Parkside Financial Bank & Trust Sells 1,000 Shares of Cass Information Systems, Inc. (NASDAQ:CASS)

Parkside Financial Bank & Trust reduced its position in Cass Information Systems, Inc. (NASDAQ:CASS) by 16.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 5,023 shares of the business services provider’s stock after selling 1,000 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Cass Information Systems were worth $205,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CASS. Bank of New York Mellon Corp boosted its stake in Cass Information Systems by 7.7% in 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 acquiring an additional 6,236 shares in the last quarter. Rhumbline Advisers increased its position 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 worth $1,124,000 after purchasing an additional 303 shares in the last quarter. Towneley Capital Management Inc DE acquired a new position in shares of Cass Information Systems during the fourth quarter worth $611,000. SG Americas Securities LLC grew its stake in Cass Information Systems by 30.5% during the 4th quarter. SG Americas Securities LLC now owns 6,295 shares of the business services provider’s stock worth $258,000 after buying an additional 1,470 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Cass Information Systems by 140.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 23,241 shares of the business services provider’s stock worth $964,000 after buying an additional 13,593 shares during the last quarter. 59.08% of the stock is currently owned by institutional investors.

Cass Information Systems Stock Performance

Cass Information Systems stock opened at $43.71 on Friday. The stock has a 50-day moving average of $41.95 and a two-hundred day moving average of $42.40. Cass Information Systems, Inc. has a one year low of $37.99 and a one year high of $49.16. The stock has a market cap of $593.10 million, a PE ratio of 31.67 and a beta of 0.72.

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

Cass Information Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Tuesday, March 4th. Cass Information Systems’s dividend payout ratio (DPR) is presently 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.