Beacon Financial Group Sells 2,873 Shares of Cass Information Systems, Inc. (NASDAQ:CASS)

Beacon Financial Group cut its holdings in Cass Information Systems, Inc. (NASDAQ:CASS) by 35.3% in the first quarter, HoldingsChannel reports. The firm owned 5,256 shares of the business services provider’s stock after selling 2,873 shares during the period. Beacon Financial Group’s holdings in Cass Information Systems were worth $227,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Huntington National Bank lifted its position in Cass Information Systems by 72.9% during the 4th quarter. Huntington National Bank now owns 690 shares of the business services provider’s stock worth $28,000 after acquiring an additional 291 shares during the last quarter. Aquatic Capital Management LLC acquired a new position in Cass Information Systems during the 4th quarter worth $44,000. KLP Kapitalforvaltning AS acquired a new position in Cass Information Systems during the 4th quarter worth $114,000. Dumont & Blake Investment Advisors LLC acquired a new position in Cass Information Systems during the 1st quarter worth $201,000. Finally, Intech Investment Management LLC acquired a new position in Cass Information Systems during the 4th quarter worth $207,000. 59.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Piper Sandler cut their target price on shares of Cass Information Systems from $47.00 to $46.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd.

Cass Information Systems Price Performance

Cass Information Systems stock opened at $42.44 on Friday. The firm has a market cap of $567.00 million, a price-to-earnings ratio of 30.75 and a beta of 0.44. Cass Information Systems, Inc. has a fifty-two week low of $37.99 and a fifty-two week high of $47.14. The firm has a fifty day moving average price of $41.46 and a two-hundred day moving average price of $42.31.

Cass Information Systems (NASDAQ:CASS) last announced its quarterly earnings data on Thursday, April 17th. The business services provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. The business had revenue of $46.41 million during the quarter, compared to analyst estimates of $51.49 million. Cass Information Systems had a net margin of 9.62% and a return on equity of 8.25%. As a group, sell-side analysts expect that Cass Information Systems, Inc. will post 2.62 earnings per share for the current year.

Cass Information Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Tuesday, June 3rd will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend is Tuesday, June 3rd. Cass Information Systems’s dividend payout ratio is currently 81.58%.

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.