Cass Information Systems (NASDAQ:CASS) Stock Price Up 5.2% – Still a Buy?

Cass Information Systems, Inc. (NASDAQ:CASS) traded up 5.2% on Thursday . The company traded as high as $44.21 and last traded at $44.21. 2,481 shares changed hands during trading, a decline of 94% from the average session volume of 41,148 shares. The stock had previously closed at $42.02.

Analyst Upgrades and Downgrades

Separately, Piper Sandler raised their price objective on Cass Information Systems from $44.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, October 18th.

Cass Information Systems Trading Down 0.6 %

The company has a 50-day moving average of $43.59 and a 200-day moving average of $42.05. The firm has a market capitalization of $569.76 million, a P/E ratio of 25.30 and a beta of 0.72.

Cass Information Systems (NASDAQ:CASS) last released its quarterly earnings results on Thursday, October 17th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.29). The firm had revenue of $50.55 million for the quarter, compared to the consensus estimate of $48.99 million. Cass Information Systems had a return on equity of 9.92% and a net margin of 11.52%. Research analysts predict that Cass Information Systems, Inc. will post 1.48 EPS for the current year.

Cass Information Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd were paid a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This is an increase from Cass Information Systems’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 2.95%. Cass Information Systems’s dividend payout ratio (DPR) is currently 74.70%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Foundry Partners LLC raised its holdings in shares of Cass Information Systems by 12.1% in the third quarter. Foundry Partners LLC now owns 122,405 shares of the business services provider’s stock valued at $5,077,000 after purchasing an additional 13,180 shares during the last quarter. Tributary Capital Management LLC grew its position in Cass Information Systems by 5.3% during the third quarter. Tributary Capital Management LLC now owns 318,496 shares of the business services provider’s stock valued at $13,211,000 after buying an additional 15,919 shares during the period. Speece Thorson Capital Group Inc. boosted its stake in Cass Information Systems by 37.6% in the third quarter. Speece Thorson Capital Group Inc. now owns 305,495 shares of the business services provider’s stock valued at $12,672,000 after acquiring an additional 83,414 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Cass Information Systems by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 103,609 shares of the business services provider’s stock worth $4,298,000 after purchasing an additional 1,148 shares during the last quarter. Finally, US Bancorp DE lifted its stake in Cass Information Systems by 5.4% in the third quarter. US Bancorp DE now owns 7,078 shares of the business services provider’s stock valued at $294,000 after purchasing an additional 360 shares during the last quarter. 59.08% of the stock is currently owned by institutional investors and hedge funds.

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.