Cass Information Systems, Inc. (NASDAQ:CASS) Shares Bought by Quest Partners LLC

Quest Partners LLC grew its position in Cass Information Systems, Inc. (NASDAQ:CASS) by 3,445.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,701 shares of the business services provider’s stock after acquiring an additional 6,512 shares during the period. Quest Partners LLC’s holdings in Cass Information Systems were worth $278,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CASS. US Bancorp DE increased its stake in shares of 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 purchasing an additional 360 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in Cass Information Systems by 2.6% in the second quarter. Commonwealth Equity Services LLC now owns 32,147 shares of the business services provider’s stock valued at $1,288,000 after purchasing an additional 808 shares during the period. Copeland Capital Management LLC purchased a new stake in shares of Cass Information Systems in the third quarter valued at approximately $37,000. Tributary Capital Management LLC raised its stake in shares of Cass Information Systems by 0.3% during the 2nd quarter. Tributary Capital Management LLC now owns 302,577 shares of the business services provider’s stock worth $12,124,000 after buying an additional 912 shares during the period. Finally, Ellsworth Advisors LLC lifted its position in shares of Cass Information Systems by 9.4% during 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 in the last quarter. 59.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Piper Sandler boosted their price target on shares of 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 Trading Down 0.6 %

Shares of Cass Information Systems stock opened at $44.54 on Wednesday. Cass Information Systems, Inc. has a twelve month low of $37.99 and a twelve month high of $50.25. The firm has a market capitalization of $604.36 million, a PE ratio of 26.83 and a beta of 0.70. The firm’s 50-day moving average price is $42.56 and its 200 day moving average price is $42.02.

Cass Information Systems (NASDAQ:CASS) last announced its earnings results on Thursday, October 17th. The business services provider reported $0.21 EPS 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 net margin of 11.52% and a return on equity of 9.92%. On average, sell-side analysts predict that Cass Information Systems, Inc. will post 1.48 EPS for the current fiscal year.

Cass Information Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd will be issued a $0.31 dividend. 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 2.78%. This is a positive change from Cass Information Systems’s previous quarterly dividend of $0.30. Cass Information Systems’s dividend payout ratio (DPR) is presently 74.70%.

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.