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LPL Finl Hldgs (NASDAQ:LPLA) Stock, Rapport sur les intérêts à découvert

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.

LPL Financial Holdings Inc. - Common Stock

LPL Financial Holdings Inc

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>

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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>

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Interactive Brokers Reports Y/Y Increase in September Client DARTs

General

LPL Financial Holdings shares are trading lower after the company announced it terminated CEO Dan Arnold for violating its commitment to a respectful workplace.

Trading Halt: Halt status updated at 4:25:00 PM ET: Quotation Resumption: News and Resumption Times

Board of Directors Names Chief Growth Officer Rich Steinmeier as Interim CEO
LPL Financial Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPLA#NASDAQ">LPLA</a>) today announced that the Board of Directors has terminated the company's President and Chief Executive Officer, Dan H. Arnold, effective immediately, for violating LPL's commitment to a respectful workplace. He has also resigned from the Board.
The Board has appointed Rich Steinmeier, currently the company's Managing Director, Chief Growth Officer, as Interim CEO, also effective immediately.

Management

LPL Financial Holdings Announces Termination Of President And CEO Dan H. Arnold; Names Chief Growth Officer Rich Steinmeier As Interim CEO

Trading Halt: Halted at 4:00:10 p.m. ET - Trading Halt: Halt News Pending

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 lowers the price target from $325 to $285.

Price Target

Citigroup Maintains Buy on LPL Finl Hldgs, Lowers Price Target to $285

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 lowers the price target from $289 to $271.

Goldman Sachs Maintains Buy on LPL Finl Hldgs, Lowers Price Target to $271

This relationship brings the wide variety of insurers and policy options on the Zinnia Marketplace to the largest broker-dealer&#x2A; in the U.S., helping make life insurance processes seamless
<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fzinnia.com%2F&amp;esheet=54126868&amp;newsitemid=20240925322206&amp;lan=en-US&amp;anchor=Zinnia&amp;index=1&amp;md5=e1ca4f3c17ae7cf7290728515ae2cd2d">Zinnia</a>, a leading life &amp; annuity insurance technology services company, and <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.lpl.com%2F&amp;esheet=54126868&amp;newsitemid=20240925322206&amp;lan=en-US&amp;anchor=LPL+Financial&amp;index=2&amp;md5=29564be439ce3bca4aa36a9dbfdda835">LPL Financial</a> (LPL) announced today a strategic relationship providing LPL's network of more than 23,000 financial advisors a simplified way to find, recommend, fulfill, and service life insurance for their clients.
Policygenius Pro by Zinnia is a turnkey insurance platform that will help LPL's network of financial advisors and credit unions accelerate life insurance sales and enable their clients to access the wide variety of insurers, coverage types, and policy options.
By leveraging these unique quoting tools from Zinnia along with its built-in referral processes, LPL advisors can significantly cut down on time spent on life insurance applications and cut placement times, while providing their clients top-tier customer service. LPL advisors receive support from a team of expert licensed insurance agents from Policygenius for case management, underwriting, and product support.

Zinnia Announces New Strategic Relationship With LPL Financial, Bringing The Wide Variety Of Insurers And Policy Options On The Zinnia Marketplace To The Largest Broker-Dealer In The U.S., Helping Make Life Insurance Processes Seamless

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Shares of companies in the broader financial services and banking sectors are trading higher amid overall market strength following the Fed's rate cut, which could drive a rise in spending and lending demand.

