Dimensional Fund Advisors LP Trims Stock Position in Cass Information Systems, Inc. (NASDAQ:CASS)

Dimensional Fund Advisors LP cut its holdings in Cass Information Systems, Inc. (NASDAQ:CASS) by 2.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 421,056 shares of the business services provider’s stock after selling 9,437 shares during the period. Dimensional Fund Advisors LP’s holdings in Cass Information Systems were worth $16,872,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Dumont & Blake Investment Advisors LLC acquired a new position in shares of Cass Information Systems in the 1st quarter valued at $207,000. Compass Ion Advisors LLC purchased a new stake in Cass Information Systems in the 1st quarter valued at about $223,000. Janney Montgomery Scott LLC lifted its position in Cass Information Systems by 47.1% in the first quarter. Janney Montgomery Scott LLC now owns 6,546 shares of the business services provider’s stock valued at $315,000 after buying an additional 2,097 shares during the last quarter. Ellsworth Advisors LLC boosted its stake in Cass Information Systems by 9.4% during the second quarter. Ellsworth Advisors LLC now owns 10,809 shares of the business services provider’s stock worth $433,000 after buying an additional 930 shares during the period. Finally, BNP Paribas Financial Markets increased its position in shares of Cass Information Systems by 11.1% during the first quarter. BNP Paribas Financial Markets now owns 11,164 shares of the business services provider’s stock valued at $538,000 after acquiring an additional 1,112 shares during the last quarter. 59.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Piper Sandler reissued an “overweight” rating and issued a $44.00 price target (down from $47.00) on shares of Cass Information Systems in a research note on Monday, July 22nd.

Cass Information Systems Stock Up 1.5 %

CASS opened at $40.49 on Friday. Cass Information Systems, Inc. has a 52 week low of $36.22 and a 52 week high of $50.25. The business has a fifty day simple moving average of $41.35 and a 200-day simple moving average of $42.67. The firm has a market cap of $552.45 million, a P/E ratio of 18.49 and a beta of 0.70.

Cass Information Systems (NASDAQ:CASS) last announced its earnings results on Thursday, July 18th. The business services provider reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.21). The firm had revenue of $48.59 million for the quarter, compared to analysts’ expectations of $50.00 million. Cass Information Systems had a net margin of 13.84% and a return on equity of 12.26%. Sell-side analysts expect that Cass Information Systems, Inc. will post 1.86 earnings per share for the current year.

Cass Information Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date was Tuesday, September 3rd. Cass Information Systems’s dividend payout ratio (DPR) is currently 54.79%.

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.