Janney Montgomery Scott LLC Has $246,000 Holdings in Cass Information Systems, Inc. (NASDAQ:CASS)

Janney Montgomery Scott LLC cut its position in shares of Cass Information Systems, Inc. (NASDAQ:CASS) by 9.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,009 shares of the business services provider’s stock after selling 649 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Cass Information Systems were worth $246,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. First National Bank of Omaha lifted its stake in shares of Cass Information Systems by 3.3% in the third quarter. First National Bank of Omaha now owns 9,441 shares of the business services provider’s stock valued at $392,000 after buying an additional 300 shares in the last quarter. US Bancorp DE raised its position in shares of Cass Information Systems by 5.4% in the third quarter. US Bancorp DE now owns 7,078 shares of the business services provider’s stock valued at $294,000 after purchasing an additional 360 shares during the period. Copeland Capital Management LLC bought a new stake in shares of Cass Information Systems in the third quarter valued at approximately $37,000. Charles Schwab Investment Management Inc. increased its holdings in Cass Information Systems by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 103,609 shares of the business services provider’s stock worth $4,298,000 after acquiring an additional 1,148 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in Cass Information Systems by 27.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,387 shares of the business services provider’s stock worth $265,000 after buying an additional 1,394 shares in the last quarter. 59.08% of the stock is owned by institutional investors.

Cass Information Systems Stock Down 1.0 %

Shares of CASS opened at $44.18 on Thursday. The stock has a market capitalization of $599.52 million, a P/E ratio of 32.01 and a beta of 0.72. The firm has a fifty day simple moving average of $41.84 and a two-hundred day simple moving average of $42.08. Cass Information Systems, Inc. has a twelve month low of $37.99 and a twelve month high of $49.16.

Cass Information Systems (NASDAQ:CASS) last issued its quarterly earnings data on Thursday, January 23rd. The business services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.10). Cass Information Systems had a return on equity of 8.25% and a net margin of 9.62%. Sell-side analysts expect that Cass Information Systems, Inc. will post 2.62 EPS for the current fiscal year.

Cass Information Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be paid a $0.31 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.24 annualized dividend and a dividend yield of 2.81%. Cass Information Systems’s payout ratio is 89.86%.

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 stock an “overweight” rating in a research note on Friday, October 18th.

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.