During the last three months, 12 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;">2</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;">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>1M Ago</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>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">2</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;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
In the assessment of 12-month price targets, analysts unveil insights for LPL Finl Hldgs, presenting an average target of $279.58, a high estimate of $334.00, and a low estimate of $215.00. A 4.74% drop is evident in the current average compared to the previous average price target of $293.50. 
<img src="https://www.benzinga.com/files/images/story/2024/1726171304_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
The perception of LPL Finl Hldgs by financial experts is analyzed through recent analyst actions. The following summary presents 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>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: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of LPL Finl Hldgs compared to the broader market.</li>
<li>Price Targets: Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.</li>
</ul>
To gain a panoramic view of LPL Finl Hldgs's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using 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>Discovering LPL Finl Hldgs: A Closer Look</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 2023, the company had over 20,000 advisors on its platform managing over $1.3 trillion of client assets.
<h3>LPL Finl Hldgs's Financial Performance</h3>
Market Capitalization Analysis: The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests a smaller scale relative to peers.
Revenue Growth: Over the 3 months period, LPL Finl Hldgs showcased positive performance, achieving a revenue growth rate of 18.75% as of 30 June, 2024. This reflects a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Financials sector.
Net Margin: LPL Finl Hldgs's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of 8.32%, the company may encounter challenges in effective cost control.
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 excels beyond industry benchmarks, reaching 2.17%. This signifies efficient management of assets and strong financial health.
Debt Management: With a below-average debt-to-equity ratio of 1.86, LPL Finl Hldgs adopts a prudent financial strategy, indicating a balanced approach to debt management.
<h2>Analyst Ratings: What Are They?</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Navigating 12 Analyst Ratings For LPL Finl Hldgs

LPL Finl Hldgs's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LPLA#NYSE">LPLA</a>) short percent of float has risen 61.74% since its last report. The company recently reported that it has 1.38 million shares sold short, which is 1.86% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.22 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/2024/1726148712_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 grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more 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 3.33%, 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

Looking Into LPL Finl Hldgs's Recent Short Interest

Wells Fargo analyst Michael Brown initiates coverage on LPL Finl Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPLA#NASDAQ">LPLA</a>) with a Equal-Weight rating and announces Price Target of $235.

Initiation

Wells Fargo Initiates Coverage On LPL Finl Hldgs with Equal-Weight Rating, Announces Price Target of $235

LPL Financial (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lpla#NASDAQ">LPLA</a>) considers acquisitions a core part of its business expansion strategy. In sync with it, the company has signed a definitive agreement to acquire The Investment Center, Inc., a broker-dealer and registered investment adviser based in Bedminster, NJ.
The acquisition will bring The Investment Center&#39;s 240 advisors and nearly $9 billion in assets under LPL Financial&#39;s umbrella, reinforcing its strategy of expanding its advisor network and enhancing offerings.
The Investment Center&#39;s entrepreneurial ethos and advisor-first philosophy align closely with LPL Financial&#39;s mission, making the acquisition a natural fit. Rich Steinmeier, the company&#39;s managing director and chief growth officer, highlighted the opportunity to further empower The Investment Center&#39;s high-performing advisors with LPLA&#39;s industry-leading technology and resources.
By integrating The Investment Center&#39;s well-established back-office support services and investment tools, LPL Financial intends to enhance the service experience for its advisors and clients.
<h2>LPLA&#39;s Past Buyouts</h2>
Given a strong balance sheet position, LPL Financial has accomplished several opportunistic deals over the years. In May 2024, the company acquired the wealth management business of Crown Capital. In February 2024, it announced an agreement to acquire Atria Wealth Solutions to bolster its offerings in the wealth management solutions market.
In 2023, the company took a minority stake in IAA (a hybrid registered investment advisory firm) and acquired FRGIS and the Private Client Group business of Boenning &amp; Scattergood. In 2021, it took over Waddell &amp; Reed&#39;s wealth management business, while in 2020, the company acquired Blaze Portfolio, the assets of E.K. Riley Investments, LLC and Lucia Securities.
Inorganic expansion efforts have been helping LPL Financial diversify revenues, add new capabilities and accelerate expansion into new markets.
<h2>Our Take on LPL Financial&#39;s Expansion Plans</h2>
The recent move to acquire The Investment Center reflects LPL Financial&#39;s intent to solidify its market position by continually adding value through strategic acquisitions.
The deal is poised to strengthen LPLA&#39;s asset base and broaden its advisory network, potentially leading to increased revenue streams. By bringing in more independent advisors and their assets, the company is well-positioned to achieve sustained growth.
So far this year, shares of LPL Financial have lost 3.9% against the industry&#39;s rally of 13.5%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/7d/76652.jpg?v=506973714" />
Image Source: Zacks Investment Research
At present, LPLA carries a Zacks Rank #3 (Hold).
<h2>Other Finance Firms Making Similar Moves</h2>
Last week, Bridgewater Bancshares Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bwb#NASDAQ">BWB</a>) signed an agreement to acquire First Minnetonka City Bank. The consideration will be fully settled in cash and includes a minimum tier 1 capital requirement by the First Minnetonka City Bank.
The deal is anticipated to be 15% accretive to BWB&#39;s 2025 earnings per share with a tangible book value earn-back period of less than three years.
In August, Old Second Bancorp, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/osbc#NASDAQ">OSBC</a>) inked an agreement with First Merchants Corp. to buy five Illinois branches alongside certain branch-specific loans and deposits. These branches are located in Southeast Chicago MSA.
The acquisition is expected to strengthen OSBC&#39;s status as one of the largest banks headquartered in Chicagoland and significantly expand its existing branch network, specifically in the Southeast Chicago market.
<a href="https://www.zacks.com/stock/news/2331842/lpl-financial-on-buyout-spree-to-acquire-investment-center?cid=CS-BENZ-FT-analyst_blog|company_news_finance_sector-2331842">To read this article on Zacks.com click here.</a>

