Cass Information Systems, Inc. (NASDAQ:CASS – Get Free Report) saw a large drop in short interest during the month of September. As of September 15th, there was short interest totalling 199,600 shares, a drop of 6.5% from the August 31st total of 213,400 shares. Approximately 1.6% of the shares of the company are sold short. Based on an average daily trading volume, of 49,900 shares, the days-to-cover ratio is presently 4.0 days.
Institutional Investors Weigh In On Cass Information Systems
Large investors have recently added to or reduced their stakes in the stock. Dumont & Blake Investment Advisors LLC bought a new stake in shares of Cass Information Systems during the 1st quarter valued at $207,000. Compass Ion Advisors LLC bought a new stake in Cass Information Systems during the first quarter worth about $223,000. Renaissance Technologies LLC acquired a new stake in Cass Information Systems during the second quarter worth about $251,000. Janney Montgomery Scott LLC increased its holdings in Cass Information Systems by 47.1% in the 1st 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 period. Finally, Ellsworth Advisors LLC increased its holdings in Cass Information Systems by 9.4% in the 2nd quarter. Ellsworth Advisors LLC now owns 10,809 shares of the business services provider’s stock valued at $433,000 after buying an additional 930 shares during the period. Institutional investors and hedge funds own 59.08% of the company’s stock.
Cass Information Systems Price Performance
Shares of NASDAQ CASS opened at $41.48 on Tuesday. The stock’s fifty day moving average price is $41.37 and its two-hundred day moving average price is $42.82. Cass Information Systems has a one year low of $35.50 and a one year high of $50.25. The firm has a market cap of $565.95 million, a price-to-earnings ratio of 18.94 and a beta of 0.71.
Cass Information Systems Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were given a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.89%. Cass Information Systems’s payout ratio is 54.79%.
Analyst Ratings Changes
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 report on Monday, July 22nd.
Get Our Latest Report on Cass Information Systems
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.
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