Cass Information Systems (NASDAQ:CASS - Get Free Report) announced its quarterly earnings results on Thursday. The business services provider reported $0.38 EPS for the quarter, missing analysts' consensus estimates of $0.72 by ($0.34), Zacks reports. The business had revenue of $44.40 million for the quarter, compared to analysts' expectations of $48.12 million. Cass Information Systems had a net margin of 13.22% and a return on equity of 9.09%.
Cass Information Systems Price Performance
CASS traded down $1.78 during trading on Friday, hitting $43.01. 81,621 shares of the stock traded hands, compared to its average volume of 46,056. The firm has a market capitalization of $574.61 million, a P/E ratio of 23.12 and a beta of 0.45. The firm has a 50-day moving average of $43.20 and a 200 day moving average of $42.34. Cass Information Systems has a 12-month low of $37.99 and a 12-month high of $47.14.
Cass Information Systems Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, September 5th will be given a dividend of $0.31 per share. The ex-dividend date is Friday, September 5th. This represents a $1.24 annualized dividend and a yield of 2.88%. Cass Information Systems's payout ratio is currently 66.67%.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on CASS shares. Raymond James Financial started coverage on shares of Cass Information Systems in a report on Tuesday, July 15th. They issued an "outperform" rating and a $50.00 price target on the stock. Wall Street Zen raised shares of Cass Information Systems from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. Finally, Piper Sandler decreased their price target on shares of Cass Information Systems from $47.00 to $46.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd.
View Our Latest Stock Report on Cass Information Systems
Institutional Investors Weigh In On Cass Information Systems
A hedge fund recently bought a new stake in Cass Information Systems stock. Jane Street Group LLC bought a new position in Cass Information Systems, Inc (NASDAQ:CASS - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The firm bought 19,615 shares of the business services provider's stock, valued at approximately $848,000. Jane Street Group LLC owned 0.15% of Cass Information Systems at the end of the most recent quarter. Hedge funds and other institutional investors own 59.08% of the company's stock.
About Cass Information Systems
(
Get Free Report)
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.
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