Raymond James Financial Cuts Propel (TSE:PRL) Price Target to C$31.00

Propel (TSE:PRL) had its target price reduced by Raymond James Financial from C$32.00 to C$31.00 in a report issued on Wednesday,BayStreet.CA reports. Raymond James Financial currently has an outperform rating on the stock.

PRL has been the topic of a number of other research reports. Canaccord Genuity Group dropped their price target on shares of Propel from C$37.00 to C$27.00 in a research note on Wednesday, March 4th. ATB Cormark Capital Markets dropped their price target on shares of Propel from C$38.00 to C$27.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 4th. Ventum Financial dropped their price target on shares of Propel from C$4.00 to C$3.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Stifel Nicolaus dropped their price target on shares of Propel from C$38.00 to C$32.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Finally, Scotiabank cut shares of Propel from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the company from C$35.00 to C$27.00 in a research note on Tuesday, April 28th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

Propel Stock Performance

Propel stock opened at $23.49 on Wednesday. The company’s fifty day moving average price is $20.19 and its 200 day moving average price is $22.71. Propel has a 1 year low of $17.24 and a 1 year high of $39.15. The stock has a market capitalization of $924.64 million, a P/E ratio of 16.66 and a beta of 0.56.

Propel Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Wednesday, June 3rd will be issued a $0.24 dividend. This is an increase from Propel’s previous quarterly dividend of $0.23. The ex-dividend date is Friday, May 15th. This represents a $0.96 annualized dividend and a yield of 4.1%. Propel’s payout ratio is presently 38.09%.

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).