 8,806,495 shares in the last quarter. 84.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NU. Susquehanna upped their price objective on NU from $16.00 to $18.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Citigroup downgraded NU from a “neutral” rating to a “sell” rating and cut their target price for the company from $14.60 to $11.00 in a research report on Monday, December 2nd. JPMorgan Chase & Co. cut their target price on NU from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Monday, February 24th. KeyCorp boosted their target price on NU from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Finally, Itau BBA Securities downgraded NU from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, NU has an average rating of “Hold” and an average price target of $15.47.

NU Stock Performance

Shares of NU stock opened at $10.83 on Friday. The stock’s fifty day moving average is $11.98 and its two-hundred day moving average is $13.09. The company has a market capitalization of $51.63 billion, a PE ratio of 27.08, a price-to-earnings-growth ratio of 0.48 and a beta of 1.14. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.20. Nu Holdings Ltd. has a 52 week low of $9.67 and a 52 week high of $16.15.

NU (NYSE:NU) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.17 billion. NU had a return on equity of 30.99% and a net margin of 17.12%. As a group, analysts expect that Nu Holdings Ltd. will post 0.58 earnings per share for the current year.

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.