Cass Information Systems, Inc (CASS) To Go Ex-Dividend on September 4th

Cass Information Systems, Inc (NASDAQ:CASS) announced a quarterly dividend on Tuesday, July 21st. Investors of record on Friday, September 4th will be paid a dividend of 0.32 per share by the business services provider on Monday, September 14th. This represents a c) dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, September 4th.

Cass Information Systems has raised its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 23 consecutive years. Cass Information Systems has a payout ratio of 41.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Cass Information Systems to earn $3.45 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 37.1%.

Cass Information Systems Trading Up 2.8%

Shares of NASDAQ CASS traded up $1.45 during midday trading on Thursday, reaching $53.97. The company’s stock had a trading volume of 80,313 shares, compared to its average volume of 79,726. Cass Information Systems has a fifty-two week low of $36.07 and a fifty-two week high of $54.44. The stock has a market capitalization of $694.59 million, a price-to-earnings ratio of 20.52 and a beta of 0.42. The stock has a 50 day simple moving average of $49.40 and a 200-day simple moving average of $46.47.

Cass Information Systems (NASDAQ:CASS) last announced its earnings results on Thursday, July 23rd. The business services provider reported $0.71 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.09). Cass Information Systems had a return on equity of 13.26% and a net margin of 18.08%. As a group, equities analysts anticipate that Cass Information Systems will post 3 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CASS. Piper Sandler set a $52.00 price objective on Cass Information Systems and gave the company a “neutral” rating in a report on Friday, June 12th. Weiss Ratings raised Cass Information Systems from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, May 7th. Zacks Research raised Cass Information Systems from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 15th. Finally, Raymond James Financial raised their price target on Cass Information Systems from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Cass Information Systems has an average rating of “Buy” and an average target price of $54.00.

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. The company also processes and pays facility-related invoices, such as electricity, gas, waste, and telecommunications expenses; and provides telecom expense management solutions, as well as church management software solution and on-line platform to provide generosity services for faith-based and non-profit organizations.