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LPL Finl Hldgs

LPL Financial Holdings is an independent broker/dealer that provides a platform of proprietary technology, brokerage, and investment advisory services to financial advisors and institutions. As of the end of June 2024, the company had over 23,000 advisors on its platform managing $1.5 trillion of client assets. The company doesn't have material operations outside of the United States.

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Financial stocks are basking in a post-election rally after Donald Trump's election win as investors anticipate a friendlier regulatory landscape for banks, brokers and<a href="https://www.benzinga.com/markets"> consumer finance companies</a>.
With expectations of deregulation and possible tax cuts, traders are piling into financials at levels not seen in years.
The Financials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) jumped over 5% last week, hitting fresh record highs, while weekly inflows surged to $1.573 billion—the highest in over two years. 
Regional banks, in particular, were on fire, with the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) skyrocketing nearly 11% and seeing $1.09 billion in inflows, marking its largest influx of money since March 2023.
<h3 class="wp-block-heading">Key Drivers: Deregulation, Tax Cuts Fuel Investor Optimism</h3>
Investors are betting on a wave of Trump-favored financial reforms that could benefit the sector. 
Richard Ramsden, a Goldman Sachs analyst, highlighted that "the market is pricing in the potential for changes to a number of proposed regulations, a step up in capital markets activity, as well as the potential for a reduction in the corporate tax rate."
Potential regulatory changes under Trump could include:
<ol>
<li>401K Reform: Opening up retirement plans to private investments could attract a flood of new capital.</li>
<li>Relaxed Antitrust Regulations: A more lenient antitrust stance may spark increased mergers and acquisitions (M&amp;A) activity.</li>
<li>Reduced SEC Oversight: There is limited clarity on whether the SEC will continue probing brokers' sweep pricing practices.</li>
<li>Crypto-Friendly Policies: Financial firms with crypto exposure may benefit from a more favorable regulatory environment and higher digital asset prices.</li>
</ol>
<h3 class="wp-block-heading">Goldman Sachs's Top Picks Among Financials Stocks</h3>
In anticipation of these shifts, Ramsden and his team have identified several top picks across the financial sector. 
Here's where they see the biggest potential gains:
<ul>
<li>Large Banks: Citigroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), and Wells Fargo &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>).</li>
<li>Consumer Finance: Bread Financial Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BFH#NYSE">BFH</a>), Synchrony Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYF#NYSE">SYF</a>), and Capital One Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>).</li>
<li>Capital Markets: Blackstone Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>), Apollo Global Management Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>), KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), LPL Financial Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPLA#NASDAQ">LPLA</a>), Tradeweb Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TW#NASDAQ">TW</a>), Evercore Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVR#NYSE">EVR</a>), and PJT Partners Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PJT#NYSE">PJT</a>).</li>
</ul>
<h3 class="wp-block-heading">Steeper Yield Curve Expected to Boost Regional Banks</h3>
As markets react to potential economic stimulus and reduced regulatory pressure, analysts anticipate a steeper yield curve, which could be a windfall for banks with heavy exposure to fixed-rate assets. 
Around 60% of both regional and large banks' balance sheets consist of fixed-rate holdings, positioning them to profit as long-term rates rise.
Ramsden's picks for banks that stand to gain the most from a steeper yield curve include:
Regional Banks: 
<ul>
<li>Citizens Financial Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFG#NYSE">CFG</a>)</li>
<li>Comerica Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>)</li>
