Geode Capital Management LLC Buys 13,607 Shares of Cass Information Systems, Inc. (NASDAQ:CASS)

Geode Capital Management LLC boosted its holdings in Cass Information Systems, Inc. (NASDAQ:CASS) by 4.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 354,155 shares of the business services provider’s stock after buying an additional 13,607 shares during the quarter. Geode Capital Management LLC owned approximately 2.61% of Cass Information Systems worth $14,693,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CASS. Speece Thorson Capital Group Inc. boosted its stake in Cass Information Systems by 37.6% in the third quarter. Speece Thorson Capital Group Inc. now owns 305,495 shares of the business services provider’s stock valued at $12,672,000 after buying an additional 83,414 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in Cass Information Systems in the third quarter valued at about $3,029,000. Barclays PLC boosted its stake in Cass Information Systems by 364.9% in the third quarter. Barclays PLC now owns 21,938 shares of the business services provider’s stock valued at $910,000 after buying an additional 17,219 shares in the last quarter. Tributary Capital Management LLC boosted its stake in Cass Information Systems by 5.3% in the third quarter. Tributary Capital Management LLC now owns 318,496 shares of the business services provider’s stock valued at $13,211,000 after buying an additional 15,919 shares in the last quarter. Finally, Foundry Partners LLC boosted its stake in Cass Information Systems by 12.1% in the third quarter. Foundry Partners LLC now owns 122,405 shares of the business services provider’s stock valued at $5,077,000 after buying an additional 13,180 shares in the last quarter. 59.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Piper Sandler raised their price objective 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 Trading Down 1.0 %

Shares of CASS stock opened at $40.63 on Tuesday. The business’s 50-day moving average price is $43.57 and its 200-day moving average price is $42.05. Cass Information Systems, Inc. has a 12 month low of $37.99 and a 12 month high of $50.25. The firm has a market capitalization of $551.31 million, a price-to-earnings ratio of 24.48 and a beta of 0.72.

Cass Information Systems (NASDAQ:CASS) last announced its quarterly earnings results on Thursday, October 17th. The business services provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $50.55 million for the quarter, compared to analyst estimates of $48.99 million. On average, sell-side analysts predict that Cass Information Systems, Inc. will post 1.48 earnings per share for the current fiscal 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 paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.05%. This is a positive change from Cass Information Systems’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, December 3rd. Cass Information Systems’s dividend payout ratio (DPR) is presently 74.70%.

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.