Propel (TSE:PRL) Trading 0.6% Higher – Here’s Why

Propel Holdings Inc. (TSE:PRL) shares rose 0.6% during trading on Thursday . The stock traded as high as $24.76 and last traded at $24.32. Approximately 185,838 shares were traded during trading, a decline of 20% from the average daily volume of 232,753 shares. The stock had previously closed at $24.18.

Analyst Upgrades and Downgrades

Several research firms recently commented on PRL. 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. Scotiabank reduced their price target on shares of Propel from C$40.00 to C$38.00 in a research note on Wednesday, November 5th. Raymond James Financial reduced their price objective on Propel from C$42.00 to C$35.00 in a report on Wednesday, November 5th. Finally, Ventum Financial reduced their price target on shares of Propel from C$42.00 to C$40.00 in a report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy”.

Propel Trading Up 0.6%

The company has a fifty day moving average price of $24.10 and a 200-day moving average price of $28.60. The firm has a market cap of $957.09 million, a price-to-earnings ratio of 15.59 and a beta of 0.49.

Propel Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Stockholders 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 3.5%. Propel’s dividend payout ratio is presently 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).