Propel (TSE:PRL) Stock Price Down 1.2% – Time to Sell?

Propel Holdings Inc. (TSE:PRL) shares dropped 1.2% on Monday . The company traded as low as $21.60 and last traded at $21.72. Approximately 128,243 shares traded hands during trading, a decline of 52% from the average daily volume of 267,512 shares. The stock had previously closed at $21.99.

Analyst Ratings Changes

PRL has been the topic of a number of recent analyst reports. Stifel Nicolaus cut their price target on Propel from C$38.00 to C$32.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. Scotiabank cut Propel from a “sector outperform” rating to a “sector perform” rating and cut their price target for the company from C$35.00 to C$27.00 in a report on Tuesday, April 28th. ATB Cormark Capital Markets cut their price target on Propel from C$38.00 to C$27.00 and set an “outperform” rating on the stock in a report on Wednesday, March 4th. Ventum Financial cut their price target on Propel from C$4.00 to C$3.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. Finally, Raymond James Financial cut their price target on Propel from C$32.00 to C$31.00 and set an “outperform” rating on the stock in a report on Wednesday, May 6th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Propel Price Performance

The stock has a market cap of $854.94 million, a P/E ratio of 16.21 and a beta of 0.83. The company has a fifty day moving average of $21.22 and a 200 day moving average of $22.42.

Propel Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, June 3rd were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, May 15th. This is a positive change from Propel’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 4.4%. Propel’s dividend payout ratio is presently 43.86%.

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).