Cass Information Systems, Inc. (NASDAQ:CASS) Short Interest Up 5.2% in October

Cass Information Systems, Inc. (NASDAQ:CASS) was the recipient of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 194,900 shares, an increase of 5.2% from the October 15th total of 185,300 shares. Based on an average trading volume of 38,000 shares, the days-to-cover ratio is currently 5.1 days. Approximately 1.6% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

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

Cass Information Systems Stock Down 0.0 %

CASS stock opened at $44.29 on Wednesday. Cass Information Systems has a twelve month low of $37.99 and a twelve month high of $50.25. The company has a market cap of $601.02 million, a price-to-earnings ratio of 26.69 and a beta of 0.70. The business has a 50 day moving average price of $42.18 and a two-hundred day moving average price of $42.02.

Cass Information Systems (NASDAQ:CASS) last issued 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 analyst estimates of $48.99 million. Cass Information Systems had a return on equity of 9.92% and a net margin of 11.52%. On average, equities research analysts anticipate that Cass Information Systems will post 1.48 EPS for the current fiscal year.

Cass Information Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd will be paid a dividend of $0.31 per share. This is an increase from Cass Information Systems’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Tuesday, December 3rd. Cass Information Systems’s payout ratio is currently 72.29%.

Institutional Investors Weigh In On Cass Information Systems

Large investors have recently added to or reduced their stakes in the business. First National Bank of Omaha raised its position in shares of Cass Information Systems by 3.3% in the third quarter. First National Bank of Omaha now owns 9,441 shares of the business services provider’s stock valued at $392,000 after purchasing an additional 300 shares during the period. US Bancorp DE raised its holdings in Cass Information Systems by 5.4% in the 3rd 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 during the period. Commonwealth Equity Services LLC raised its holdings in Cass Information Systems by 2.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 32,147 shares of the business services provider’s stock valued at $1,288,000 after acquiring an additional 808 shares during the period. Copeland Capital Management LLC acquired a new stake in Cass Information Systems during the third quarter worth approximately $37,000. Finally, Tributary Capital Management LLC boosted its holdings in shares of Cass Information Systems by 0.3% during the second quarter. Tributary Capital Management LLC now owns 302,577 shares of the business services provider’s stock worth $12,124,000 after acquiring an additional 912 shares during the period. Institutional investors own 59.08% of the company’s stock.

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.