OSBC

LPL Financial on Buyout Spree, to Acquire Investment Center

LPL Financial Enters Agreement To Acquire The Investment Center, Adding $9B In Assets And 240 Advisors To Its Platform; Financial Terms Not Disclosed

Charles Schwab (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/schw#NYSE">SCHW</a>) reported its monthly activity report for July 2024. The company&#39;s core net new assets of $29 billion surged substantially from $13.7 billion recorded in the prior-year month but was unchanged from the previous month.
SCHW&#39;s total client assets in July 2024 were $9.57 trillion, up 2% from the June 2024 level and 16% from July 2023. Client assets receiving ongoing advisory services were $4.83 trillion, rising 2% from the prior month and 16% year over year.
Schwab&#39;s average interest-earning assets of $417.4 billion in July increased marginally from June 2024 but declined 11% year over year. Average margin balances were $73.2 billion, up 5% from the previous month and 16% on a year-over-year basis. Average bank deposit account balances totaled $84 billion in July, down 1% from last month and 18% from July 2023.
Schwab opened 327,000 new brokerage accounts in July 2024, up 5% sequentially and 8% from the year-earlier month.
Schwab&#39;s active brokerage accounts totaled 35.7 million at the end of July 2024, which was stable on a sequential basis and up 4% from the year-ago month. Client banking accounts were 1.94 million, stable sequentially and up 8% from the July 2023 figure. The number of workplace plan participant accounts was stable from the prior month and up 7% year over year to 5.38 million.
In the past six months, Schwab shares have rallied 3.1% compared with the industry&#39;s rise of 15.7%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/8c/74560.jpg?v=1117747234" />
Image Source: Zacks Investment Research
Currently, SCHW carries a Zacks Rank #4 (Sell).
<h3>Competitive Landscape</h3>
Interactive Brokers Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ibkr#NASDAQ">IBKR</a>) released the Electronic Brokerage segment&#39;s performance metrics for July 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).
IBKR&#39;s total client DARTs for July were 2,756,000, which increased 38.4% from July 2023 and 11.6% from last month.
Another brokerage firm, LPL Financial (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lpla#NASDAQ">LPLA</a>), is expected to come out with its monthly activity report soon.
Currently, IBKR sports a Zacks Rank #1 (Strong Buy) and LPLA has a Zacks Rank #3 (Hold).
<a href="https://www.zacks.com/stock/news/2323871/schwab-s-schw-july-core-net-new-assets-significantly-rise-y-y?cid=CS-BENZ-FT-analyst_blog|company_news_finance_sector-2323871">To read this article on Zacks.com click here.</a>

