SG Americas Securities LLC Takes $200,000 Position in Cass Information Systems, Inc. (NASDAQ:CASS)

SG Americas Securities LLC acquired a new stake in shares of Cass Information Systems, Inc. (NASDAQ:CASS) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 4,825 shares of the business services provider’s stock, valued at approximately $200,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dumont & Blake Investment Advisors LLC bought a new stake in Cass Information Systems in the 1st quarter valued at $207,000. Compass Ion Advisors LLC purchased a new position in shares of Cass Information Systems in the 1st quarter worth $223,000. Allspring Global Investments Holdings LLC grew its stake in shares of Cass Information Systems by 39.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 73,820 shares of the business services provider’s stock worth $3,556,000 after buying an additional 21,032 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Cass Information Systems by 3.9% in the 1st quarter. Commonwealth Equity Services LLC now owns 31,339 shares of the business services provider’s stock worth $1,510,000 after buying an additional 1,166 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Cass Information Systems by 11.1% in the 1st 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 in the last quarter. 59.08% of the stock is currently owned by institutional investors.

Cass Information Systems Price Performance

Shares of CASS opened at $41.29 on Wednesday. Cass Information Systems, Inc. has a 1-year low of $36.22 and a 1-year high of $50.25. The company has a 50-day moving average of $41.52 and a 200 day moving average of $42.13. The firm has a market capitalization of $563.36 million, a price-to-earnings ratio of 18.85 and a beta of 0.70.

Cass Information Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd will be issued a $0.31 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $1.24 annualized dividend and a dividend yield of 3.00%. This is a positive change from Cass Information Systems’s previous quarterly dividend of $0.30. Cass Information Systems’s payout ratio is currently 56.62%.

Analysts Set New Price Targets

Separately, Piper Sandler lifted their price target on shares of Cass Information Systems from $44.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th.

Cass Information Systems Profile

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.