Barclays PLC Has $310,000 Stock Position in Cass Information Systems, Inc. (NASDAQ:CASS)

Barclays PLC trimmed its position in shares of Cass Information Systems, Inc. (NASDAQ:CASS – Free Report) by 9.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 8,342 shares of the business services provider’s stock after selling 863 shares during the quarter. Barclays PLC’s holdings in Cass Information Systems were worth $310,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its stake in shares of Cass Information Systems by 1.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 120,551 shares of the business services provider’s stock valued at $4,491,000 after purchasing an additional 1,202 shares during the period. Raymond James & Associates grew its stake in shares of Cass Information Systems by 29.3% in the 3rd quarter. Raymond James & Associates now owns 33,500 shares of the business services provider’s stock valued at $1,248,000 after purchasing an additional 7,587 shares during the period. Pinnacle Associates Ltd. grew its stake in shares of Cass Information Systems by 2.7% in the 3rd quarter. Pinnacle Associates Ltd. now owns 66,928 shares of the business services provider’s stock valued at $2,493,000 after purchasing an additional 1,760 shares during the period. Commonwealth Equity Services LLC grew its stake in shares of Cass Information Systems by 6.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 31,575 shares of the business services provider’s stock valued at $1,176,000 after purchasing an additional 1,811 shares during the period. Finally, Tributary Capital Management LLC grew its stake in shares of Cass Information Systems by 16.9% in the 3rd quarter. Tributary Capital Management LLC now owns 308,925 shares of the business services provider’s stock valued at $11,507,000 after purchasing an additional 44,665 shares during the period. 57.60% of the stock is currently owned by institutional investors.

Cass Information Systems Price Performance

Shares of CASS opened at $47.50 on Wednesday. The company has a market capitalization of $646 million, a P/E ratio of 21.79 and a beta of 0.72. Cass Information Systems, Inc. has a one year low of $35.05 and a one year high of $50.25. The business’s 50 day simple moving average is $44.60 and its 200-day simple moving average is $41.08.

Cass Information Systems (NASDAQ:CASS – Get Free Report) last announced 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 return on equity of 14.11% and a net margin of 15.22%. The business had revenue of $50.74 million for the quarter, compared to the consensus estimate of $48.33 million. On average, sell-side analysts anticipate that Cass Information Systems, Inc. will post 2.74 EPS for the current fiscal year.

Cass Information Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend is Monday, March 4th. Cass Information Systems’s dividend payout ratio is 55.05%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. StockNews.com upgraded Cass Information Systems from a “hold” rating to a “buy” rating in a research note on Wednesday. Piper Sandler upgraded Cass Information Systems from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $45.00 to $51.00 in a research note on Monday, February 12th. Finally, TheStreet downgraded Cass Information Systems from a “b-” rating to a “c” rating in a report on Thursday, January 25th.

Get Our Latest Report on CASS

About Cass Information Systems

(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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