Propel (TSE:PRL) Trading Up 0.8% – Here’s Why

Propel Holdings Inc. (TSE:PRL)’s share price shot up 0.8% during trading on Friday . The stock traded as high as $25.30 and last traded at $25.02. 125,716 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 230,682 shares. The stock had previously closed at $24.81.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Ventum Financial reduced their price objective on shares of Propel from C$42.00 to C$40.00 in a research report on Thursday, November 6th. Stifel Nicolaus set a C$38.00 target price on shares of Propel and gave the stock a “buy” rating in a report on Thursday, December 4th. Raymond James Financial dropped their price target on Propel from C$42.00 to C$35.00 in a report on Wednesday, November 5th. Finally, Scotiabank cut their price objective on Propel from C$40.00 to C$38.00 in a research report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy”.

Propel Price Performance

The firm has a market cap of $984.64 million, a price-to-earnings ratio of 16.04 and a beta of 0.62. The stock’s fifty day moving average price is $24.57 and its 200-day moving average price is $27.26.

Propel Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, March 4th will be paid a dividend of $0.225 per share. This is an increase from Propel’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, February 20th. This represents a $0.90 annualized dividend and a yield of 3.6%. Propel’s dividend payout ratio (DPR) is presently 31.67%.

About Propel

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).