Deutsche Bank AG lifted its holdings in shares of Cass Information Systems (NASDAQ:CASS) by 40.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,525 shares of the business services provider’s stock after acquiring an additional 6,731 shares during the period. Deutsche Bank AG owned 0.16% of Cass Information Systems worth $827,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of CASS. Buckingham Asset Management LLC raised its position in shares of Cass Information Systems by 12,006.5% during the 1st quarter. Buckingham Asset Management LLC now owns 876,147 shares of the business services provider’s stock worth $30,805,000 after acquiring an additional 868,910 shares in the last quarter. Janus Henderson Group PLC grew its stake in Cass Information Systems by 63.0% during the 4th quarter. Janus Henderson Group PLC now owns 341,861 shares of the business services provider’s stock worth $19,739,000 after buying an additional 132,156 shares during the last quarter. Tributary Capital Management LLC purchased a new position in Cass Information Systems during the 1st quarter worth approximately $4,450,000. Atlanta Capital Management Co. L L C grew its stake in Cass Information Systems by 29.8% during the 1st quarter. Atlanta Capital Management Co. L L C now owns 550,419 shares of the business services provider’s stock worth $19,353,000 after buying an additional 126,377 shares during the last quarter. Finally, State Street Corp grew its stake in Cass Information Systems by 15.8% during the 1st quarter. State Street Corp now owns 365,042 shares of the business services provider’s stock worth $12,835,000 after buying an additional 49,746 shares during the last quarter. 62.94% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently issued reports on CASS shares. BidaskClub upgraded Cass Information Systems from a “sell” rating to a “hold” rating in a research note on Tuesday, June 9th. TheStreet downgraded Cass Information Systems from a “b-” rating to a “c” rating in a research note on Monday, April 13th.
Cass Information Systems (NASDAQ:CASS) last announced its earnings results on Thursday, April 23rd. The business services provider reported $0.52 earnings per share for the quarter. Cass Information Systems had a return on equity of 12.25% and a net margin of 18.97%. The company had revenue of $38.14 million for the quarter.
The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, June 5th were paid a $0.27 dividend. The ex-dividend date was Thursday, June 4th. This represents a $1.08 annualized dividend and a dividend yield of 2.81%.
Cass Information Systems Profile
Cass Information Systems, Inc provides payment and information processing services to manufacturing, distribution, and retail enterprises in the United States. It operates through two segments, Information Services and Banking Services. The company's services include freight invoice rating, payment processing, auditing, and the generation of accounting and transportation information.
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