Cass Information Systems (NASDAQ:CASS) Stock Price Passes Below 200-Day Moving Average of $37.24

Cass Information Systems, Inc. (NASDAQ:CASSGet Rating) shares passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $37.24 and traded as low as $35.86. Cass Information Systems shares last traded at $36.24, with a volume of 55,607 shares changing hands.

Cass Information Systems Stock Down 0.6 %

The firm has a market cap of $494.78 million, a PE ratio of 16.11 and a beta of 0.60. The firm’s 50 day moving average is $34.27 and its 200-day moving average is $37.24.

Cass Information Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Friday, September 2nd will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Thursday, September 1st. Cass Information Systems’s payout ratio is 49.78%.

Hedge Funds Weigh In On Cass Information Systems

Several institutional investors and hedge funds have recently modified their holdings of the company. Engineers Gate Manager LP raised its stake in Cass Information Systems by 3.9% during the first quarter. Engineers Gate Manager LP now owns 10,479 shares of the business services provider’s stock worth $387,000 after purchasing an additional 393 shares during the period. Invesco Ltd. raised its stake in Cass Information Systems by 2.2% during the first quarter. Invesco Ltd. now owns 22,546 shares of the business services provider’s stock worth $832,000 after purchasing an additional 494 shares during the period. New Century Advisors LLC purchased a new position in Cass Information Systems during the fourth quarter worth approximately $29,000. Bank of New York Mellon Corp raised its stake in Cass Information Systems by 1.0% during the first quarter. Bank of New York Mellon Corp now owns 101,668 shares of the business services provider’s stock worth $3,752,000 after purchasing an additional 963 shares during the period. Finally, FinTrust Capital Advisors LLC raised its stake in Cass Information Systems by 61.1% during the first quarter. FinTrust Capital Advisors LLC now owns 2,875 shares of the business services provider’s stock worth $106,000 after purchasing an additional 1,090 shares during the period. Hedge funds and other institutional investors own 59.92% of the company’s stock.

Cass Information Systems Company Profile

(Get Rating)

Cass Information Systems, Inc provides payment and information processing services to manufacturing, distribution, and retail enterprises in the United States. It operates through two segments, Information Services and Banking Services. The company's services include freight invoice rating, payment processing, auditing, and the generation of accounting and transportation information.

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