Cass Information Systems (NASDAQ:CASS) Cut 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 report issued on Wednesday.

Several other research firms have also weighed in on CASS. TheStreet lowered shares of Cass Information Systems from a b- rating to a c rating in a research note on Thursday, January 25th. Piper Sandler upgraded shares of Cass Information Systems from a neutral rating to an overweight rating and upped their price objective for the company from $45.00 to $51.00 in a research note on Monday, February 12th.

Cass Information Systems Stock Performance

Shares of NASDAQ:CASS opened at $41.65 on Wednesday. The company has a market cap of $567.77 million, a PE ratio of 19.11 and a beta of 0.73. The firm has a 50 day simple moving average of $46.80 and a 200 day simple moving average of $43.29. Cass Information Systems has a 52 week low of $35.05 and a 52 week high of $50.25.

Cass Information Systems (NASDAQ:CASS) last released its quarterly earnings data 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. The firm had revenue of $50.74 million for the quarter, compared to analyst estimates of $48.33 million. Cass Information Systems had a net margin of 15.22% and a return on equity of 13.84%. On average, equities analysts predict that Cass Information Systems will post 2.74 earnings per share for the current year.

Cass Information Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were paid 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 2.88%. Cass Information Systems’s dividend payout ratio (DPR) is 55.05%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CASS. Swiss National Bank increased 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 purchasing an additional 1,300 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in Cass Information Systems in the 1st quarter valued at $1,266,000. Bank of New York Mellon Corp grew its stake in Cass Information Systems by 1.0% in the 1st quarter. Bank of New York Mellon Corp now owns 101,668 shares of the business services provider’s stock valued at $3,752,000 after buying an additional 963 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Cass Information Systems in the 1st quarter valued at $42,000. Finally, MetLife Investment Management LLC grew its stake in 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 valued at $315,000 after buying an additional 2,833 shares during the last quarter. Institutional investors and hedge funds own 59.08% of the company’s stock.

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.