Cass Information Systems (NASDAQ:CASS) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Cass Information Systems (NASDAQ:CASS) from a hold rating to a sell rating in a research report sent to investors on Saturday.

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

Cass Information Systems Trading Down 1.5%

Cass Information Systems stock opened at $45.51 on Friday. Cass Information Systems has a 12 month low of $37.99 and a 12 month high of $47.14. The stock’s 50 day moving average is $42.69 and its 200-day moving average is $42.15. The company has a market capitalization of $608.01 million, a price-to-earnings ratio of 29.94 and a beta of 0.45.

Cass Information Systems (NASDAQ:CASS) last posted its earnings results on Thursday, April 17th. The business services provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.60 by $0.03. Cass Information Systems had a return on equity of 8.84% and a net margin of 10.71%. The company had revenue of $46.41 million for the quarter, compared to the consensus estimate of $51.49 million. As a group, equities research analysts predict that Cass Information Systems will post 2.62 earnings per share for the current fiscal year.

Cass Information Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Tuesday, June 3rd were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend was Tuesday, June 3rd. Cass Information Systems’s dividend payout ratio is currently 81.58%.

Institutional Investors Weigh In On Cass Information Systems

Large investors have recently added to or reduced their stakes in the stock. Huntington National Bank grew its position in Cass Information Systems by 72.9% during the fourth quarter. Huntington National Bank now owns 690 shares of the business services provider’s stock worth $28,000 after buying an additional 291 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in Cass Information Systems during the fourth quarter worth approximately $44,000. Global X Japan Co. Ltd. acquired a new stake in Cass Information Systems during the first quarter worth approximately $55,000. Copeland Capital Management LLC grew its position in Cass Information Systems by 56.7% during the first quarter. Copeland Capital Management LLC now owns 1,432 shares of the business services provider’s stock worth $62,000 after buying an additional 518 shares in the last quarter. Finally, CWM LLC grew its position in Cass Information Systems by 275.9% during the first quarter. CWM LLC now owns 1,947 shares of the business services provider’s stock worth $84,000 after buying an additional 1,429 shares in the last quarter. Institutional investors and hedge funds own 59.08% of the company’s stock.

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.