Cass Information Systems (NASDAQ:CASS) Lowered to “Hold” at StockNews.com

StockNews.com cut shares of Cass Information Systems (NASDAQ:CASS) from a buy rating to a hold rating in a research report report published on Wednesday morning.

Several other analysts have also recently issued reports on CASS. Piper Sandler raised shares of Cass Information Systems from a neutral rating to an overweight rating and upped their price target for the company from $45.00 to $51.00 in a report on Monday, February 12th. TheStreet cut shares of Cass Information Systems from a b- rating to a c rating in a report on Thursday, January 25th.

Cass Information Systems Trading Down 1.3 %

Shares of CASS stock opened at $44.73 on Wednesday. The company has a market capitalization of $609.67 million, a PE ratio of 20.52 and a beta of 0.73. The firm has a fifty day simple moving average of $46.83 and a 200-day simple moving average of $43.25. Cass Information Systems has a twelve month low of $35.05 and a twelve month high of $50.25.

Cass Information Systems (NASDAQ:CASS) last posted its quarterly earnings results on Thursday, January 25th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.13. The firm had revenue of $50.74 million for the quarter, compared to analysts’ expectations of $48.33 million. Cass Information Systems had a net margin of 15.22% and a return on equity of 13.84%. Equities research analysts predict that Cass Information Systems will post 2.74 EPS for the current year.

Cass Information Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders 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 dividend on an annualized basis and a dividend yield of 2.68%. Cass Information Systems’s dividend payout ratio (DPR) is 55.05%.

Institutional Trading of Cass Information Systems

Institutional investors and hedge funds have recently modified their holdings of the business. GSA Capital Partners LLP acquired a new stake in shares of Cass Information Systems during the third quarter worth $1,578,000. Trust Point Inc. acquired a new stake in shares of Cass Information Systems during the fourth quarter worth $460,000. PNC Financial Services Group Inc. raised its holdings in shares of Cass Information Systems by 7.9% during the third quarter. PNC Financial Services Group Inc. now owns 6,725 shares of the business services provider’s stock worth $251,000 after purchasing an additional 490 shares during the period. Keeley Teton Advisors LLC raised its holdings in shares of Cass Information Systems by 18.7% during the third quarter. Keeley Teton Advisors LLC now owns 95,770 shares of the business services provider’s stock worth $3,567,000 after purchasing an additional 15,064 shares during the period. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Cass Information Systems during the fourth quarter worth $390,000. 59.08% of the stock is owned by institutional investors and hedge funds.

About Cass Information Systems

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.