Canaccord Genuity Group Cuts Propel (TSE:PRL) Price Target to C$27.00

Propel (TSE:PRL) had its target price lowered by Canaccord Genuity Group from C$37.00 to C$27.00 in a research note issued to investors on Wednesday morning,BayStreet.CA reports.

PRL has been the topic of a number of other reports. Scotiabank reduced their price target on shares of Propel from C$40.00 to C$38.00 in a research report on Wednesday, November 5th. Raymond James Financial dropped their price objective on Propel from C$42.00 to C$35.00 in a research note 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. Finally, Ventum Financial decreased their target price on Propel from C$42.00 to C$40.00 in a research note on Thursday, November 6th. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy”.

Propel Price Performance

Propel stock opened at $20.07 on Wednesday. The firm has a market capitalization of $789.83 million, a price-to-earnings ratio of 12.87 and a beta of 0.35. The company’s 50 day simple moving average is $23.56 and its 200 day simple moving average is $25.89. Propel has a fifty-two week low of $17.50 and a fifty-two week high of $39.15.

Propel Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Wednesday, March 4th were given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 4.5%. This is an increase from Propel’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Friday, February 20th. Propel’s payout ratio is currently 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).