ATB Cormark Capital Markets Cuts Propel (TSE:PRL) Price Target to C$27.00

Propel (TSE:PRL) had its price objective lowered by ATB Cormark Capital Markets from C$38.00 to C$27.00 in a research note released on Wednesday,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other analysts also recently commented on the stock. Ventum Financial lowered their target price on shares of Propel from C$4.00 to C$3.00 and set a “buy” rating for the company in a report on Wednesday. Raymond James Financial cut their price target on shares of Propel from C$42.00 to C$35.00 in a report on Wednesday, November 5th. Stifel Nicolaus set a C$38.00 price objective on shares of Propel and gave the stock a “buy” rating in a research report on Thursday, December 4th. Canaccord Genuity Group decreased their price objective on shares of Propel from C$37.00 to C$27.00 in a research note on Wednesday. Finally, Scotiabank dropped their target price on shares of Propel from C$40.00 to C$38.00 in a research report on Wednesday, November 5th. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Propel currently has an average rating of “Buy”.

Propel Trading Down 5.1%

Shares of TSE:PRL opened at $20.07 on Wednesday. The stock has a market cap of $789.83 million, a PE ratio of 12.87 and a beta of 0.35. The stock’s fifty day simple moving average is $23.56 and its two-hundred day simple moving average is $25.89. Propel has a 1-year low of $17.50 and a 1-year high of $39.15.

Propel Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Wednesday, March 4th were given a $0.225 dividend. This is a positive change from Propel’s previous quarterly dividend of $0.21. This represents a $0.90 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Friday, February 20th. Propel’s 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).