Dumont & Blake Investment Advisors LLC Buys Shares of 4,641 Cass Information Systems, Inc. (NASDAQ:CASS)

Dumont & Blake Investment Advisors LLC bought a new stake in Cass Information Systems, Inc. (NASDAQ:CASS) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,641 shares of the business services provider’s stock, valued at approximately $201,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CASS. SG Americas Securities LLC grew its position in Cass Information Systems by 30.5% in the fourth quarter. SG Americas Securities LLC now owns 6,295 shares of the business services provider’s stock valued at $258,000 after acquiring an additional 1,470 shares during the last quarter. Towneley Capital Management Inc DE bought a new position in Cass Information Systems in the fourth quarter valued at about $611,000. Rhumbline Advisers boosted its stake in shares of Cass Information Systems by 1.1% during the fourth quarter. Rhumbline Advisers now owns 27,482 shares of the business services provider’s stock valued at $1,124,000 after purchasing an additional 303 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Cass Information Systems by 7.7% during the fourth quarter. Bank of New York Mellon Corp now owns 87,456 shares of the business services provider’s stock valued at $3,578,000 after purchasing an additional 6,236 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Cass Information Systems by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 104,325 shares of the business services provider’s stock valued at $4,268,000 after purchasing an additional 716 shares in the last quarter. Institutional investors own 59.08% of the company’s stock.

Cass Information Systems Trading Down 0.7%

Shares of CASS stock opened at $42.49 on Friday. The business’s 50-day moving average price is $41.57 and its 200-day moving average price is $42.39. Cass Information Systems, Inc. has a 12 month low of $37.99 and a 12 month high of $47.14. The firm has a market capitalization of $567.67 million, a price-to-earnings ratio of 30.79 and a beta of 0.43.

Cass Information Systems (NASDAQ:CASS) last announced its quarterly earnings results 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. Cass Information Systems had a return on equity of 8.25% and a net margin of 9.62%. The firm had revenue of $46.41 million for the quarter, compared to analyst estimates of $51.49 million. On average, sell-side analysts predict that Cass Information Systems, Inc. will post 2.62 earnings per share for the current fiscal year.

Cass Information Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Tuesday, June 3rd will be paid 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 payout ratio is 81.58%.

Analysts Set New Price Targets

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

Cass Information Systems 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.