Cass Information Systems, Inc. (NASDAQ:CASS) to Issue Quarterly Dividend of $0.31

Cass Information Systems, Inc. (NASDAQ:CASS - Get Free Report) announced a quarterly dividend on Monday, April 21st, Wall Street Journal reports. Investors of record on Tuesday, June 3rd will be given a dividend of 0.31 per share by the business services provider on Friday, June 13th. This represents a $1.24 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Tuesday, June 3rd.

Cass Information Systems has increased its dividend payment by an average of 3.5% annually over the last three years and has raised its dividend every year for the last 23 years. Cass Information Systems has a payout ratio of 39.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Cass Information Systems to earn $3.15 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 39.4%.

Cass Information Systems Stock Down 1.2 %

Shares of Cass Information Systems stock traded down $0.49 during trading on Friday, reaching $40.57. The company's stock had a trading volume of 100,014 shares, compared to its average volume of 42,219. The company has a market cap of $546.28 million, a price-to-earnings ratio of 29.40 and a beta of 0.49. The firm's 50-day moving average is $42.08 and its two-hundred day moving average is $42.46. Cass Information Systems has a 52-week low of $37.99 and a 52-week high of $47.14.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last issued 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. The company had revenue of $46.41 million during the quarter, compared to analysts' expectations of $51.49 million. Cass Information Systems had a return on equity of 8.25% and a net margin of 9.62%. On average, equities research analysts anticipate that Cass Information Systems will post 2.62 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Piper Sandler lowered their price target on shares of Cass Information Systems from $47.00 to $46.00 and set an "overweight" rating for the company in a report on Wednesday.

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.