Cass Information Systems (NASDAQ:CASS) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Cass Information Systems (NASDAQ:CASS) from a sell rating to a hold rating in a research note published on Saturday morning.

Several other equities research analysts also recently issued reports on the company. Piper Sandler decreased their price target on Cass Information Systems from $47.00 to $46.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Raymond James Financial began coverage on Cass Information Systems in a report on Tuesday, July 15th. They set an “outperform” rating and a $50.00 price target for the company.

Cass Information Systems Stock Up 3.3%

NASDAQ CASS opened at $40.95 on Friday. The company has a market cap of $547.09 million, a price-to-earnings ratio of 22.02 and a beta of 0.48. Cass Information Systems has a 52 week low of $37.99 and a 52 week high of $47.14. The business has a 50 day moving average price of $42.97 and a 200-day moving average price of $42.46.

Cass Information Systems (NASDAQ:CASS) last announced its quarterly earnings results on Thursday, July 17th. The business services provider reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.34). Cass Information Systems had a return on equity of 9.09% and a net margin of 13.22%. The company had revenue of $44.40 million for the quarter, compared to the consensus estimate of $48.12 million. On average, equities research analysts anticipate that Cass Information Systems will post 2.62 earnings per share for the current year.

Cass Information Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, September 5th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Friday, September 5th. Cass Information Systems’s dividend payout ratio is 66.67%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Huntington National Bank lifted its position in shares of Cass Information Systems by 72.9% during the 4th quarter. Huntington National Bank now owns 690 shares of the business services provider’s stock valued at $28,000 after buying an additional 291 shares during the last quarter. Aquatic Capital Management LLC purchased a new position in shares of Cass Information Systems during the 4th quarter valued at $44,000. Global X Japan Co. Ltd. purchased a new position in shares of Cass Information Systems during the 1st quarter valued at $55,000. Copeland Capital Management LLC lifted its position in shares of Cass Information Systems by 56.7% during the 1st quarter. Copeland Capital Management LLC now owns 1,432 shares of the business services provider’s stock valued at $62,000 after buying an additional 518 shares during the last quarter. Finally, CWM LLC lifted its position in shares of Cass Information Systems by 275.9% during the 1st quarter. CWM LLC now owns 1,947 shares of the business services provider’s stock valued at $84,000 after buying an additional 1,429 shares during the last quarter. Hedge funds and other institutional investors own 59.08% of the company’s stock.

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.