Cass Information Systems, Inc. (NASDAQ:CASS) Holdings Lowered by Commerce Bank

Commerce Bank cut its stake in Cass Information Systems, Inc. (NASDAQ:CASS) by 1.1% in the 4th quarter, HoldingsChannel reports. The fund owned 63,046 shares of the business services provider’s stock after selling 700 shares during the period. Commerce Bank’s holdings in Cass Information Systems were worth $2,579,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CASS. Huntington National Bank boosted its holdings in Cass Information Systems by 72.9% during the fourth quarter. Huntington National Bank now owns 690 shares of the business services provider’s stock worth $28,000 after buying an additional 291 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Cass Information Systems in the 4th quarter worth $114,000. Intech Investment Management LLC acquired a new stake in shares of Cass Information Systems during the fourth quarter worth $207,000. SG Americas Securities LLC lifted its holdings in shares of Cass Information Systems by 30.5% during the fourth quarter. SG Americas Securities LLC now owns 6,295 shares of the business services provider’s stock valued at $258,000 after purchasing an additional 1,470 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Cass Information Systems in the 4th quarter worth about $276,000. Institutional investors and hedge funds own 59.08% of the company’s stock.

Cass Information Systems Price Performance

CASS stock opened at $39.44 on Tuesday. The company’s 50 day simple moving average is $42.41 and its 200-day simple moving average is $42.46. Cass Information Systems, Inc. has a 52-week low of $37.99 and a 52-week high of $47.14. The firm has a market capitalization of $531.06 million, a P/E ratio of 28.58 and a beta of 0.49.

Cass Information Systems (NASDAQ:CASS) last released its earnings results on Thursday, April 17th. The business services provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.03. Cass Information Systems had a return on equity of 8.25% and a net margin of 9.62%. The company had revenue of $46.41 million for the quarter, compared to analysts’ expectations of $51.49 million. Sell-side analysts predict 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 will be paid on Friday, June 13th. Shareholders of record on Tuesday, June 3rd will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.14%. The ex-dividend date is Tuesday, June 3rd. Cass Information Systems’s dividend payout ratio is 89.86%.

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.