Cass Information Systems (NASDAQ:CASS) Releases Earnings Results, Beats Expectations By $0.04 EPS

Cass Information Systems (NASDAQ:CASS) released its earnings results on Thursday. The business services provider reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04, Zacks reports. Cass Information Systems had a return on equity of 11.61% and a net margin of 16.48%.The company had revenue of $49.89 million during the quarter, compared to analyst estimates of $49.60 million.

Cass Information Systems Stock Up 1.5%

Shares of CASS stock opened at $43.58 on Friday. The firm has a market capitalization of $570.03 million, a price-to-earnings ratio of 18.70 and a beta of 0.44. The stock has a fifty day moving average of $42.19 and a 200 day moving average of $41.61. Cass Information Systems has a 52 week low of $36.07 and a 52 week high of $47.00.

Cass Information Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Tuesday, March 3rd will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Tuesday, March 3rd. Cass Information Systems’s dividend payout ratio is currently 54.94%.

Institutional Investors Weigh In On Cass Information Systems

Several institutional investors and hedge funds have recently modified their holdings of CASS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Cass Information Systems by 4.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,022 shares of the business services provider’s stock valued at $347,000 after purchasing an additional 312 shares in the last quarter. Natixis Advisors LLC lifted its holdings in Cass Information Systems by 3.4% in the third quarter. Natixis Advisors LLC now owns 11,048 shares of the business services provider’s stock worth $435,000 after buying an additional 367 shares during the period. BNP Paribas Financial Markets boosted its position in Cass Information Systems by 50.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,227 shares of the business services provider’s stock valued at $53,000 after acquiring an additional 413 shares in the last quarter. Glenmede Investment Management LP grew its holdings in shares of Cass Information Systems by 5.1% during the 3rd quarter. Glenmede Investment Management LP now owns 8,765 shares of the business services provider’s stock worth $345,000 after acquiring an additional 422 shares during the period. Finally, Triumph Capital Management purchased a new position in shares of Cass Information Systems during the 3rd quarter worth approximately $25,000. 59.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CASS has been the topic of a number of analyst reports. Raymond James Financial reaffirmed an “outperform” rating and issued a $50.00 price target on shares of Cass Information Systems in a research note on Thursday. Zacks Research raised shares of Cass Information Systems from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Cass Information Systems in a research report on Wednesday. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.00.

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. The company also processes and pays facility-related invoices, such as electricity, gas, waste, and telecommunications expenses; and provides telecom expense management solutions, as well as church management software solution and on-line platform to provide generosity services for faith-based and non-profit organizations.