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

Cass Information Systems (NASDAQ:CASS) released its quarterly earnings data on Thursday. The business services provider reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04, Zacks reports. The firm had revenue of $49.89 million for the quarter, compared to analysts’ expectations of $49.60 million. Cass Information Systems had a return on equity of 13.33% and a net margin of 18.41%.

Cass Information Systems Price Performance

Shares of NASDAQ:CASS opened at $44.44 on Friday. The firm’s 50-day moving average is $42.25 and its two-hundred day moving average is $41.61. Cass Information Systems has a 1 year low of $36.07 and a 1 year high of $47.00. The firm has a market capitalization of $581.45 million, a PE ratio of 16.96 and a beta of 0.44.

Cass Information Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd will be paid a dividend of $0.32 per share. The ex-dividend date is Tuesday, March 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 2.9%. Cass Information Systems’s dividend payout ratio is 48.85%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CASS shares. 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 upgraded shares of Cass Information Systems from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cass Information Systems in a research note on Wednesday. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.00.

Hedge Funds Weigh In On Cass Information Systems

Several institutional investors have recently modified their holdings of the business. Triumph Capital Management acquired a new stake in shares of Cass Information Systems in the third quarter valued at $25,000. BNP Paribas Financial Markets increased its holdings 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 worth $53,000 after purchasing an additional 413 shares during the period. Russell Investments Group Ltd. increased its holdings in Cass Information Systems by 1,206.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,594 shares of the business services provider’s stock worth $63,000 after purchasing an additional 1,472 shares during the period. Tower Research Capital LLC TRC raised its position in Cass Information Systems by 1,671.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,588 shares of the business services provider’s stock valued at $199,000 after purchasing an additional 4,329 shares in the last quarter. Finally, Sei Investments Co. purchased a new position in shares of Cass Information Systems in the 2nd quarter valued at about $229,000. 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. 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.