Nomura (NYSE:NMR) Raised to “Buy” at Bank of America

Nomura (NYSE:NMR) was upgraded by equities researchers at Bank of America from a “neutral” rating to a “buy” rating in a research note issued on Thursday, Marketbeat Ratings reports. The brokerage presently has a $10.20 target price on the financial services provider’s stock. Bank of America‘s price target would suggest a potential upside of 18.12% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Nomura upgraded Nomura to a “buy” rating and set a $10.20 price objective for the company in a research note on Thursday. JPMorgan Chase & Co. upgraded shares of Nomura from a “neutral” rating to an “overweight” rating in a report on Thursday, March 19th. Finally, Weiss Ratings lowered shares of Nomura from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $10.20.

Nomura Stock Performance

Shares of NYSE:NMR opened at $8.63 on Thursday. The company has a market capitalization of $25.33 billion, a price-to-earnings ratio of 10.79, a price-to-earnings-growth ratio of 5.13 and a beta of 0.70. Nomura has a 52 week low of $6.17 and a 52 week high of $9.58. The company has a quick ratio of 1.13, a current ratio of 1.08 and a debt-to-equity ratio of 7.38. The firm has a 50 day moving average of $8.32 and a 200 day moving average of $8.44.

Nomura (NYSE:NMR) last posted its earnings results on Friday, April 24th. The financial services provider reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.05). Nomura had a return on equity of 9.70% and a net margin of 7.64%.The company had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.43 billion. On average, sell-side analysts predict that Nomura will post 0.78 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NMR. AlphaCore Capital LLC grew its holdings in Nomura by 511.7% during the third quarter. AlphaCore Capital LLC now owns 144,264 shares of the financial services provider’s stock worth $1,049,000 after acquiring an additional 120,680 shares during the period. JPMorgan Chase & Co. lifted its stake in Nomura by 37.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 236,717 shares of the financial services provider’s stock valued at $1,721,000 after buying an additional 63,994 shares in the last quarter. Integrated Quantitative Investments LLC purchased a new stake in shares of Nomura during the third quarter worth approximately $768,000. M&T Bank Corp raised its position in shares of Nomura by 254.7% in the fourth quarter. M&T Bank Corp now owns 126,114 shares of the financial services provider’s stock valued at $1,058,000 after buying an additional 90,559 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in Nomura by 32.4% in the 4th quarter. Fisher Asset Management LLC now owns 13,151,514 shares of the financial services provider’s stock valued at $110,341,000 after acquiring an additional 3,221,008 shares during the last quarter. Hedge funds and other institutional investors own 15.14% of the company’s stock.

About Nomura

Nomura Holdings, Inc is a global financial services group headquartered in Tokyo, Japan, with origins dating back to 1925 when Tokushichi Nomura II established the firm as a securities business. Over the decades Nomura has grown from a domestic securities house into a multinational financial services firm by expanding its product offerings and international footprint. The company is publicly listed and operates through a network of subsidiaries and branches to serve a broad client base.

Nomura’s principal businesses encompass retail brokerage, wholesale (investment banking and global markets), and asset management.