Propel Holdings Inc. (TSE:PRL) Given Average Rating of “Strong Buy” by Brokerages

Shares of Propel Holdings Inc. (TSE:PRL) have been assigned a consensus rating of “Strong Buy” from the six analysts that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a buy recommendation and three have given a strong buy recommendation to the company.

A number of brokerages have commented on PRL. Scotiabank increased their price objective on Propel from C$38.00 to C$43.00 in a research report on Wednesday, July 23rd. Cormark raised Propel to a “moderate buy” rating in a research note on Thursday, July 10th. Finally, Raymond James Financial lowered their price objective on Propel from C$46.00 to C$42.00 in a research report on Wednesday, July 16th.

Propel Price Performance

Shares of Propel stock opened at $34.36 on Friday. The firm has a 50 day simple moving average of $35.96 and a 200 day simple moving average of $31.61. Propel has a fifty-two week low of $20.99 and a fifty-two week high of $43.36. The firm has a market cap of $956.61 million, a P/E ratio of 21.25 and a beta of 1.75.

Propel Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, September 4th will be given a $0.78 dividend. The ex-dividend date is Wednesday, August 27th. This represents a $3.12 annualized dividend and a dividend yield of 9.1%. This is an increase from Propel’s previous quarterly dividend of $0.18. Propel’s dividend payout ratio is 34.64%.

Insiders Place Their Bets

In other Propel news, Senior Officer Sarika Ahluwalia sold 16,417 shares of the firm’s stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $37.53, for a total transaction of $616,192.39. Also, Senior Officer Noah Buchman sold 26,871 shares of the business’s stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $37.34, for a total value of $1,003,424.94. Insiders sold 101,943 shares of company stock worth $3,639,773 over the last three months. Insiders own 33.31% of the company’s stock.

Propel Company Profile

Propel Holdings Inc is a financial technology company committed to credit inclusion and helping underserved consumers by providing fair, fast, and transparent access to credit. It operates through its two brands: MoneyKey and CreditFresh. The company, through its MoneyKey brand, is a state-licensed direct lender and offers either Installment Loans or Lines of Credit to new customers in several US states.