Cass Information Systems, Inc. (NASDAQ:CASS) Declares $0.31 Quarterly Dividend

Cass Information Systems, Inc. (NASDAQ:CASS) declared a quarterly dividend on Monday, January 27th,Wall Street Journal reports. Stockholders of record on Tuesday, March 4th will be paid a dividend of 0.31 per share by the business services provider on Friday, March 14th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Tuesday, March 4th.

Cass Information Systems has raised its dividend by an average of 3.5% per year over the last three years and has increased its dividend annually for the last 20 consecutive years. Cass Information Systems has a payout ratio of 40.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Cass Information Systems to earn $2.53 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 49.0%.

Cass Information Systems Stock Down 0.7 %

NASDAQ CASS opened at $41.42 on Wednesday. The stock’s 50-day moving average price is $42.32 and its 200-day moving average price is $42.04. The company has a market capitalization of $562.07 million, a P/E ratio of 24.95 and a beta of 0.73. Cass Information Systems has a 52 week low of $37.99 and a 52 week high of $50.25.

Cass Information Systems (NASDAQ:CASS) last announced its earnings results on Thursday, January 23rd. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.10). Cass Information Systems had a net margin of 11.52% and a return on equity of 9.92%. Research analysts anticipate that Cass Information Systems will post 1.5 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler increased their price target on Cass Information Systems from $44.00 to $45.00 and gave the company an “overweight” rating in a report 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.