Los Angeles Capital Management LLC Purchases 20,416 Shares of Cass Information Systems, Inc. (NASDAQ:CASS)

Los Angeles Capital Management LLC lifted its stake in Cass Information Systems, Inc. (NASDAQ:CASS – Free Report) by 57.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,835 shares of the business services provider’s stock after purchasing an additional 20,416 shares during the quarter. Los Angeles Capital Management LLC owned about 0.41% of Cass Information Systems worth $2,690,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Global Retirement Partners LLC bought a new stake in shares of Cass Information Systems in the 4th quarter worth approximately $114,000. SG Americas Securities LLC bought a new stake in shares of Cass Information Systems in the 4th quarter worth approximately $173,000. PNC Financial Services Group Inc. boosted its position in shares of 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 worth $251,000 after purchasing an additional 490 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of Cass Information Systems in the 4th quarter worth approximately $390,000. Finally, Trust Point Inc. bought a new stake in shares of Cass Information Systems in the 4th quarter worth approximately $460,000. 59.08% of the stock is owned by institutional investors.

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Analyst Ratings Changes

Separately, StockNews.com cut Cass Information Systems from a “buy” rating to a “hold” rating in a research report on Saturday, April 27th.

Check Out Our Latest Stock Analysis on Cass Information Systems

Cass Information Systems Stock Down 0.6 %

Shares of NASDAQ CASS opened at $40.50 on Friday. Cass Information Systems, Inc. has a twelve month low of $35.50 and a twelve month high of $50.25. The firm has a market cap of $552.42 million, a P/E ratio of 18.49 and a beta of 0.73. The company has a 50 day moving average of $43.17 and a 200 day moving average of $44.55.

Cass Information Systems (NASDAQ:CASS – Get Free Report) last announced its quarterly earnings data 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). Cass Information Systems had a return on equity of 13.67% and a net margin of 15.21%. The firm had revenue of $49.68 million during the quarter, compared to analysts’ expectations of $50.68 million. As a group, equities analysts expect that Cass Information Systems, Inc. will post 2.35 earnings per share 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. Investors of record on Tuesday, June 4th were issued 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 2.96%. Cass Information Systems’s payout ratio is currently 54.79%.

Cass Information Systems Company Profile

(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.