Cass Information Systems, Inc (CASS) to Issue Quarterly Dividend of $0.32 on December 15th

Cass Information Systems, Inc (NASDAQ:CASS) announced a quarterly dividend on Tuesday, October 21st. Shareholders of record on Friday, December 5th will be paid a dividend of 0.32 per share by the business services provider on Monday, December 15th. This represents a c) dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Friday, December 5th. This is a 3.2% increase from Cass Information Systems’s previous quarterly dividend of $0.31.

Cass Information Systems has increased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 23 consecutive years. Cass Information Systems has a payout ratio of 41.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Cass Information Systems to earn $3.15 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 40.6%.

Cass Information Systems Stock Performance

Shares of CASS traded up $0.46 during mid-day trading on Wednesday, hitting $42.94. 11,933 shares of the stock were exchanged, compared to its average volume of 61,954. The firm has a 50-day moving average of $39.77 and a two-hundred day moving average of $41.70. Cass Information Systems has a 52-week low of $36.07 and a 52-week high of $47.00. The company has a market cap of $561.83 million, a PE ratio of 18.43 and a beta of 0.42.

Cass Information Systems (NASDAQ:CASS) last posted its quarterly earnings data on Thursday, October 23rd. The business services provider reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.06. Cass Information Systems had a net margin of 16.48% and a return on equity of 11.61%. The company had revenue of $54.01 million for the quarter, compared to analyst estimates of $50.20 million. On average, sell-side analysts predict that Cass Information Systems will post 2.62 EPS for the current year.

Institutional Investors Weigh In On Cass Information Systems

Institutional investors have recently modified their holdings of the stock. Copeland Capital Management LLC boosted its position in shares of Cass Information Systems by 16.4% during the second quarter. Copeland Capital Management LLC now owns 1,667 shares of the business services provider’s stock worth $72,000 after buying an additional 235 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Cass Information Systems by 4.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,022 shares of the business services provider’s stock worth $347,000 after purchasing an additional 312 shares in the last quarter. Natixis Advisors LLC lifted its stake in Cass Information Systems by 3.4% during the third quarter. Natixis Advisors LLC now owns 11,048 shares of the business services provider’s stock valued at $435,000 after purchasing an additional 367 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Cass Information Systems by 50.7% during the second quarter. BNP Paribas Financial Markets now owns 1,227 shares of the business services provider’s stock worth $53,000 after buying an additional 413 shares in the last quarter. Finally, Glenmede Investment Management LP grew its position in Cass Information Systems by 5.1% in the third quarter. Glenmede Investment Management LP now owns 8,765 shares of the business services provider’s stock worth $345,000 after buying an additional 422 shares during the last quarter. Institutional investors and hedge funds 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.