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

Propel (TSE:PRL) had its price target lowered by Scotiabank from C$45.00 to C$44.00 in a research report sent to investors on Thursday,BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

A number of other brokerages have also recently weighed in on PRL. Stephens raised shares of Propel to a “strong-buy” rating in a research note on Wednesday, November 13th. Raymond James raised their price objective on shares of Propel from C$40.00 to C$47.00 in a research note on Monday, November 18th. Three 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.com, the stock presently has a consensus rating of “Strong Buy” and a consensus target price of $42.75.

Propel Price Performance

Shares of PRL opened at $23.66 on Thursday. The firm has a 50 day simple moving average of $33.84 and a 200-day simple moving average of $33.76. Propel has a 1-year low of $14.97 and a 1-year high of $43.36. The stock has a market cap of $658.72 million, a price-to-earnings ratio of 14.64 and a beta of 1.75.

Propel Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, March 5th were given a dividend of $0.66 per share. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $2.64 dividend on an annualized basis and a yield of 11.16%. This is a positive change from Propel’s previous quarterly dividend of $0.15. Propel’s dividend payout ratio (DPR) is 34.64%.

Insider Buying and Selling

In other Propel news, Senior Officer Noah Buchman sold 18,800 shares of Propel stock in a transaction on 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 Propel stock in a transaction on 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 90 days, insiders have sold 54,400 shares of company stock worth $2,009,283. 33.31% of the stock is owned by insiders.

Propel Company Profile

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.