Cass Information Systems, Inc. Declares Quarterly Dividend of $0.30 (NASDAQ:CASS)

Cass Information Systems, Inc. (NASDAQ:CASS – Get Free Report) declared a quarterly dividend on Tuesday, April 16th, NASDAQ reports. Stockholders of record on Tuesday, June 4th will be paid a dividend of 0.30 per share by the business services provider on Friday, June 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend is Tuesday, June 4th.

Cass Information Systems has increased its dividend by an average of 2.7% annually over the last three years and has raised its dividend every year for the last 22 years. Cass Information Systems has a dividend payout ratio of 39.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cass Information Systems to earn $3.04 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 39.5%.

Cass Information Systems Trading Up 0.6 %

CASS stock opened at $42.34 on Monday. The stock has a market cap of $577.52 million, a P/E ratio of 19.33 and a beta of 0.73. The stock’s fifty day simple moving average is $44.89 and its two-hundred day simple moving average is $44.61. Cass Information Systems has a 1-year low of $35.50 and a 1-year high of $50.25.

Cass Information Systems (NASDAQ:CASS – Get Free Report) last issued its quarterly earnings results on Thursday, April 18th. The business services provider reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.07). The company had revenue of $49.68 million during the quarter, compared to analysts’ expectations of $50.68 million. Cass Information Systems had a return on equity of 13.67% and a net margin of 15.21%. As a group, analysts forecast that Cass Information Systems will post 2.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CASS. StockNews.com downgraded shares of Cass Information Systems from a “buy” rating to a “hold” rating in a research report on Saturday, April 27th. Piper Sandler raised Cass Information Systems from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $45.00 to $51.00 in a report on Monday, February 12th.

View Our Latest Research Report on Cass Information Systems

About Cass Information Systems

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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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