On June 17, Nu Holdings rose 3.18% in regular trading, trading at $13.115/share, with turnover of $79.12 million. The stock continues its rebound trajectory supported by the company's previously announced share repurchase program of up to $1 billion in Class A ordinary shares.
The stock had declined over 12% following news of a CFO change, creating significant oversold conditions. Although Citigroup downgraded the stock from Buy to Neutral on June 15 and cut its price target from $18 to $13, the buyback plan's signal of capital surplus combined with valuation repair demand has driven a sustained recovery. FactSet consensus still shows an average overweight rating with a mean price target of $17.73.
Within the Diversified Banks sector, the overall performance was positive. Among individual stocks, Wells Fargo up 2.01%, Citigroup up 1.83%, Bank of America up 1.54%, JPMorgan Chase up 1.37%, U.S. Bancorp up 0.65%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)