Commonwealth Equity Services LLC lifted its position in Cass Information Systems, Inc. (NASDAQ:CASS – Free Report) by 2.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,147 shares of the business services provider’s stock after acquiring an additional 808 shares during the period. Commonwealth Equity Services LLC owned approximately 0.24% of Cass Information Systems worth $1,288,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Commerce Bank raised its holdings in Cass Information Systems by 60.5% in the fourth quarter. Commerce Bank now owns 77,634 shares of the business services provider’s stock worth $3,497,000 after purchasing an additional 29,252 shares during the period. Speece Thorson Capital Group Inc. bought a new position in Cass Information Systems during the fourth quarter worth about $2,432,000. Los Angeles Capital Management LLC lifted its holdings in Cass Information Systems by 57.6% during the first quarter. Los Angeles Capital Management LLC now owns 55,835 shares of the business services provider’s stock worth $2,690,000 after acquiring an additional 20,416 shares in the last quarter. Dumont & Blake Investment Advisors LLC acquired a new position in Cass Information Systems in the first quarter valued at about $207,000. Finally, Compass Ion Advisors LLC bought a new stake in shares of Cass Information Systems in the first quarter worth about $223,000. Institutional investors own 59.08% of the company’s stock.
Cass Information Systems Trading Up 3.0 %
Shares of NASDAQ CASS opened at $41.99 on Monday. The company has a fifty day moving average price of $41.43 and a 200 day moving average price of $43.22. Cass Information Systems, Inc. has a 1-year low of $35.50 and a 1-year high of $50.25. The firm has a market cap of $572.32 million, a PE ratio of 19.17 and a beta of 0.71.
Cass Information Systems Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were paid a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.20 annualized dividend and a yield of 2.86%. Cass Information Systems’s payout ratio is currently 54.79%.
Wall Street Analyst Weigh In
Separately, Piper Sandler restated an “overweight” rating and set a $44.00 target price (down from $47.00) on shares of Cass Information Systems in a report on Monday, July 22nd.
Check Out Our Latest Report on Cass Information Systems
About Cass Information Systems
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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