Propel (TSE:PRL) Stock Price Up 1.4% – Here’s Why

Propel Holdings Inc. (TSE:PRL)’s share price rose 1.4% during mid-day trading on Friday . The stock traded as high as $25.38 and last traded at $25.24. Approximately 66,883 shares traded hands during trading, a decline of 66% from the average daily volume of 197,459 shares. The stock had previously closed at $24.88.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PRL. Raymond James Financial lowered their price objective on shares of Propel from C$42.00 to C$35.00 in a report on Wednesday, November 5th. Scotiabank decreased their price objective on shares of Propel from C$40.00 to C$38.00 in a report on Wednesday, November 5th. Stifel Canada upgraded Propel to a “strong-buy” rating in a research report on Wednesday, December 3rd. Ventum Financial decreased their target price on shares of Propel from C$42.00 to C$40.00 in a research note on Thursday, November 6th. Finally, Stifel Nicolaus set a C$38.00 price target on Propel and gave the stock a “buy” rating in a research report on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy”.

Propel Price Performance

The stock’s fifty day simple moving average is $24.05 and its 200-day simple moving average is $30.18. The firm has a market cap of $980.75 million, a PE ratio of 16.18 and a beta of 0.90.

Propel Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Thursday, December 4th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.3%. Propel’s payout ratio is 31.67%.

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. Through its CreditFresh brand, the company operates as a bank servicer that provides marketing, technology, and loan servicing services to unaffiliated, FDIC insured, state-chartered banks in the US (Bank Program).