Cass Information Systems (NASDAQ:CASS) Stock Price Crosses Above Two Hundred Day Moving Average of $43.29

Cass Information Systems, Inc. (NASDAQ:CASS – Get Rating) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $43.29 and traded as high as $46.16. Cass Information Systems shares last traded at $45.81, with a volume of 47,837 shares trading hands.

Wall Street Analyst Weigh In

Separately, Piper Sandler assumed coverage on Cass Information Systems in a research note on Tuesday, December 6th. They set a “neutral” rating and a $45.00 target price on the stock.

Cass Information Systems Stock Performance

The stock has a 50-day moving average of $48.69 and a 200 day moving average of $43.29. The firm has a market capitalization of $628.06 million, a P/E ratio of 18.11 and a beta of 0.63.

Cass Information Systems (NASDAQ:CASS – Get Rating) last issued its quarterly earnings data on Thursday, January 19th. The business services provider reported $0.67 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.04). The business had revenue of $48.95 million for the quarter, compared to analyst estimates of $49.50 million. Cass Information Systems had a return on equity of 17.01% and a net margin of 19.13%. On average, equities analysts predict that Cass Information Systems, Inc. will post 3.07 EPS for the current year.

Cass Information Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Friday, March 3rd were given a $0.29 dividend. The ex-dividend date was Thursday, March 2nd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.53%. Cass Information Systems’s payout ratio is 45.85%.

Institutional Trading of Cass Information Systems

Several institutional investors have recently modified their holdings of CASS. Swiss National Bank grew its position in shares of Cass Information Systems by 4.3% during the 1st quarter. Swiss National Bank now owns 31,452 shares of the business services provider’s stock valued at $1,161,000 after acquiring an additional 1,300 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in Cass Information Systems in the 1st quarter worth $1,266,000. Bank of New York Mellon Corp grew its holdings in shares of Cass Information Systems by 1.0% during the 1st quarter. Bank of New York Mellon Corp now owns 101,668 shares of the business services provider’s stock worth $3,752,000 after acquiring an additional 963 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Cass Information Systems in the 1st quarter worth approximately $42,000. Finally, MetLife Investment Management LLC boosted its position in shares of Cass Information Systems by 49.7% in the 1st quarter. MetLife Investment Management LLC now owns 8,536 shares of the business services provider’s stock worth $315,000 after purchasing an additional 2,833 shares in the last quarter. Institutional investors own 56.15% of the company’s stock.

About Cass Information Systems

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Cass Information Systems, Inc engages in the provision of integrated information and payment management solutions. It operates through the following segments: Information Services, Banking Services, and Corporate, Eliminations, and Other. The Information Services segment offers transportation, energy, telecommunication, and environmental invoice processing and payment services to large corporations.