Cass Information Systems (NASDAQ:CASS) Shares Gap Down to $44.73

Cass Information Systems, Inc. (NASDAQ:CASS)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $44.73, but opened at $43.45. Cass Information Systems shares last traded at $43.59, with a volume of 3,992 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. TheStreet lowered Cass Information Systems from a “b-” rating to a “c” rating in a report on Thursday, January 25th. Piper Sandler upgraded Cass Information Systems from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $45.00 to $51.00 in a report on Monday, February 12th. Finally, StockNews.com lowered Cass Information Systems from a “buy” rating to a “hold” rating in a report on Wednesday.

Cass Information Systems Trading Down 4.6 %

The company has a market cap of $567.77 million, a PE ratio of 19.11 and a beta of 0.73. The business has a fifty day simple moving average of $46.80 and a two-hundred day simple moving average of $43.29.

Cass Information Systems (NASDAQ:CASS) last issued its earnings results on Thursday, January 25th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.13. Cass Information Systems had a return on equity of 13.84% and a net margin of 15.22%. The business had revenue of $50.74 million during the quarter, compared to the consensus estimate of $48.33 million. Equities analysts expect that Cass Information Systems, Inc. will post 2.74 EPS for the current year.

Cass Information Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend was Monday, March 4th. Cass Information Systems’s dividend payout ratio (DPR) is presently 55.05%.

Institutional Trading of Cass Information Systems

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC increased its stake in shares of Cass Information Systems by 0.3% in the 4th quarter. AQR Capital Management LLC now owns 96,902 shares of the business services provider’s stock worth $4,440,000 after acquiring an additional 269 shares during the last quarter. MetLife Investment Management LLC boosted its stake in shares of Cass Information Systems by 4.4% in the 2nd quarter. MetLife Investment Management LLC now owns 7,198 shares of the business services provider’s stock valued at $279,000 after buying an additional 304 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Cass Information Systems by 10.2% in the 3rd quarter. Lazard Asset Management LLC now owns 3,346 shares of the business services provider’s stock valued at $124,000 after buying an additional 310 shares during the period. Sei Investments Co. lifted its stake in Cass Information Systems by 5.3% during the first quarter. Sei Investments Co. now owns 7,169 shares of the business services provider’s stock worth $310,000 after purchasing an additional 362 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Cass Information Systems by 2.2% during the fourth quarter. JPMorgan Chase & Co. now owns 17,700 shares of the business services provider’s stock worth $810,000 after purchasing an additional 373 shares during the last quarter. 59.08% of the stock is owned by institutional investors and hedge funds.

Cass Information Systems Company 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.