<li>First Hawaiian Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FHB#NASDAQ">FHB</a>)</li>
<li>Zions Bancorporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZION#NASDAQ">ZION</a>)</li>
<li>Truist Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>)</li>
<li>Huntington Bancshares Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HBAN#NASDAQ">HBAN</a>)</li>
<li>Regions Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RF#NYSE">RF</a>)</li>
<li>PNC Financial Services Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNC#NYSE">PNC</a>)</li>
<li>Ally Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>).</li>
</ul>
<h3 class="wp-block-heading">Surge in Capital Velocity: M&amp;A and Trading Boost Expected</h3>
Trump's pro-business stance is also expected to accelerate capital velocity in the M&amp;A and equity capital markets, providing a strong backdrop for trading activity. 
According to Ramsden, large banks like Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) could be the biggest beneficiaries, while among regional banks,&nbsp;KeyCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEY#NYSE">KEY</a>)&nbsp;and&nbsp;Citizens Financial Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFG#NYSE">CFG</a>)&nbsp;stand out.
Investment banks could also see a boost, with&nbsp;Jefferies Financial Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JEF#NYSE">JEF</a>),&nbsp;Moelis &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MC#NYSE">MC</a>),&nbsp;PJT Partners Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PJT#NYSE">PJT</a>), and&nbsp;Piper Sandler Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PIPR#NYSE">PIPR</a>)&nbsp;positioned to capitalize on a more active M&amp;A market. 
In the alternative asset management space,&nbsp;Carlyle Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CG#NASDAQ">CG</a>),&nbsp;KKR,&nbsp;Apollo,&nbsp;TPG Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TPG#NASDAQ">TPG</a>), and&nbsp;Ares Management Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARES#NYSE">ARES</a>)&nbsp;are expected to benefit from an uptick in private equity deal flow.
<h3 class="wp-block-heading">Tax Cut Hopes Could Supercharge Regional Banks</h3>
Financial stocks are uniquely positioned to benefit from any corporate tax reductions, given that 90% of their earnings come from the U.S. and are currently taxed at an average rate of 23%. After the 2017 tax reform slashed the corporate tax rate from 35% to 21%, financials saw their effective tax rate drop by 10 percentage points.
Ramsden estimates that if the Trump administration pursues another tax cut, regional banks would likely see the most significant upside. 
His top tax-cut beneficiaries include&nbsp;Moelis &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MC#NYSE">MC</a>),&nbsp;American Express Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>),&nbsp;Evercore Inc.,&nbsp;Bread Financial Holdings,&nbsp;Piper Sandler,&nbsp;First Citizens BancShares Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>),&nbsp;Synovus Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNV#NYSE">SNV</a>), and&nbsp;Western Alliance Bancorporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>).
<h3 class="wp-block-heading">Insurers to Benefit from Steeper Curve, P&amp;C Pricing Power</h3>
The insurance sector may also stand to gain under Trump's pro-business policies. Ramsden expects potential increases in claim costs but sees positive momentum for property and casualty pricing.
Insurers with substantial U.S. exposure and a favorable position on the yield curve could see tailwinds.
Ramsden's picks in the insurance space include&nbsp;W.R. Berkley Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WRB#NYSE">WRB</a>),&nbsp;Hartford Financial Services Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIG#NYSE">HIG</a>), and&nbsp;The Travelers Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>), which he believes are better positioned than brokers to benefit from these trends.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/global/24/11/41857487/exclusive-trump-victory-triggers-reshoring-rally-as-supply-chain-security-outweighs-cost">EXCLUSIVE: Trump Victory Triggers &#8216;Reshoring&#8217; Rally As Supply Chain Security Outweighs Cost</a></li>
</ul>
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Trump Trade Sparks Biggest Financial Stock Inflows In 2 Years

