Cass Information Systems (NASDAQ:CASS) Lowered to “Hold” at StockNews.com

StockNews.com downgraded shares of Cass Information Systems (NASDAQ:CASSFree Report) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

Several other research firms have also issued reports on CASS. Piper Sandler upgraded shares of Cass Information Systems from a neutral rating to an overweight rating and raised their price target for the stock from $45.00 to $51.00 in a report on Monday, February 12th. TheStreet lowered shares of Cass Information Systems from a b- rating to a c rating in a report on Thursday, January 25th.

Read Our Latest Stock Analysis on CASS

Cass Information Systems Price Performance

NASDAQ:CASS opened at $47.17 on Tuesday. The firm’s 50 day simple moving average is $44.37 and its 200 day simple moving average is $40.77. Cass Information Systems has a one year low of $35.05 and a one year high of $50.44. The company has a market cap of $641.51 million, a PE ratio of 21.64 and a beta of 0.72.

Cass Information Systems (NASDAQ:CASSGet Free Report) last posted its earnings results on Thursday, January 25th. The business services provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.48 by $0.13. Cass Information Systems had a net margin of 15.22% and a return on equity of 14.11%. The business had revenue of $50.74 million for the quarter, compared to the consensus estimate of $48.33 million. Equities research analysts expect that Cass Information Systems will post 2.74 EPS for the current year.

Cass Information Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Monday, March 4th. This represents a $1.20 annualized dividend and a dividend yield of 2.54%. Cass Information Systems’s dividend payout ratio is currently 55.05%.

Institutional Trading of Cass Information Systems

Hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC bought a new stake in shares of Cass Information Systems in the 1st quarter valued at $42,000. Tower Research Capital LLC TRC increased its stake in shares of Cass Information Systems by 277.1% in the 1st quarter. Tower Research Capital LLC TRC now owns 988 shares of the business services provider’s stock valued at $43,000 after acquiring an additional 726 shares in the last quarter. Citigroup Inc. increased its stake in shares of Cass Information Systems by 60.4% in the 1st quarter. Citigroup Inc. now owns 1,192 shares of the business services provider’s stock valued at $52,000 after acquiring an additional 449 shares in the last quarter. Comerica Bank acquired a new stake in Cass Information Systems in the 3rd quarter valued at $71,000. Finally, Global Retirement Partners LLC acquired a new stake in Cass Information Systems in the 4th quarter valued at $114,000. Institutional investors own 57.60% of the company’s stock.

Cass Information Systems Company Profile

(Get Free Report)

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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