Propel (TSE:PRL) Trading Up 1.4% – Time to Buy?

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

Analysts Set New Price Targets

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

Propel Price Performance

The company has a market cap of $980.75 million, a price-to-earnings ratio of 16.18 and a beta of 0.90. The stock has a 50-day moving average price of $24.05 and a 200 day moving average price of $30.15.

Propel Cuts Dividend

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