Financial stocks have surged ahead of tech in year-to-date performance, fueled by a Trump-led rally on Wednesday that lifted banks and brokers amid investor expectations of a <a href="https://www.benzinga.com/topic/donald-trump">deregulation-friendly political landscape ahead.</a>
The Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) has risen by 30% in 2024, outpacing the Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>), which is up 26% this year. 
Small and mid-sized banks, tracked by the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), have also seen strong performance, with a 13% jump following election results, bringing them in line with tech sector gains. 
Financial stocks, which have lagged behind technology for six of the past seven years, are now catching up, propelled by renewed optimism for deregulation and M&amp;A activities.
<h1 class="wp-block-heading">Analysts Expect M&amp;A Activity to Heat Up</h1>
With the Trump administration&#8217;s return to the White House, analysts are projecting a significant uptick in mergers and acquisitions (M&amp;A) in the financial sector.
&#8220;Under the upcoming Trump II administration, we expect a more favorable backdrop for M&amp;A which could lead to additional activity in the space after having been quiet for the past few years,&#8221; said Anthony Elian, CFA, analyst at JPMorgan.
Lower regulatory barriers could pave the way for consolidation among smaller banks, while larger financial institutions are expected to benefit from a more active capital markets environment. 
Read also: <a href="https://www.benzinga.com/etfs/sector-etfs/24/11/41788181/regional-bank-stocks-notch-strongest-day-in-4-years-why-analysts-expect-several-tailwinds-from-t">Regional Bank Stocks Notch Strongest Day In 4 Years: Why Analysts Expect &#8216;Several Tailwinds&#8217; From Trump Policies</a>
<h1 class="wp-block-heading">A Lighter Regulatory Touch Boosts FinTech and Digital Assets</h1>
Devin Ryan, analyst at Citizens JMP Securities, highlighted that a Trump-led "sweep of Congress" could significantly ease regulatory pressures for the broader financial and fintech sectors.
&#8220;The &#8216;Trump Trade&#8217; had already been underway in the market in recent weeks, but the resounding presidential win, and perhaps more importantly, likely sweep of Congress, is adding fuel to the fire in stock moves,&#8221; Ryan explained.
For fintech firms, this shift could relieve recent regulatory scrutiny, particularly in areas such as connectivity with traditional banks and practices overseen by the Consumer Financial Protection Bureau (CFPB). Companies involved in digital assets stand to benefit even more, as regulatory clarity would open the door for new market entrants and increase industry participation.
"Digital assets could arguably be the biggest winner of them all," said Ryan, who sees sentiment in the space "improving materially from here." 
Ryan indicates the political climate has shifted to one more favorable for cryptocurrencies, as policymakers begin to recognize the economic and electoral weight of pro-crypto sentiment.
The expert is particularly bullish on several key players in the financial sector. 
Among asset managers and retail brokers poised to capitalize on the deregulation wave, Citizens JMP Securities&#8217; top picks are:
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Company</th>
<th>Price Target</th>
<th>Sector</th>
</tr>
</thead>
<tbody>
<tr>
<td>Perella Weinberg Partners (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PWP#NASDAQ">PWP</a>)</td>
<td> $26</td>
<td> Investment Banking</td>
</tr>
<tr>
<td>Blue Owl Capital Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OWL#NYSE">OWL</a>)</td>
<td> $25</td>
<td> Alternative Asset Mgmt</td>
</tr>
<tr>
<td>Carlyle Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CG#NASDAQ">CG</a>)</td>
<td> $60</td>
<td> Private Equity</td>
</tr>
<tr>
<td>LPL Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPLA#NASDAQ">LPLA</a>)</td>
<td>$310</td>
<td> Wealth Management</td>
</tr>
<tr>
<td>Charles Schwab Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>)</td>
<td> $84</td>
<td> Retail Brokerage</td>
</tr>
</tbody>
</table>
</figure>
In fintech, Ryan sees considerable upside for digital asset players and platforms with a strong foothold in crypto and private markets. His top picks include:
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Company</th>
<th>Price Target</th>
<th>Key Segment</th>
</tr>
</thead>
<tbody>
<tr>
<td>Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>)</td>
<td> $33</td>
<td> Retail Brokerage, Crypto</td>
</tr>
<tr>
<td>Forge Global Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FRGE#NYSE">FRGE</a>)</td>
<td> $7</td>
<td> Private Markets</td>
</tr>
<tr>
<td>Dave Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAVE#NASDAQ">DAVE</a>)</td>
<td> $75</td>
<td> FinTech, Consumer Finance</td>
</tr>
<tr>
<td>Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>)</td>
<td> $320</td>
<td> Crypto Exchange</td>
</tr>
</tbody>
</table>
</figure>
According to Ryan, Robinhood is expected to expand its crypto offerings, potentially enhancing customer engagement, while Forge Global is poised to gain from rising sentiment in private markets.
Coinbase, the largest U.S. cryptocurrency exchange, stands to benefit from clearer regulatory guidelines and the growing acceptance of crypto assets.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41807254/trump-election-raises-odds-of-roaring-2020s-scenario-veteran-wall-street-investor-s">Trump Election Raises Odds Of &#8216;Roaring 2020s Scenario,&#8217; Veteran Wall Street Investor Says: How High Could US Stock Market Rise?</a></li>
</ul>
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9 Stocks To Watch As Bank Stocks Blow Past Tech Names In 2024: Thank The 'Trump Trade'

