Cass Information Systems, Inc. (NASDAQ:CASS) Short Interest Down 5.3% in May
Cass Information Systems, Inc. (NASDAQ:CASS – Get Free Report) saw a large drop in short interest during the month of May. As of May 31st, there was short interest totalling 193,700 shares, a drop of 5.3% from the May 15th total of 204,600 shares. Based on an average daily volume of 36,900 shares, the days-to-cover ratio is currently 5.2 days. Currently, 1.6% of the company’s shares are sold short.
Hedge Funds Weigh In On Cass Information Systems
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CASS. PNC Financial Services Group Inc. boosted its position in Cass Information Systems by 7.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,725 shares of the business services provider’s stock valued at $251,000 after buying an additional 490 shares during the last quarter. Ballast Asset Management LP purchased a new position in Cass Information Systems in the 3rd quarter valued at about $2,601,000. First National Bank of Omaha boosted its position in Cass Information Systems by 12.8% in the 3rd quarter. First National Bank of Omaha now owns 12,485 shares of the business services provider’s stock valued at $465,000 after buying an additional 1,414 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Cass Information Systems in the 3rd quarter valued at about $1,578,000. Finally, Vanguard Group Inc. raised its stake in shares of Cass Information Systems by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 801,636 shares of the business services provider’s stock valued at $29,861,000 after purchasing an additional 9,463 shares in the last quarter. 59.08% of the stock is owned by hedge funds and other institutional investors.
Cass Information Systems Stock Performance
Shares of NASDAQ:CASS traded down $0.06 during midday trading on Tuesday, hitting $40.90. 24,558 shares of the company’s stock traded hands, compared to its average volume of 38,265. The company has a market cap of $557.88 million, a PE ratio of 18.66 and a beta of 0.73. The firm’s fifty day moving average price is $43.63 and its two-hundred day moving average price is $44.63. Cass Information Systems has a twelve month low of $35.50 and a twelve month high of $50.25.
Cass Information Systems (NASDAQ:CASS – Get Free Report) last issued its quarterly earnings data on Thursday, April 18th. The business services provider reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.07). The firm had revenue of $49.68 million during the quarter, compared to analyst estimates 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, equities research analysts anticipate that Cass Information Systems will post 2.35 EPS for the current fiscal year.
Cass Information Systems Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Tuesday, June 4th were given a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $1.20 dividend on an annualized basis and a yield of 2.93%. Cass Information Systems’s payout ratio is currently 54.79%.
Analysts Set New Price Targets
Separately, StockNews.com lowered shares of Cass Information Systems from a “buy” rating to a “hold” rating in a report on Saturday, April 27th.
Check Out Our Latest Research Report on CASS
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.
Read More
Before you consider Cass Information Systems, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Cass Information Systems wasn’t on the list.
While Cass Information Systems currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we’ll send you MarketBeat’s guide to investing in electric vehicle technologies (EV) and which EV stocks show the most promise.
Get This Free Report
link
