Propel Holdings Inc. (TSE:PRL) Given Consensus Rating of “Buy” by Brokerages

Propel Holdings Inc. (TSE:PRL) has received a consensus recommendation of “Buy” from the nine brokerages that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company.

A number of research firms have issued reports on PRL. TD Securities upgraded shares of Propel to a “strong-buy” rating in a research report on Tuesday, July 14th. Scotia lifted their price target on shares of Propel from C$27.00 to C$29.00 and gave the stock a “sector perform” rating in a research report on Friday, August 7th. TD boosted their price target on shares of Propel from C$33.00 to C$37.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Ventum increased their price objective on shares of Propel from C$30.00 to C$34.00 and gave the company a “buy” rating in a report on Friday, August 7th. Finally, Stifel Nicolaus raised their price objective on shares of Propel from C$34.00 to C$38.00 and gave the company a “buy” rating in a research note on Friday, August 7th.

Propel Stock Up 0.2%

Propel stock opened at $24.90 on Wednesday. The business’s 50-day simple moving average is $25.33 and its 200 day simple moving average is $22.71. The stock has a market cap of $980.39 million, a price-to-earnings ratio of 18.18 and a beta of 0.79. Propel has a 12-month low of $17.24 and a 12-month high of $35.28.

Propel Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, September 3rd will be paid a $0.255 dividend. This is an increase from Propel’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 4.1%. Propel’s dividend payout ratio (DPR) is currently 46.03%.

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).