Goldman Sachs analyst Alexander Blostein maintains LPL Finl Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPLA#NASDAQ">LPLA</a>) with a Buy and raises the price target from $271 to $305.

Goldman Sachs Maintains Buy on LPL Finl Hldgs, Raises Price Target to $305

Citigroup analyst Christopher Allen maintains LPL Finl Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPLA#NASDAQ">LPLA</a>) with a Buy and raises the price target from $285 to $310.

Citigroup Maintains Buy on LPL Finl Hldgs, Raises Price Target to $310

Barclays analyst Benjamin Budish maintains LPL Finl Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPLA#NASDAQ">LPLA</a>) with a Overweight and raises the price target from $273 to $311.

Barclays Maintains Overweight on LPL Finl Hldgs, Raises Price Target to $311

TD Cowen analyst Bill Kirk maintains LPL Finl Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPLA#NASDAQ">LPLA</a>) with a Hold and raises the price target from $271 to $277.

TD Cowen Maintains Hold on LPL Finl Hldgs, Raises Price Target to $277

WIIM

LPL Financial shares are trading higher after the company reported better-than-expected Q3 financial results.

LPL Finl Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPLA#NASDAQ">LPLA</a>) reported quarterly earnings of $4.16 per share which beat the analyst consensus estimate of $3.71 by 12.13 percent. This is a 11.23 percent increase over earnings of $3.74 per share from the same period last year. The company reported quarterly sales of $3.108 billion which beat the analyst consensus estimate of $3.045 billion by 2.07 percent. This is a 23.22 percent increase over sales of $2.522 billion the same period last year.

Earnings

Earnings Beats

LPL Finl Hldgs Q3 2024 Adj. EPS $4.16 Beats $3.71 Estimate, Sales $3.108B Beat $3.045B Estimate

In addition, the Board named Matt Audette as President and Chief Financial Officer, expanding his previous role as Chief Financial Officer and Head of Business Operations. The appointments are effective immediately.&nbsp;&nbsp;

Management

LPL Financial Board Confirms Rich Steinmeier As CEO; Steinmeier, Who Had Been Interim CEO Since October 1, Was Also Elected To Board

Morgan Stanley analyst Michael Cyprys maintains LPL Finl Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPLA#NASDAQ">LPLA</a>) with a Overweight and raises the price target from $303 to $309.

Morgan Stanley Maintains Overweight on LPL Finl Hldgs, Raises Price Target to $309

JMP Securities analyst Devin Ryan reiterates LPL Finl Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPLA#NASDAQ">LPLA</a>) with a Market Outperform and maintains $310 price target.

Reiteration

JMP Securities Reiterates Market Outperform on LPL Finl Hldgs, Maintains $310 Price Target

Wells Fargo analyst Michael Brown upgrades LPL Finl Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPLA#NASDAQ">LPLA</a>) from Equal-Weight to Overweight and raises the price target from $235 to $285.

Upgrades

Wells Fargo Upgrades LPL Finl Hldgs to Overweight, Raises Price Target to $285

UBS analyst Brennan Hawken maintains LPL Finl Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPLA#NASDAQ">LPLA</a>) with a Neutral and raises the price target from $215 to $250.

UBS Maintains Neutral on LPL Finl Hldgs, Raises Price Target to $250

LPL Finl Hldgs's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LPLA#NYSE">LPLA</a>) short percent of float has fallen 6.45% since its last report. The company recently reported that it has 1.29 million shares sold short, which is 1.74% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.81 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>LPL Finl Hldgs Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728067514_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for LPL Finl Hldgs has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing LPL Finl Hldgs's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, LPL Finl Hldgs's peer group average for short interest as a percentage of float is 3.39%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

