Cass Information Systems (NASDAQ:CASS) Reaches New 12-Month Low - Here's What Happened

Key Points

• Cass Information Systems' share price hit a new 52-week low at $37.84, closing at $38.00, a decline from its previous close of $38.59, with a trade volume of 29,566 shares.
• Analysts have differing views on the stock, with Raymond James setting a price objective of $47.00, while Zacks Research downgraded the stock to a "strong sell" rating.
• The company reported a missed earnings estimate with $0.38 EPS against an expected $0.72, and revenue of $44.40 million, below forecasts of $48.12 million.

Cass Information Systems, Inc (NASDAQ:CASS - Get Free Report)'s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $37.84 and last traded at $38.00, with a volume of 29566 shares trading hands. The stock had previously closed at $38.59.

Analysts Set New Price Targets

Several brokerages have recently commented on CASS. Raymond James Financial set a $47.00 price objective on Cass Information Systems and gave the stock an "outperform" rating in a research note on Tuesday. Zacks Research lowered Cass Information Systems from a "hold" rating to a "strong sell" rating in a report on Tuesday. Weiss Ratings reissued a "hold (c)" rating on shares of Cass Information Systems in a report on Wednesday. Finally, Wall Street Zen raised Cass Information Systems from a "sell" rating to a "hold" rating in a report on Monday, August 18th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $46.50.

Cass Information Systems Stock Down 2.2%

The firm has a market cap of $499.06 million, a PE ratio of 20.30 and a beta of 0.46. The stock has a 50-day simple moving average of $41.67 and a two-hundred day simple moving average of $42.06.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The business services provider reported $0.38 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.34). The company had revenue of $44.40 million during the quarter, compared to analysts' expectations of $48.12 million. Cass Information Systems had a return on equity of 9.02% and a net margin of 13.22%. Research analysts expect that Cass Information Systems, Inc will post 2.62 earnings per share for the current year.

Cass Information Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, September 5th were paid a $0.31 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.24 annualized dividend and a dividend yield of 3.3%. Cass Information Systems's dividend payout ratio (DPR) is presently 66.67%.

Institutional Trading of Cass Information Systems

Several large investors have recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co boosted its position in Cass Information Systems by 8.0% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 15,040 shares of the business services provider's stock valued at $655,000 after acquiring an additional 1,110 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Cass Information Systems by 1,671.4% during 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 buying an additional 4,329 shares during the last quarter. BNP Paribas Financial Markets raised its stake 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 valued at $53,000 after buying an additional 413 shares during the last quarter. Jane Street Group LLC grew its position in shares of Cass Information Systems by 10.8% during the 2nd quarter. Jane Street Group LLC now owns 21,741 shares of the business services provider's stock valued at $945,000 after acquiring an additional 2,126 shares during the period. Finally, Quantinno Capital Management LP bought a new stake in shares of Cass Information Systems during the 2nd quarter valued at $307,000. 59.08% of the stock is owned by institutional investors.

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.

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