Propel (TSE:PRL) Downgraded by Scotiabank to “Hold”

Scotiabank lowered shares of Propel (TSE:PRL) from a strong-buy rating to a hold rating in a research report sent to investors on Friday morning,Zacks.com reports.

Several other analysts also recently weighed in on the company. Ventum Cap Mkts upgraded Propel to a “strong-buy” rating in a research note on Tuesday, October 8th. Ventum Financial set a C$38.00 price target on Propel and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Raymond James upped their price target on Propel from C$34.00 to C$40.00 in a research note on Thursday, November 7th. Eight Capital upped their price target on Propel from C$38.00 to C$45.00 in a research note on Friday. Finally, Canaccord Genuity Group upgraded Propel to a “strong-buy” rating in a research note on Friday, October 4th.

Propel Stock Performance

PRL stock opened at $38.18 on Friday. Propel has a fifty-two week low of $8.65 and a fifty-two week high of $40.88. The business’s 50 day moving average price is $31.70 and its two-hundred day moving average price is $25.22. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 26.70 and a beta of 1.75.

Propel Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, December 4th will be given a $0.15 dividend. The ex-dividend date is Friday, November 15th. This is a boost from Propel’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 1.57%. Propel’s dividend payout ratio is 39.16%.

About Propel

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.