(LPLA) - Analyzing LPL Finl Hldgs's Short Interest

During the last three months, 15 analysts shared their evaluations of LPL Finl Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPLA#NASDAQ">LPLA</a>), revealing diverse outlooks from bullish to bearish.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $279.53, with a high estimate of $334.00 and a low estimate of $215.00. A 5.81% drop is evident in the current average compared to the previous average price target of $296.77. 
<img src="https://www.benzinga.com/files/images/story/2024/1728061428_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
The standing of LPL Finl Hldgs among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Gerald O'Hara</td>
<td>Jefferies</td>
<td>Lowers</td>
<td>Buy</td>
<td>$282.00</td>
<td>$309.00</td>
</tr>
<tr>
<td>Christopher Allen</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Buy</td>
<td>$285.00</td>
<td>$325.00</td>
</tr>
<tr>
<td>Alexander Blostein</td>
<td>Goldman Sachs</td>
<td>Lowers</td>
<td>Buy</td>
<td>$271.00</td>
<td>$289.00</td>
</tr>
<tr>
<td>Michael Brown</td>
<td>Wells Fargo</td>
<td>Announces</td>
<td>Equal-Weight</td>
<td>$235.00</td>
<td>-</td>
</tr>
<tr>
<td>Brennan Hawken</td>
<td>UBS</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$215.00</td>
<td>$290.00</td>
</tr>
<tr>
<td>Craig Siegenthaler</td>
<td>B of A Securities</td>
<td>Announces</td>
<td>Buy</td>
<td>$268.00</td>
<td>-</td>
</tr>
<tr>
<td>Bill Kirk</td>
<td>TD Cowen</td>
<td>Raises</td>
<td>Hold</td>
<td>$255.00</td>
<td>$243.00</td>
</tr>
<tr>
<td>Devin Ryan</td>
<td>JMP Securities</td>
<td>Raises</td>
<td>Market Outperform</td>
<td>$310.00</td>
<td>$305.00</td>
</tr>
<tr>
<td>Benjamin Budish</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$273.00</td>
<td>$313.00</td>
</tr>
<tr>
<td>Kyle Voigt</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$315.00</td>
<td>$326.00</td>
</tr>
<tr>
<td>Michael Cho</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Neutral</td>
<td>$268.00</td>
<td>$261.00</td>
</tr>
<tr>
<td>Benjamin Budish</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$313.00</td>
<td>$319.00</td>
</tr>
<tr>
<td>Brennan Hawken</td>
<td>UBS</td>
<td>Raises</td>
<td>Neutral</td>
<td>$290.00</td>
<td>$285.00</td>
</tr>
<tr>
<td>Gerald O'Hara</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Buy</td>
<td>$334.00</td>
<td>$322.00</td>
</tr>
<tr>
<td>Bill Kirk</td>
<td>TD Cowen</td>
<td>Raises</td>
<td>Hold</td>
<td>$279.00</td>
<td>$271.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to LPL Finl Hldgs. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of LPL Finl Hldgs compared to the broader market.</li>
<li>Price Targets: Understanding forecasts, analysts offer estimates for LPL Finl Hldgs's future value. Examining the current and prior targets provides insight into analysts' changing expectations.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into LPL Finl Hldgs's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/LPLA/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on LPL Finl Hldgs analyst ratings.</a>
<h2>All You Need to Know About LPL Finl Hldgs</h2>
LPL Financial Holdings is an independent broker/dealer that provides a platform of proprietary technology, brokerage, and investment advisory services to financial advisors and institutions. As of the end of June 2024, the company had over 23,000 advisors on its platform managing $1.5 trillion of client assets. The company doesn't have material operations outside of the United States.
<h3>Financial Milestones: LPL Finl Hldgs's Journey</h3>
Market Capitalization Perspectives: The company's market capitalization falls below industry averages, signaling a relatively smaller size compared to peers. This positioning may be influenced by factors such as perceived growth potential or operational scale.
Revenue Growth: LPL Finl Hldgs's remarkable performance in 3 months is evident. As of 30 June, 2024, the company achieved an impressive revenue growth rate of 18.75%. This signifies a substantial increase in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Financials sector.
Net Margin: LPL Finl Hldgs's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of 8.32%, the company may face hurdles in effective cost management.
Return on Equity (ROE): LPL Finl Hldgs's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 10.19% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): LPL Finl Hldgs's ROA stands out, surpassing industry averages. With an impressive ROA of 2.17%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: LPL Finl Hldgs's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 1.86.
<h2>How Are Analyst Ratings Determined?</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Where LPL Finl Hldgs Stands With Analysts

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Shares of companies within the broader financial sector are trading higher amid overall market strength following strong September Unemployment Rate and Nonfarm Payrolls data. Also, the dockworkers struck a deal to suspend their strike after they reached a tentative agreement, easing concerns about its potential ramifications.

Jefferies analyst Gerald O'Hara maintains LPL Finl Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPLA#NASDAQ">LPLA</a>) with a Buy and lowers the price target from $309 to $282.

