Central Pacific Bank Trust Division Buys 1,833 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Central Pacific Bank Trust Division boosted its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 325.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,397 shares of the financial services provider's stock after acquiring an additional 1,833 shares during the quarter. Central Pacific Bank Trust Division's holdings in LPL Financial were worth $784,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in LPLA. Anchor Investment Management LLC lifted its holdings in shares of LPL Financial by 0.3% during the fourth quarter. Anchor Investment Management LLC now owns 9,697 shares of the financial services provider's stock worth $3,166,000 after purchasing an additional 28 shares during the period. Colonial Trust Co SC increased its holdings in LPL Financial by 6.1% in the fourth quarter. Colonial Trust Co SC now owns 505 shares of the financial services provider's stock valued at $165,000 after purchasing an additional 29 shares during the period. Wealth Alliance raised its position in LPL Financial by 2.1% during the 4th quarter. Wealth Alliance now owns 1,483 shares of the financial services provider's stock worth $484,000 after purchasing an additional 30 shares during the last quarter. United Capital Financial Advisors LLC raised its position in LPL Financial by 2.6% during the 4th quarter. United Capital Financial Advisors LLC now owns 1,203 shares of the financial services provider's stock worth $393,000 after purchasing an additional 31 shares during the last quarter. Finally, Sanchez Wealth Management Group lifted its holdings in LPL Financial by 2.1% during the 4th quarter. Sanchez Wealth Management Group now owns 1,686 shares of the financial services provider's stock worth $551,000 after buying an additional 35 shares during the period. 95.66% of the stock is owned by institutional investors.

LPL Financial Stock Down 0.9%

LPL Financial stock traded down $3.31 during midday trading on Wednesday, reaching $382.70. The stock had a trading volume of 154,012 shares, compared to its average volume of 834,766. The company has a fifty day moving average price of $338.44 and a two-hundred day moving average price of $340.16. The company has a market capitalization of $30.61 billion, a P/E ratio of 27.26, a PEG ratio of 0.94 and a beta of 0.65. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $390.23.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The financial services provider reported $5.15 EPS for the quarter, beating the consensus estimate of $4.54 by $0.61. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the previous year, the company posted $3.83 earnings per share. The company's quarterly revenue was up 4.5% on a year-over-year basis. As a group, equities analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date is Friday, May 30th. LPL Financial's dividend payout ratio is currently 8.30%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company decreased their price target on LPL Financial from $405.00 to $342.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Morgan Stanley increased their target price on shares of LPL Financial from $330.00 to $450.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Barclays raised their price target on shares of LPL Financial from $365.00 to $400.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Citigroup reduced their price objective on shares of LPL Financial from $415.00 to $400.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Finally, Wall Street Zen raised shares of LPL Financial from a "hold" rating to a "buy" rating in a research note on Thursday, May 29th. Thirteen analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $377.50.

About LPL Financial

LPL Financial Holdings Inc, together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.