BNP Paribas Financial Markets Has $265,000 Holdings in Cass Information Systems, Inc. (NASDAQ:CASS)

BNP Paribas Financial Markets lifted its stake in shares of Cass Information Systems, Inc. (NASDAQ:CASS) by 27.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,387 shares of the business services provider’s stock after buying an additional 1,394 shares during the quarter. BNP Paribas Financial Markets’ holdings in Cass Information Systems were worth $265,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Foundry Partners LLC grew its stake in shares of Cass Information Systems by 12.1% in the 3rd quarter. Foundry Partners LLC now owns 122,405 shares of the business services provider’s stock valued at $5,077,000 after buying an additional 13,180 shares during the period. Tributary Capital Management LLC boosted its holdings in Cass Information Systems by 5.3% in the third quarter. Tributary Capital Management LLC now owns 318,496 shares of the business services provider’s stock worth $13,211,000 after acquiring an additional 15,919 shares in the last quarter. Speece Thorson Capital Group Inc. boosted its holdings 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 worth $12,672,000 after acquiring an additional 83,414 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Cass Information Systems by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 103,609 shares of the business services provider’s stock valued at $4,298,000 after acquiring an additional 1,148 shares during the period. Finally, US Bancorp DE increased its holdings in shares of Cass Information Systems by 5.4% during the third quarter. US Bancorp DE now owns 7,078 shares of the business services provider’s stock valued at $294,000 after acquiring an additional 360 shares in the last quarter. Institutional investors own 59.08% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Cass Information Systems Stock Down 0.5 %

Shares of NASDAQ:CASS opened at $43.84 on Monday. The business’s 50 day moving average is $43.39 and its 200 day moving average is $42.03. Cass Information Systems, Inc. has a 12-month low of $37.99 and a 12-month high of $50.25. The stock has a market cap of $594.91 million, a price-to-earnings ratio of 26.41 and a beta of 0.72.

Cass Information Systems (NASDAQ:CASS) last announced its earnings results on Thursday, October 17th. The business services provider reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.29). The business had revenue of $50.55 million during the quarter, compared to analysts’ expectations of $48.99 million. Cass Information Systems had a return on equity of 9.92% and a net margin of 11.52%. As a group, equities research analysts expect that Cass Information Systems, Inc. will post 1.48 earnings per share for the current year.

Cass Information Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.31 per share. The ex-dividend date was Tuesday, December 3rd. This is a positive change from Cass Information Systems’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 2.83%. Cass Information Systems’s dividend payout ratio (DPR) is currently 74.70%.

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.