Barclays PLC Increases Position in Cass Information Systems, Inc. (NASDAQ:CASS)

Barclays PLC increased its stake in Cass Information Systems, Inc. (NASDAQ:CASS) by 364.9% in the 3rd quarter, Holdings Channel reports. The fund owned 21,938 shares of the business services provider’s stock after buying an additional 17,219 shares during the quarter. Barclays PLC’s holdings in Cass Information Systems were worth $910,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CASS. Copeland Capital Management LLC purchased a new position in Cass Information Systems in the third quarter worth $37,000. SG Americas Securities LLC purchased a new position in Cass Information Systems in the third quarter worth $200,000. Creative Planning purchased a new stake in Cass Information Systems during the third quarter valued at about $205,000. Renaissance Technologies LLC purchased a new stake in Cass Information Systems during the second quarter valued at about $251,000. Finally, BNP Paribas Financial Markets boosted its position in Cass Information Systems by 27.9% during the third quarter. BNP Paribas Financial Markets now owns 6,387 shares of the business services provider’s stock valued at $265,000 after buying an additional 1,394 shares during the period. 59.08% of the stock is currently owned by hedge funds and other institutional investors.

Cass Information Systems Stock Down 1.0 %

NASDAQ CASS opened at $40.63 on Tuesday. The company has a 50-day simple moving average of $43.57 and a two-hundred day simple moving average of $42.05. Cass Information Systems, Inc. has a 12-month low of $37.99 and a 12-month high of $50.25. The firm has a market cap of $551.31 million, a price-to-earnings ratio of 24.48 and a beta of 0.72.

Cass Information Systems (NASDAQ:CASS) last posted 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 firm had revenue of $50.55 million for 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%. Equities analysts expect that Cass Information Systems, Inc. will post 1.48 earnings per share for the current fiscal 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 issued a dividend of $0.31 per share. This is a positive change from Cass Information Systems’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend was Tuesday, December 3rd. Cass Information Systems’s dividend payout ratio is currently 74.70%.

Analysts Set New Price Targets

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

Cass Information Systems 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.