Vanguard Group Inc. Sells 26,915 Shares of Cass Information Systems, Inc. (NASDAQ:CASS)

Vanguard Group Inc. decreased its holdings in Cass Information Systems, Inc. (NASDAQ:CASS – Free Report) by 3.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 788,673 shares of the business services provider’s stock after selling 26,915 shares during the quarter. Vanguard Group Inc. owned 5.78% of Cass Information Systems worth $37,990,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of Cass Information Systems during the 4th quarter valued at $173,000. Dumont & Blake Investment Advisors LLC purchased a new position in Cass Information Systems during the first quarter valued at $207,000. Compass Ion Advisors LLC bought a new stake in Cass Information Systems during the first quarter valued at about $223,000. Janney Montgomery Scott LLC increased its position in Cass Information Systems by 47.1% in the first quarter. Janney Montgomery Scott LLC now owns 6,546 shares of the business services provider’s stock worth $315,000 after buying an additional 2,097 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of Cass Information Systems by 11.1% in the first quarter. BNP Paribas Financial Markets now owns 11,164 shares of the business services provider’s stock worth $538,000 after buying an additional 1,112 shares during the period. 59.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CASS has been the subject of several analyst reports. StockNews.com lowered shares of Cass Information Systems from a “buy” rating to a “hold” rating in a report on Saturday, April 27th. Piper Sandler restated an “overweight” rating and set a $44.00 price objective (down from $47.00) on shares of Cass Information Systems in a research report on Monday, July 22nd.

Check Out Our Latest Stock Analysis on CASS

Cass Information Systems Stock Up 3.1 %

NASDAQ CASS opened at $39.61 on Friday. Cass Information Systems, Inc. has a twelve month low of $35.50 and a twelve month high of $50.25. The business has a 50-day moving average price of $41.12 and a 200-day moving average price of $43.90. The firm has a market cap of $540.44 million, a price-to-earnings ratio of 18.09 and a beta of 0.70.

Cass Information Systems (NASDAQ:CASS – Get Free Report) last posted its quarterly earnings results on Thursday, July 18th. The business services provider reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.21). The business had revenue of $48.59 million during the quarter, compared to the consensus estimate of $50.00 million. Cass Information Systems had a return on equity of 12.37% and a net margin of 13.84%. Research analysts expect that Cass Information Systems, Inc. will post 1.86 EPS for the current fiscal year.

Cass Information Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.20 dividend on an annualized basis and a yield of 3.03%. Cass Information Systems’s dividend 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.

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