Cass Information Systems, Inc. (NASDAQ:CASS) Shares Purchased by Raymond James & Associates

Raymond James & Associates boosted its stake in Cass Information Systems, Inc. (NASDAQ:CASS) by 17.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,405 shares of the business services provider’s stock after buying an additional 5,905 shares during the period. Raymond James & Associates owned 0.29% of Cass Information Systems worth $1,775,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new stake in Cass Information Systems in the first quarter worth $42,000. Tower Research Capital LLC TRC increased its position in Cass Information Systems by 277.1% in the first quarter. Tower Research Capital LLC TRC now owns 988 shares of the business services provider’s stock worth $43,000 after buying an additional 726 shares during the period. Citigroup Inc. increased its position in Cass Information Systems by 60.4% in the first quarter. Citigroup Inc. now owns 1,192 shares of the business services provider’s stock worth $52,000 after buying an additional 449 shares during the period. Comerica Bank acquired a new stake in Cass Information Systems in the third quarter worth $71,000. Finally, Lazard Asset Management LLC increased its position in Cass Information Systems by 10.2% in the third quarter. Lazard Asset Management LLC now owns 3,346 shares of the business services provider’s stock worth $124,000 after buying an additional 310 shares during the period. 59.08% of the stock is owned by institutional investors and hedge funds.

Cass Information Systems Stock Performance

Shares of CASS opened at $44.73 on Thursday. The stock’s fifty day moving average is $46.83 and its 200-day moving average is $43.25. Cass Information Systems, Inc. has a one year low of $35.05 and a one year high of $50.25. The firm has a market capitalization of $609.67 million, a price-to-earnings ratio of 20.52 and a beta of 0.73.

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

Cass Information Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were given a $0.30 dividend. The ex-dividend date of this dividend 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%.

Analyst Ratings Changes

A number of brokerages have recently commented on CASS. Piper Sandler raised Cass Information Systems from a “neutral” rating to an “overweight” rating and raised their price target for the company from $45.00 to $51.00 in a report on Monday, February 12th. StockNews.com lowered Cass Information Systems from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, TheStreet lowered Cass Information Systems from a “b-” rating to a “c” rating in a report on Thursday, January 25th.

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.