International Assets Investment Management LLC Purchases Shares of 10,139 Cass Information Systems, Inc. (NASDAQ:CASS)

International Assets Investment Management LLC purchased a new stake in shares of Cass Information Systems, Inc. (NASDAQ:CASS) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 10,139 shares of the business services provider’s stock, valued at approximately $4,570,000. International Assets Investment Management LLC owned approximately 0.07% of Cass Information Systems as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Swiss National Bank boosted its stake 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 worth $1,161,000 after acquiring an additional 1,300 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Cass Information Systems during the 1st quarter worth $1,266,000. Bank of New York Mellon Corp boosted its stake 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 in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Cass Information Systems during the 1st quarter worth $42,000. Finally, MetLife Investment Management LLC boosted its stake in shares of Cass Information Systems by 49.7% during the 1st quarter. MetLife Investment Management LLC now owns 8,536 shares of the business services provider’s stock worth $315,000 after acquiring an additional 2,833 shares in the last quarter. 59.08% of the stock is owned by institutional investors.

Cass Information Systems Stock Up 0.5 %

CASS opened at $45.33 on Wednesday. The stock has a fifty day moving average of $46.80 and a 200-day moving average of $43.24. The firm has a market capitalization of $617.85 million, a P/E ratio of 20.79 and a beta of 0.73. Cass Information Systems, Inc. has a 12-month low of $35.05 and a 12-month high of $50.25.

Cass Information Systems (NASDAQ:CASS) last released its earnings results on Thursday, January 25th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.13. The company had revenue of $50.74 million during the quarter, compared to analyst estimates of $48.33 million. Cass Information Systems had a return on equity of 13.84% and a net margin of 15.22%. On average, analysts expect that Cass Information Systems, Inc. will post 2.74 earnings per share for the current fiscal year.

Cass Information Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were issued a dividend of $0.30 per share. The ex-dividend date was Monday, March 4th. This represents a $1.20 annualized dividend and a dividend yield of 2.65%. Cass Information Systems’s dividend payout ratio is 55.05%.

Wall Street Analysts Forecast Growth

CASS has been the subject of several research reports. StockNews.com raised Cass Information Systems from a “hold” rating to a “buy” rating in a research note on Friday, March 8th. Piper Sandler upgraded Cass Information Systems from a “neutral” rating to an “overweight” rating and increased their target price for the company from $45.00 to $51.00 in a report on Monday, February 12th. Finally, TheStreet lowered Cass Information Systems from a “b-” rating to a “c” rating in a report on Thursday, January 25th.

Cass Information Systems Profile

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