Barclays PLC Boosts Stock Holdings in Cass Information Systems, Inc. (NASDAQ:CASS)

Barclays PLC raised its holdings in shares of Cass Information Systems, Inc. (NASDAQ:CASS) by 364.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,938 shares of the business services provider’s stock after acquiring an additional 17,219 shares during the quarter. Barclays PLC owned about 0.16% of Cass Information Systems worth $910,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. First National Bank of Omaha raised its holdings in Cass Information Systems by 3.3% during the 3rd quarter. First National Bank of Omaha now owns 9,441 shares of the business services provider’s stock valued at $392,000 after acquiring an additional 300 shares during the period. State Street Corp raised its holdings in Cass Information Systems by 0.8% during the 3rd quarter. State Street Corp now owns 319,177 shares of the business services provider’s stock valued at $13,239,000 after acquiring an additional 2,466 shares during the period. Hotchkis & Wiley Capital Management LLC bought a new stake in Cass Information Systems during the 3rd quarter valued at $3,029,000. Glenmede Trust Co. NA raised its holdings in Cass Information Systems by 37.8% during the 3rd quarter. Glenmede Trust Co. NA now owns 7,453 shares of the business services provider’s stock valued at $309,000 after acquiring an additional 2,044 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in Cass Information Systems by 27.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,387 shares of the business services provider’s stock valued at $265,000 after acquiring an additional 1,394 shares during the period. Institutional investors own 59.08% of the company’s stock.

Analysts Set New Price Targets

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

Cass Information Systems Stock Performance

Cass Information Systems stock opened at $40.63 on Tuesday. The stock has a market cap of $551.31 million, a P/E ratio of 24.48 and a beta of 0.72. Cass Information Systems, Inc. has a fifty-two week low of $37.99 and a fifty-two week high of $50.25. The firm’s fifty day moving average price is $43.57 and its 200-day moving average price is $42.05.

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

Cass Information Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd were issued a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.24 annualized dividend and a dividend yield of 3.05%. This is a boost from Cass Information Systems’s previous quarterly dividend of $0.30. Cass Information Systems’s dividend payout ratio is presently 74.70%.

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.