Cass Information Systems, Inc (NASDAQ:CASS) Announces Quarterly Dividend of $0.32

Cass Information Systems, Inc (NASDAQ:CASS) announced a quarterly dividend on Tuesday, April 21st. Investors of record on Friday, June 5th will be paid a dividend of 0.32 per share by the business services provider on Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Friday, June 5th.

Cass Information Systems has increased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 23 years. Cass Information Systems has a dividend payout ratio of 41.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Cass Information Systems to earn $3.55 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 36.1%.

Cass Information Systems Trading Down 3.2%

Shares of CASS traded down $1.53 on Thursday, reaching $46.94. 120,280 shares of the company’s stock traded hands, compared to its average volume of 76,898. The stock has a market cap of $605.90 million, a PE ratio of 17.92 and a beta of 0.42. The stock’s 50 day simple moving average is $45.06 and its two-hundred day simple moving average is $42.86. Cass Information Systems has a 52-week low of $36.07 and a 52-week high of $48.76.

Cass Information Systems (NASDAQ:CASS) last issued its quarterly earnings results on Thursday, April 23rd. The business services provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.04. The company had revenue of $26.16 million during the quarter, compared to the consensus estimate of $49.40 million. Cass Information Systems had a return on equity of 13.28% and a net margin of 18.41%. Analysts forecast that Cass Information Systems will post 2.9 earnings per share for the current year.

Analyst Ratings Changes

CASS has been the subject of a number of research analyst reports. Weiss Ratings raised Cass Information Systems from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, April 1st. Raymond James Financial reissued an “outperform” rating and issued a $50.00 target price on shares of Cass Information Systems in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $50.00.

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. The company also processes and pays facility-related invoices, such as electricity, gas, waste, and telecommunications expenses; and provides telecom expense management solutions, as well as church management software solution and on-line platform to provide generosity services for faith-based and non-profit organizations.