US Bancorp DE Has $294,000 Stock Holdings in Cass Information Systems, Inc. (NASDAQ:CASS)

US Bancorp DE grew its position in shares of Cass Information Systems, Inc. (NASDAQ:CASS) by 5.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,078 shares of the business services provider’s stock after acquiring an additional 360 shares during the quarter. US Bancorp DE owned 0.05% of Cass Information Systems worth $294,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Copeland Capital Management LLC acquired a new position in Cass Information Systems during the third quarter worth $37,000. SG Americas Securities LLC acquired a new position in shares of Cass Information Systems during the 3rd quarter worth about $200,000. Creative Planning acquired a new position in shares of Cass Information Systems during the 3rd quarter worth about $205,000. Renaissance Technologies LLC bought a new position in shares of Cass Information Systems in the 2nd quarter valued at about $251,000. Finally, Janney Montgomery Scott LLC increased its position in shares of 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 valued at $315,000 after acquiring an additional 2,097 shares during the last quarter. 59.08% of the stock is owned by institutional investors.

Cass Information Systems Price Performance

Shares of CASS opened at $44.86 on Thursday. Cass Information Systems, Inc. has a one year low of $37.99 and a one year high of $50.25. The company has a market cap of $608.75 million, a PE ratio of 27.02 and a beta of 0.70. The firm has a 50-day moving average of $41.87 and a 200-day moving average of $41.99.

Cass Information Systems (NASDAQ:CASS) last released its quarterly earnings data on Thursday, October 17th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.29). Cass Information Systems had a net margin of 11.52% and a return on equity of 9.92%. The business had revenue of $50.55 million during the quarter, compared to the consensus estimate of $48.99 million. Analysts expect that Cass Information Systems, Inc. will post 1.48 earnings per share for the current year.

Cass Information Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd will be issued a dividend of $0.31 per share. This is an increase from Cass Information Systems’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.24 annualized dividend and a yield of 2.76%. Cass Information Systems’s dividend payout ratio (DPR) is currently 72.29%.

Wall Street Analyst Weigh In

Separately, Piper Sandler raised their price target on Cass Information Systems from $44.00 to $45.00 and gave the company 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.