WBI Investments Inc. acquired a new stake in shares of Cass Information Systems, Inc (NASDAQ:CASS) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 8,411 shares of the business services provider’s stock, valued at approximately $552,000. WBI Investments Inc. owned about 0.08% of Cass Information Systems at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CASS. Legal & General Group Plc raised its stake in Cass Information Systems by 4.0% in the 2nd quarter. Legal & General Group Plc now owns 2,885 shares of the business services provider’s stock worth $189,000 after acquiring an additional 110 shares during the last quarter. Victory Capital Management Inc. raised its stake in Cass Information Systems by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,087 shares of the business services provider’s stock worth $203,000 after acquiring an additional 464 shares during the last quarter. Royce & Associates LP raised its stake in Cass Information Systems by 1.6% in the 2nd quarter. Royce & Associates LP now owns 50,000 shares of the business services provider’s stock worth $3,282,000 after acquiring an additional 800 shares during the last quarter. WCM Investment Management CA raised its stake in Cass Information Systems by 1.4% in the 2nd quarter. WCM Investment Management CA now owns 84,549 shares of the business services provider’s stock worth $5,550,000 after acquiring an additional 1,205 shares during the last quarter. Finally, Crawford Investment Counsel Inc. raised its stake in Cass Information Systems by 31.7% in the 2nd quarter. Crawford Investment Counsel Inc. now owns 50,738 shares of the business services provider’s stock worth $3,330,000 after acquiring an additional 12,208 shares during the last quarter. Hedge funds and other institutional investors own 50.94% of the company’s stock.

Separately, BidaskClub lowered Cass Information Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th.

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Cass Information Systems, Inc (NASDAQ:CASS) opened at 60.86 on Friday. The stock has a market cap of $681.81 million, a price-to-earnings ratio of 27.05 and a beta of 1.17. Cass Information Systems, Inc has a 52 week low of $52.69 and a 52 week high of $74.83. The company has a 50-day moving average price of $61.61 and a 200-day moving average price of $63.96.

Cass Information Systems (NASDAQ:CASS) last announced its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.58 earnings per share for the quarter. Cass Information Systems had a net margin of 19.63% and a return on equity of 11.92%. The firm had revenue of $33.66 million during the quarter. Equities research analysts anticipate that Cass Information Systems, Inc will post $2.07 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Tuesday, September 5th were given a $0.23 dividend. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $0.92 dividend on an annualized basis and a yield of 1.51%. Cass Information Systems’s dividend payout ratio (DPR) is presently 40.71%.

About Cass Information Systems

Cass Information Systems, Inc (Cass) is a provider of payment and information processing services to manufacturing, distribution and retail enterprises across the United States with operating locations in Missouri, Ohio, Massachusetts, South Carolina and Florida. The Company provides transportation invoice rating, payment processing, auditing, accounting and transportation information.

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Institutional Ownership by Quarter for Cass Information Systems (NASDAQ:CASS)

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