Royce & Associates LP Increases Stock Position in Cass Information Systems, Inc. (NASDAQ:CASS)

Royce & Associates LP increased its position in Cass Information Systems, Inc. (NASDAQ:CASS) by 3.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 265,907 shares of the business services provider’s stock after buying an additional 8,568 shares during the quarter. Royce & Associates LP’s holdings in Cass Information Systems were worth $10,878,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in shares of Cass Information Systems by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 354,155 shares of the business services provider’s stock worth $14,693,000 after purchasing an additional 13,607 shares during the period. State Street Corp boosted its position in shares of Cass Information Systems by 0.8% in the third quarter. State Street Corp now owns 319,177 shares of the business services provider’s stock worth $13,239,000 after buying an additional 2,466 shares during the period. Foundry Partners LLC grew its stake in shares of Cass Information Systems by 12.1% in the third quarter. Foundry Partners LLC now owns 122,405 shares of the business services provider’s stock valued at $5,077,000 after buying an additional 13,180 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Cass Information Systems by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 104,325 shares of the business services provider’s stock valued at $4,268,000 after buying an additional 716 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Cass Information Systems by 7.7% during the 4th quarter. Bank of New York Mellon Corp now owns 87,456 shares of the business services provider’s stock worth $3,578,000 after acquiring an additional 6,236 shares in the last quarter. Institutional investors and hedge funds own 59.08% of the company’s stock.

Cass Information Systems Stock Up 0.4 %

NASDAQ CASS opened at $43.34 on Tuesday. Cass Information Systems, Inc. has a fifty-two week low of $37.99 and a fifty-two week high of $49.16. The business has a 50 day moving average price of $42.43 and a two-hundred day moving average price of $42.47. The stock has a market cap of $583.57 million, a PE ratio of 31.41 and a beta of 0.67.

Cass Information Systems (NASDAQ:CASS) last announced its earnings results on Thursday, January 23rd. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.10). Cass Information Systems had a net margin of 9.62% and a return on equity of 8.25%. Sell-side analysts anticipate that Cass Information Systems, Inc. will post 2.62 EPS for the current fiscal year.

Cass Information Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend was Tuesday, March 4th. Cass Information Systems’s payout ratio is 89.86%.

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.