Cass Information Systems (NASDAQ:CASS) Stock Price Down 3.4% – What’s Next?

Cass Information Systems, Inc. (NASDAQ:CASS) shares traded down 3.4% during trading on Friday . The company traded as low as $40.75 and last traded at $40.75. 6,059 shares were traded during mid-day trading, a decline of 85% from the average session volume of 41,012 shares. The stock had previously closed at $42.17.

Wall Street Analyst Weigh In

Separately, Piper Sandler raised their price objective on shares of Cass Information Systems from $44.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday.

Cass Information Systems Trading Down 4.5 %

The firm has a 50-day simple moving average of $41.52 and a two-hundred day simple moving average of $42.25. The stock has a market cap of $549.72 million, a P/E ratio of 18.40 and a beta of 0.70.

Cass Information Systems (NASDAQ:CASS) last posted its quarterly earnings data on Thursday, July 18th. The business services provider reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.21). Cass Information Systems had a net margin of 13.84% and a return on equity of 12.26%. The business had revenue of $48.59 million during the quarter, compared to the consensus estimate of $50.00 million. Sell-side analysts predict that Cass Information Systems, Inc. will post 1.85 earnings per share for the current year.

Cass Information Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, December 3rd will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.24 dividend on an annualized basis and a yield of 3.08%. This is an increase from Cass Information Systems’s previous quarterly dividend of $0.30. Cass Information Systems’s dividend payout ratio is currently 54.79%.

Hedge Funds Weigh In On Cass Information Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CASS. SG Americas Securities LLC bought a new position in shares of Cass Information Systems in the third quarter worth $200,000. Creative Planning bought a new stake in shares of Cass Information Systems during the 3rd quarter worth approximately $205,000. Dumont & Blake Investment Advisors LLC bought a new stake in shares of Cass Information Systems during the 1st quarter worth approximately $207,000. Compass Ion Advisors LLC acquired a new stake in shares of Cass Information Systems during the 1st quarter worth approximately $223,000. Finally, Renaissance Technologies LLC bought a new position in Cass Information Systems in the second quarter valued at approximately $251,000. 59.08% of the stock is 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.