First Hawaiian Bank Sells 811 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

First Hawaiian Bank decreased its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 15.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,482 shares of the financial services provider's stock after selling 811 shares during the period. First Hawaiian Bank's holdings in LPL Financial were worth $1,466,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Truist Financial Corp increased its holdings in LPL Financial by 7.9% during the 4th quarter. Truist Financial Corp now owns 192,153 shares of the financial services provider's stock worth $62,740,000 after purchasing an additional 14,106 shares during the last quarter. Bank of Montreal Can increased its position in shares of LPL Financial by 46.9% in the 4th quarter. Bank of Montreal Can now owns 59,910 shares of the financial services provider's stock worth $19,561,000 after purchasing an additional 19,126 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of LPL Financial by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 335,749 shares of the financial services provider's stock valued at $109,625,000 after purchasing an additional 13,936 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of LPL Financial by 27.6% during the third quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider's stock worth $296,635,000 after purchasing an additional 276,166 shares during the last quarter. Finally, Dynasty Wealth Management LLC increased its holdings in LPL Financial by 58.8% in the fourth quarter. Dynasty Wealth Management LLC now owns 6,165 shares of the financial services provider's stock valued at $2,013,000 after buying an additional 2,283 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company's stock.

Analysts Set New Price Targets

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

LPL Financial Stock Performance

LPL Financial stock traded down $3.31 on Wednesday, reaching $382.70. 154,012 shares of the stock were exchanged, compared to its average volume of 834,766. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The stock has a market cap of $30.61 billion, a PE ratio of 27.26, a PEG ratio of 0.94 and a beta of 0.65. The firm has a fifty day moving average price of $338.44 and a two-hundred day moving average price of $340.16. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $390.23.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The financial services provider reported $5.15 earnings per share for the quarter, topping the consensus estimate of $4.54 by $0.61. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. The firm had revenue of $3.67 billion for the quarter, compared to analysts' expectations of $3.63 billion. During the same period in the prior year, the firm earned $3.83 earnings per share. The company's quarterly revenue was up 4.5% compared to the same quarter last year. Sell-side analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

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

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.