Propel (TSE:PRL) Price Target Lowered to C$44.00 at Scotiabank

Propel (TSE:PRL) had its price objective reduced by Scotiabank from C$45.00 to C$44.00 in a research note released on Thursday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other brokerages also recently commented on PRL. Raymond James boosted their price objective on Propel from C$40.00 to C$47.00 in a research report on Monday, November 18th. Stephens raised Propel to a “strong-buy” rating in a report on Wednesday, November 13th. Three research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Strong Buy” and an average target price of $42.75.

Propel Price Performance

Shares of PRL stock opened at $22.26 on Thursday. Propel has a one year low of $14.97 and a one year high of $43.36. The company’s fifty day moving average price is $34.39 and its 200-day moving average price is $33.76. The company has a market capitalization of $619.74 million, a price-to-earnings ratio of 13.77 and a beta of 1.75.

Propel Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, March 5th were issued a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 11.86%. This is a boost from Propel’s previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, February 19th. Propel’s payout ratio is 34.64%.

Insider Activity at Propel

In other news, Senior Officer Noah Buchman sold 18,800 shares of the business’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $37.40, for a total value of $703,120.00. Also, Director Clive Kinross sold 30,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $36.79, for a total transaction of $1,103,817.00. Over the last three months, insiders sold 54,400 shares of company stock valued at $2,009,283. Insiders own 33.31% of the company’s stock.

About Propel

Propel Holdings Inc operates as a financial technology company. The company’s lending platform facilitates to credit products, such as installment loans and lines of credit under the MoneyKey, CreditFresh, and Fora Credit brands to American consumers. It also offers marketing, analytics, and loan servicing services.