Jefferies Maintains Buy on LPL Finl Hldgs, Lowers Price Target to $282

LPL Financial Holdings (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lpla#NASDAQ">LPLA</a>), along with its subsidiaries LPL Financial LLC, has completed the acquisition of Altria Wealth Solutions, Inc. (&quot;Altria&quot;). Further, the company announced a change in its leadership with the termination of its existing president and chief executive officer&nbsp;and the appointment of a new CEO.
<h2>Details of Acquisition Pursued by LPLA</h2>
Atria Wealth Solutions, Inc., based in New York, boasts a network of almost 2,400 advisors and serves around 150 banks and credit unions, managing an impressive $100 billion in brokerage and advisory assets. Notably, brokerage accounts comprise nearly 80% of the firm&#39;s assets, with the rest in advisory holdings.
Per the acquisition announcement dated Feb. 13, 2024, LPLA expected onboarding and integration costs to be between $300 million and $350 million. Despite these expenses, the long-term financial projections are promising, with LPLA anticipating additional earnings of $140 million annually from the deal.
LPL Financial expects to meet or exceed its retention target of 80%. Altria will function as a wholly owned portfolio company through the onboarding of Altria advisors, which is anticipated to be completed in mid-2025.
The acquisition aligns with LPL Financial&#39;s goal to empower independent financial advisors and institutions nationwide by providing them with comprehensive support and resources. The acquisition of Atria Wealth Solutions builds upon LPL Financial&#39;s previous successful ventures, including the acquisition of National Planning Holdings and Waddell &amp; Reed in 2017 and 2021, respectively.
Further, LPLA considers acquisitions a core part of its business expansion strategy. In May, the company acquired Crown Capital, while in September, it agreed to acquire The Investment Center, Inc., reinforcing its strategy of expanding its advisor network and enhancing offerings.
<h2>LPL Financial Leadership Change</h2>
LPLA&#39;s board of directors terminated the company&#39;s president and chief executive officer, Dan H. Arnold for violation of the company&#39;s commitment to a respectful workplace. He has submitted his resignation from the board as well.
The dismissal is based on the cause recommended by a special committee of directors following an investigation by an external law firm, which concluded that Arnold had made statements to employees that breached LPLA&#39;s code of conduct.
The board has appointed Rich Steinmeier (presently the company&#39;s managing director and chief growth officer) as interim CEO, effective immediately.
James Putnam, chair of the board of directors at LPL Financial, stated, &quot;LPL&#39;s Code of Conduct requires every employee, no matter their title, to foster a supportive and professional workplace and show respect to each other, our stakeholders and the broader community, Mr. Arnold failed to meet these obligations.&quot;
<h2>LPL Financial&#39;s Zacks Rank &amp; Price Performance</h2>
Year to date, shares of LPL Financial have risen 1% compared with the industry&#39;s growth of 17.7%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/4d/79979.jpg?v=1650055316" />
Image Source: Zacks Investment Research
Currently, LPLA carries a Zacks Rank #3 (Hold).
<h2>Merger &amp; Acquisition Deal Pursued by Other Finance Firms</h2>
This week, Byline Bancorp, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/by#NYSE">BY</a>) entered into a cash and stock merger deal worth $41 million with First Security Bancorp, Inc. in an effort to strengthen its position in Chicago.
The merger is expected to solidify Byline&#39;s position as Chicago&#39;s largest community bank, with assets under $10 billion, loans of $7.3 billion and deposits worth $7.8 billion, along with 45 branches across the greater Chicago metropolitan area.
Last week, TowneBank (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/town#NASDAQ">TOWN</a>) agreed to acquire Village Bank and Trust Financial Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vbfc#NASDAQ">VBFC</a>). The all-cash transaction is valued at $120 million.
The deal is anticipated to be roughly 6% accretive to TOWN&#39;s 2025 earnings per share, assuming the execution of cost savings on a GAAP basis. Further, TOWN projects a roughly 1% improvement in common equity tier 1 capital and an 80-basis points improvement in efficiency ratio next year.
<a href="https://www.zacks.com/stock/news/2344611/lpl-financial-acquires-altria-wealth-solutions-appoints-new-ceo?cid=CS-BENZ-FT-analyst_blog|company_news_finance_sector-2344611">To read this article on Zacks.com click here.</a>

Offerings

Events

TOWN

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LPL Financial Acquires Altria Wealth Solutions, Appoints New CEO

