Cass Information Systems (NASDAQ:CASS) Shares Gap Down to $44.73

Cass Information Systems, Inc. (NASDAQ:CASS)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $44.73, but opened at $43.45. Cass Information Systems shares last traded at $43.59, with a volume of 3,992 shares trading hands.

Wall Street Analyst Weigh In

CASS has been the topic of several recent analyst reports. 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 raised their target price for the stock from $45.00 to $51.00 in a research report on Monday, February 12th. Finally, StockNews.com lowered shares of Cass Information Systems from a “buy” rating to a “hold” rating in a research report on Wednesday.

Cass Information Systems Stock Performance

The business’s 50-day moving average is $46.83 and its two-hundred day moving average is $43.25. The stock has a market capitalization of $597.13 million, a PE ratio of 20.11 and a beta of 0.73.

Cass Information Systems (NASDAQ:CASS) last released its earnings results on Thursday, January 25th. The business services provider reported $0.61 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $50.74 million during the quarter, compared to the consensus estimate of $48.33 million. Equities analysts forecast that Cass Information Systems, Inc. will post 2.74 EPS for the current year.

Cass Information Systems Dividend Announcement

The company 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. This represents a $1.20 annualized dividend and a dividend yield of 2.74%. The ex-dividend date was Monday, March 4th. Cass Information Systems’s dividend payout ratio (DPR) is presently 55.05%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC purchased a new stake in Cass Information Systems during the 1st quarter worth about $42,000. Tower Research Capital LLC TRC increased its position in Cass Information Systems by 277.1% during the 1st quarter. Tower Research Capital LLC TRC now owns 988 shares of the business services provider’s stock worth $43,000 after purchasing an additional 726 shares in the last quarter. Citigroup Inc. increased its position in Cass Information Systems by 60.4% during the 1st quarter. Citigroup Inc. now owns 1,192 shares of the business services provider’s stock worth $52,000 after purchasing an additional 449 shares in the last quarter. Comerica Bank purchased a new stake in Cass Information Systems during the 3rd quarter worth about $71,000. Finally, Global Retirement Partners LLC purchased a new stake in Cass Information Systems during the 4th quarter worth about $114,000. Institutional investors and hedge funds own 59.08% of the company’s stock.

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.