SG Americas Securities LLC Has $258,000 Stock Position in Cass Information Systems, Inc. (NASDAQ:CASS)

SG Americas Securities LLC raised its holdings in Cass Information Systems, Inc. (NASDAQ:CASS) by 30.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,295 shares of the business services provider’s stock after buying an additional 1,470 shares during the period. SG Americas Securities LLC’s holdings in Cass Information Systems were worth $258,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Copeland Capital Management LLC bought a new position in shares of Cass Information Systems during the third quarter worth approximately $37,000. Creative Planning acquired a new position in shares of Cass Information Systems in the 3rd quarter worth approximately $205,000. Renaissance Technologies LLC acquired a new stake in Cass Information Systems during the 2nd quarter worth about $251,000. BNP Paribas Financial Markets lifted its stake in Cass Information Systems by 27.9% in the third quarter. BNP Paribas Financial Markets now owns 6,387 shares of the business services provider’s stock valued at $265,000 after buying an additional 1,394 shares during the period. Finally, Quest Partners LLC grew its holdings in Cass Information Systems by 3,445.5% in the third quarter. Quest Partners LLC now owns 6,701 shares of the business services provider’s stock worth $278,000 after purchasing an additional 6,512 shares during the period. 59.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Piper Sandler boosted their price target on shares of 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 Stock Up 1.1 %

Shares of NASDAQ CASS opened at $43.12 on Friday. The company has a market capitalization of $585.10 million, a PE ratio of 31.25 and a beta of 0.72. The stock’s 50 day moving average price is $41.94 and its 200-day moving average price is $41.99. Cass Information Systems, Inc. has a twelve month low of $37.99 and a twelve month high of $50.25.

Cass Information Systems (NASDAQ:CASS) last released its earnings results on Thursday, January 23rd. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.10). Cass Information Systems had a return on equity of 8.25% and a net margin of 9.62%. As a group, research analysts expect that Cass Information Systems, Inc. will post 2.53 EPS for the current fiscal year.

Cass Information Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be issued a dividend of $0.31 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.24 dividend on an annualized basis and a yield of 2.88%. Cass Information Systems’s dividend payout ratio (DPR) is 89.86%.

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.