Schwab's July Core Net New Assets Significantly Rise Y/Y

U.S. stocks were mixed, with the Dow Jones index gaining around 50 points on Wednesday.
Shares of UBS Group AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>) rose during Wednesday's session following strong s<a href="https://www.benzinga.com/news/earnings/24/08/40360422/ubs-q2-earnings-beats-wealth-management-shines-cost-savings-accelerate-more">econd-quarter earnings.</a>
UBS Group reported second-quarter FY24 sales of $11.9 billion, up 25% Y/Y, beating the consensus of $11.3 billion.
Underlying operating profit before tax reached $2.06 billion, significantly higher than $891 million a year ago. EPS of 34 cents beat the consensus of 12 cents.
UBS shares gained 5.6% to $30.89 on Wednesday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Serve Robotics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SERV#NASDAQ">SERV</a>) shares jumped 29% to $13.40 after the company announced a partnership with Shake Shack to deliver products using autonomous delivery robots through Uber Eats.</li>
<li>Mercury Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRCY#NASDAQ">MRCY</a>) surged 21.9% to $41.43 after the company reported better-than-expected fourth-quarter financial results.</li>
<li>AnaptysBio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANAB#NASDAQ">ANAB</a>) gained 18.8% to $39.62 after the company announced a public offering of 2,750,498 shares of common stock at $36.50 per share.</li>
<li>Victoria&#8217;s Secret &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSCO#NYSE">VSCO</a>) gained 17.1% to $22.33 after the company announced a new CEO and reported strong preliminary second-quarter financial results.</li>
<li>Nkarta, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKTX#NASDAQ">NKTX</a>) surged 13.7% to $5.65 following upbeat quarterly earnings.</li>
<li>Marex Group plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRX#NASDAQ">MRX</a>) gained 13% to $23.56 after the company reported better-than-expected second-quarter financial results.</li>
<li>Smith Douglas Homes Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SDHC#NASDAQ">SDHC</a>) jumped 12.2% to $36.54 after the company reported better-than-expected second-quarter revenue results..</li>
<li>Intapp, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTA#NASDAQ">INTA</a>) gained 12.1% to $38.11 after the company reported strong fourth-quarter earnings and issued guidance.</li>
<li>Clover Health Investments, Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLOV#NASDAQ">CLOV</a>) gained 11.3% to $2.2250 following quarterly results.</li>
<li>Performance Food Group Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFGC#NYSE">PFGC</a>) climbed 9.7% to $73.58 after the company reported better-than-expected fourth-quarter adjusted EPS results.</li>
<li>XP Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XP#NASDAQ">XP</a>) gained 8.7% to $20.05 following second-quarter results.</li>
<li>Prelude Therapeutics Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRLD#NASDAQ">PRLD</a>) gained 8.6% to $6.73.</li>
<li>Flutter Entertainment plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLUT#NYSE">FLUT</a>) gained 8% to $206.76 after the company reported a year-over-year increase in second-quarter financial results..</li>
<li>Kellanova (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/K#NYSE">K</a>) gained 7.9% to $80.39 following a report suggesting Mars is expected to pay $83.50 per share for the company.</li>
<li>Qifu Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QFIN#NASDAQ">QFIN</a>) climbed 7.5% to $22.69 following second-quarter results.</li>
<li>LPL Financial Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPLA#NASDAQ">LPLA</a>) gained 7.1% to $213.53.</li>
</ul>
Now Read This:<a href="https://www.benzinga.com/news/24/08/40362640/wall-streets-most-accurate-analysts-weigh-in-on-3-tech-stocks-with-over-3-dividend-yields"> </a>
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40362640/wall-streets-most-accurate-analysts-weigh-in-on-3-tech-stocks-with-over-3-dividend-yields">Wall Street&#8217;s Most Accurate Analysts Weigh In On 3 Tech Stocks With Over 3% Divi</a><a href="https://www.benzinga.com/news/24/08/40362640/wall-streets-most-accurate-analysts-weigh-in-on-3-tech-stocks-with-over-3-dividend-yields">dend Yields</a></li>
</ul>

Intraday Update

Movers

ANAB

CLOV

FLUT

INTA

MRCY

NKTX

PFGC

PRLD

QFIN

SDHC

SERV

VSCO

UBS Posts Upbeat Earnings, Joins Victoria's Secret, Performance Food Group, Kellanova And Other Big Stocks Moving Higher On Wednesday

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 lowers the price target from $290 to $215.

UBS Maintains Neutral on LPL Finl Hldgs, Lowers Price Target to $215

ACRE

ATCH

COHN

FUTU

HIPO

HOOD

HSBC

HTGC

JFIN

Janus Henderson Group plc Ordinary Shares

KSPI

MOGO

MORN

NCPL

NDAQ

NRDS

NTRS

PRAA

RILY

SHF Holdings, Inc. - Class A Common Stock

SHFS

SNEX

SPGI

STEP

TBBK

TROW

VCTR

VOYA

Shares of companies within the broader financial sector are trading lower amid overall weakness following concerns about recently issued US economic data.

