Wall Street Zen Downgrades Cass Information Systems (NASDAQ:CASS) to Sell

Wall Street Zen cut shares of Cass Information Systems (NASDAQ:CASS - Free Report) from a hold rating to a sell rating in a research report released on Saturday morning.

Separately, Piper Sandler dropped their price objective on shares of Cass Information Systems from $47.00 to $46.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd.

Cass Information Systems Price Performance

CASS stock traded down $0.15 during midday trading on Friday, hitting $45.36. The stock had a trading volume of 61,839 shares, compared to its average volume of 45,779. The company's 50-day moving average price is $42.77 and its 200 day moving average price is $42.17. The firm has a market cap of $606.01 million, a PE ratio of 29.84 and a beta of 0.45. Cass Information Systems has a 12-month low of $37.99 and a 12-month high of $47.14.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The business services provider reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.03. The business had revenue of $46.41 million during the quarter, compared to the consensus estimate of $51.49 million. Cass Information Systems had a return on equity of 8.84% and a net margin of 10.71%. As a group, sell-side analysts anticipate that Cass Information Systems will post 2.62 EPS for the current year.

Cass Information Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Tuesday, June 3rd were issued a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.73%. Cass Information Systems's dividend payout ratio (DPR) is presently 81.58%.

Institutional Trading of Cass Information Systems

A number of institutional investors and hedge funds have recently made changes to their positions in CASS. Emmett Investment Management LP acquired a new stake in Cass Information Systems during the fourth quarter worth about $3,715,000. Nuveen LLC acquired a new stake in Cass Information Systems during the 1st quarter worth approximately $3,507,000. Hotchkis & Wiley Capital Management LLC increased its position in Cass Information Systems by 92.0% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 141,770 shares of the business services provider's stock worth $6,132,000 after purchasing an additional 67,950 shares in the last quarter. Heartland Advisors Inc. raised its holdings in Cass Information Systems by 13.7% in the first quarter. Heartland Advisors Inc. now owns 473,926 shares of the business services provider's stock valued at $20,497,000 after buying an additional 56,979 shares during the period. Finally, Uniplan Investment Counsel Inc. lifted its position in Cass Information Systems by 114.4% during the first quarter. Uniplan Investment Counsel Inc. now owns 90,919 shares of the business services provider's stock valued at $3,932,000 after buying an additional 48,516 shares in the last quarter. 59.08% of the stock is currently owned by institutional investors and hedge funds.

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.