LPL Financial Holdings Inc. (LPLA) To Go Ex-Dividend on November 12th

LPL Financial Holdings Inc. (NASDAQ:LPLA) declared a quarterly dividend on Thursday, October 22nd. Stockholders of record on Thursday, November 12th will be given a dividend of $0.30 per share by the financial services provider on Monday, November 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Thursday, November 12th.

LPL Financial has a payout ratio of 5.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect LPL Financial to earn $29.71 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 4.0%.

LPL Financial Trading Up 3.4%

NASDAQ:LPLA opened at $305.49 on Tuesday. The firm has a 50-day moving average price of $322.86 and a two-hundred day moving average price of $320.92. The firm has a market cap of $23.79 billion, a price-to-earnings ratio of 17.53, a price-to-earnings-growth ratio of 0.60 and a beta of 0.55. LPL Financial has a 52 week low of $260.15 and a 52 week high of $400.16. The company has a debt-to-equity ratio of 1.34, a quick ratio of 2.62 and a current ratio of 2.62.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Tuesday, October 27th. The financial services provider reported $5.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.69 by $0.28. LPL Financial had a return on equity of 32.05% and a net margin of 6.83%. The firm had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter in the prior year, the company earned $5.20 EPS. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. On average, equities analysts expect that LPL Financial will post 23.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on LPLA shares. Wells Fargo & Company dropped their price target on shares of LPL Financial from $362.00 to $350.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 28th. Keefe, Bruyette & Woods upped their price target on shares of LPL Financial from $365.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Wolfe Research reissued an “outperform” rating and issued a $454.00 price target on shares of LPL Financial in a research note on Wednesday, August 12th. BMO Capital Markets dropped their price target on shares of LPL Financial from $390.00 to $370.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 6th. Finally, Truist Financial decreased their target price on shares of LPL Financial from $354.00 to $335.00 and set a “hold” rating for the company in a research note on Wednesday, October 28th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $400.60.

LPL Financial Company Profile

LPL Financial Holdings Inc provides brokerage and investment advisory services through a network of independent financial professionals. The company supports financial advisors, registered investment advisers, banks and credit unions with services designed to help them serve individual and institutional clients.

Its offerings include investment and retirement planning platforms, brokerage and advisory account services, custody, financial technology, research, compliance support and practice-management resources.