Commerce Bank Has $3.50 Million Stock Position in Cass Information Systems, Inc. (NASDAQ:CASS)

Commerce Bank lifted its stake in shares of Cass Information Systems, Inc. (NASDAQ:CASS) by 60.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 77,634 shares of the business services provider’s stock after buying an additional 29,252 shares during the period. Commerce Bank’s holdings in Cass Information Systems were worth $3,497,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Global Retirement Partners LLC acquired a new stake in shares of Cass Information Systems during the 4th quarter worth $114,000. SG Americas Securities LLC acquired a new stake in shares of Cass Information Systems during the 4th quarter worth $173,000. PNC Financial Services Group Inc. lifted its position in shares of Cass Information Systems by 7.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 6,725 shares of the business services provider’s stock worth $251,000 after buying an additional 490 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of Cass Information Systems during the 4th quarter worth $390,000. Finally, Trust Point Inc. bought a new stake in shares of Cass Information Systems during the 4th quarter worth $460,000. 59.08% of the stock is owned by institutional investors and hedge funds.

Cass Information Systems Stock Down 0.6 %

Shares of CASS stock opened at $43.48 on Monday. Cass Information Systems, Inc. has a twelve month low of $35.50 and a twelve month high of $50.25. The company has a market cap of $593.07 million, a P/E ratio of 19.85 and a beta of 0.75. The business has a fifty day simple moving average of $45.26 and a 200 day simple moving average of $44.52.

Cass Information Systems (NASDAQ:CASS) last posted its earnings results on Thursday, April 18th. The business services provider reported $0.52 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.07). The firm had revenue of $49.68 million during the quarter, compared to the consensus estimate of $50.68 million. Cass Information Systems had a net margin of 15.21% and a return on equity of 13.67%. As a group, equities research analysts anticipate that Cass Information Systems, Inc. will post 2.35 earnings per share for the current fiscal year.

Cass Information Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Tuesday, June 4th will be given a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $1.20 annualized dividend and a yield of 2.76%. Cass Information Systems’s dividend payout ratio is presently 54.79%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CASS shares. Piper Sandler upgraded Cass Information Systems from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $45.00 to $51.00 in a research report on Monday, February 12th. StockNews.com downgraded Cass Information Systems from a “buy” rating to a “hold” rating in a research report on Saturday, April 27th.

Cass Information Systems Company 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.