Interactive Brokers Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ibkr#NASDAQ">IBKR</a>) has released the Electronic Brokerage segment&#39;s performance metrics for September 2024. The segment deals with the clearance and settlement of trades for individual and institutional clients globally. It reported a rise in client Daily Average Revenue Trades (DARTs).
<h2>IBKR&#39;s September Performance Breakdown</h2>
Total client DARTs in September were 2,634,000, which increased 46.5% from September 2023 but fell 2.9% from the last month.
On an annualized basis, the Cleared Average DARTs per customer account was 190 for September 2024. The metric increased 13.1% on a year-over-year basis but declined 4% from August 2024.
IBKR&#39;s total customer accounts rose 28.3% year over year and 1.9% from the last month to 3.1 million. Net new accounts were 58,200, witnessing a decline of 6.9% year over year and 12.7% sequentially.
Interactive Brokers&#39; total options contracts were 100 million in September 2024, up 32.5% year over year but down 10.5% sequentially. Future contracts declined marginally year over year and 15.5% from August to 17 million.
At the end of September 2024, client equity was $541.5 billion, which grew 46.4% year over year and 5.1% from the last month. IBKR recorded client credit balances of $116.7 billion, up 19.1% from September 2023 and 5.1% from the August 2024 level. The company&#39;s customer margin loan balance of $55.8 billion increased 28% from the year-ago month and 1.6% from the last month.
<h2>IBKR&#39;s Zacks Rank &amp; Price Performance</h2>
Year to date, shares of Interactive Brokers have surged 66.8%, outperforming the industry&#39;s growth of 17.7%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/e4/79977.jpg?v=129376498" />
Image Source: Zacks Investment Research
Currently, IBKR has a Zacks Rank #3 (Hold).
Two other brokerage firms, The Charles Schwab Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/schw#NYSE">SCHW</a>) and LPL Financial Holdings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lpla#NASDAQ">LPLA</a>), will come out with their monthly performances in the coming days.
The Zacks Consensus Estimate for SCHW 2024 earnings per share has moved marginally downward over the past 60 days while the metric has moved marginally upward for LPLA in the past month.
At present, SCHW &amp; LPLA carry a Zacks Rank #3 each.
<a href="https://www.zacks.com/stock/news/2344607/interactive-brokers-reports-y-y-increase-in-september-client-darts?cid=CS-BENZ-FT-analyst_blog|company_news_finance_sector-2344607">To read this article on Zacks.com click here.</a>

Contracts

IBKR

Interactive Brokers Reports Y/Y Increase in September Client DARTs

Prudential Financial (PRU) retail arm Prudential Advisors and LPL Financial Holdings (LPLA) finalized the launch of their strategic relationship, f...

LPL Financial and Prudential launch strategic relationship and integration

Overweight-rated Financial stocks, as group's outlook looks attractive - MS

High Alpha stocks that are rated 'overweight' – MS

LPL Financial (LPLA) announced that financial advisors Anthony Campagni, CFP, Ronald Jurczynski, CPA/PFS, Mitchell Romeo, CPWA, CPFA, Kyle Hanchari...

LPL Financial welcomes Strata Financial Group

These 19 stocks are poised for tax reform turbocharge - Jefferies

Citi Research's U.S. Equity Strategy Large-Cap recommendation list

LPL Financia a wholly owned subsidiary of LPL Financial (LPLA) Holdings released its monthly activity report for October 2024. Total advisory and b...

LPL Financial: Total client cash balances at October-end $48.3B up $2.5B M/M

In a report released today, Benjamin Budish from Barclays maintained a Buy rating on LPL Financial (LPLA – Research Report), with a price target of...

Barclays Sticks to Their Buy Rating for LPL Financial (LPLA)

In a report released today, Kyle Voigt from KBW maintained a Buy rating on LPL Financial (LPLA – Research Report), with a price target of $325.00. ...

LPL Financial (LPLA) Receives a Buy from KBW

Analyst Michael Brown from Wells Fargo maintained a Buy rating on LPL Financial (LPLA – Research Report) and keeping the price target at $310.00. M...

LPL Financial's Strong Organic Growth and Strategic Partnership with Prudential Advisors Support Buy Rating

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Press Releases

LPL Financial Welcomes S&G Wealth Partners

Legal

LPL Financial Welcomes Nexus Wealth Partners

LPL Financial Foundation Awards Over $1 Million to Support Enhancing Diversity in Wealth Management

General

LPL Financial Launches Curated AI Solutions for Advisors

LPL Financial Welcomes Financial Advisors Ryan Kirby, Michael Alvarez

LPL Financial Hosts Program Leadership Conference for Top Bank and Credit Union Program Executives

LPL Financial Welcomes Prosperity Investment Management

Prudential Financial Completes Integration with LPL Financial Platform, Delivering Experience Upgrade for its Retail Arm, Prudential Advisors

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