Brighthouse Financial, Inc. - Common Stock

ENVA

OSCR

PIPR

SLQT

SOFI

VALU

Shares of companies within the broader financial sector are trading lower amid overall market weakness following weak US jobs data.

LPL Financial terminates CEO for violating company's commitment to respectful workplace

LPL Financial ( ($LPLA) ) has issued an announcement. LPL Financial Holdings Inc. has announced the immediate termination of its President and CEO,...

LPL Financial Leadership Changes Amidst CEO's Departure

Analyst Alexander Blostein from Goldman Sachs maintained a Buy rating on LPL Financial (LPLA – Research Report) and keeping the price target at $27...

Buy Rating Affirmed Amid LPL Financial's Leadership Transition and Strong Business Strategy

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

LPL Financial (LPLA) Receives a Buy from Barclays

LPL Financial (LPLA – Research Report), the Financial sector company, was revisited by a Wall Street analyst yesterday. Analyst Michael Brown from ...

LPL Financial: Hold Rating Amidst Leadership Turmoil and Positive Business Prospects

Michael Cyprys, an analyst from Morgan Stanley, maintained the Buy rating on LPL Financial (LPLA – Research Report). The associated price target re...

Buy Rating for LPL Financial Despite CEO Departure: Stability and Growth Potential Upheld

TD Cowen analyst William Katz maintained a Hold rating on LPL Financial (LPLA – Research Report) today and set a price target of $245.00. The compa...

LPL Financial (LPLA) Gets a Hold from TD Cowen

In a report released today, Craig Siegenthaler from Bank of America Securities maintained a Buy rating on LPL Financial (LPLA – Research Report). T...

Bank of America Securities Keeps Their Buy Rating on LPL Financial (LPLA)

LPL Financial stock may be volatile short term, but management is solid, analysts say

In a report released today, Devin Ryan from JMP Securities maintained a Buy rating on LPL Financial (LPLA – Research Report), with a price target o...

LPL Financial (LPLA) Receives a Rating Update from a Top Analyst

Press Releases

LPL Financial Expands to Tempe

LPL Financial welcomes Bury Financial Group

LPL Financial Reports Monthly Activity for August 2024

Legal

Bragar Eagel & Squire, P.C. Is Investigating LPL Financial, Bumble, Cardlytics, and European Wax and Encourages Investors to Contact the Firm

LPL Financial Welcomes 57th Street Wealth Advisors to Linsco Channel

Zinnia Announces New Strategic Relationship With LPL Financial to Streamline Insurance Fulfillment

LPL Financial Welcomes GreenPoint Wealth Management

Cheri Belski Joins LPL Financial as Head of Investment Management Solutions

LPL Financial Closes Its Acquisition of Atria Wealth Solutions

LPL Financial Holdings Inc. Announces Termination of President and CEO Dan H. Arnold

BMBL

CDLX

EWCZ

BGC Group

Evercore

Freedom Holding

Futu Holdings Limited - American Depositary Shares

Futu Hldgs

Goldman Sachs Group, Inc. (The) Common Stock

Goldman Sachs Gr

Houlihan Lokey, Inc. Class A Common Stock

Houlihan Lokey

Robinhood Markets, Inc. - Class A Common Stock

Robinhood Markets

Interactive Brokers Group, Inc. - Class A Common Stock

Interactive Brokers Gr

Jefferies Financial Group Inc. Common Stock

Jefferies Financial Gr

Lazard

Moelis

Marex Group

Morgan Stanley

Nomura Holdings Inc ADR American Depositary Shares

Nomura Holdings

Oppenheimer Holdings, Inc. Class A Common Stock (DE)

Oppenheimer Hldgs

Piper Sandler

PJT Partners

Perella Weinberg Partners - Class A Common Stock

Perella Weinberg

Raymond James Financial, Inc. Common Stock

Raymond James Finl

Charles Schwab Corporation (The) Common Stock

Charles Schwab

Stifel Financial Corporation Common Stock

Stifel Financial

StoneX Group

UP Fintech Holding Limited - American Depositary Shares representing fifteen Class A Ordinary Shares

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