Cass Information Systems (NASDAQ:CASS) Reaches New 1-Year High – What’s Next?

Cass Information Systems, Inc (NASDAQ:CASS)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $59.63 and last traded at $57.99, with a volume of 26475 shares traded. The stock had previously closed at $57.70.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CASS. Piper Sandler restated a “neutral” rating and issued a $61.00 price objective (up from $52.00) on shares of Cass Information Systems in a research note on Thursday, August 6th. Raymond James Financial increased their target price on shares of Cass Information Systems from $52.00 to $56.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Zacks Research lowered Cass Information Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Cass Information Systems in a research report on Tuesday, August 4th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.50.

Cass Information Systems Stock Performance

The business’s 50-day moving average is $53.33 and its two-hundred day moving average is $48.40. The stock has a market capitalization of $731.77 million, a PE ratio of 20.55 and a beta of 0.41.

Cass Information Systems (NASDAQ:CASS) last announced its quarterly earnings data on Thursday, July 23rd. The business services provider reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.01). The firm had revenue of $27.04 million during the quarter, compared to analyst estimates of $51.02 million. Cass Information Systems had a net margin of 18.45% and a return on equity of 14.89%. Equities analysts forecast that Cass Information Systems, Inc will post 2.99 EPS for the current year.

Cass Information Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Friday, September 4th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.28 annualized dividend and a dividend yield of 2.2%. Cass Information Systems’s payout ratio is presently 46.04%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Empowered Funds LLC acquired a new stake in Cass Information Systems in the second quarter valued at about $225,000. Punch & Associates Investment Management Inc. acquired a new position in Cass Information Systems during the 2nd quarter worth approximately $8,033,000. Bank of America Corp DE acquired a new position in Cass Information Systems during the 2nd quarter worth approximately $629,000. Odyssean LLC purchased a new position in shares of Cass Information Systems during the 2nd quarter worth approximately $979,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Cass Information Systems during the 2nd quarter worth approximately $272,000. 59.08% of the stock is owned by hedge funds and other institutional investors.

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.