Cass Information Systems (NASDAQ:CASS) Sees Large Volume Increase - What's Next?

Cass Information Systems, Inc (NASDAQ:CASS - Get Free Report) saw unusually-high trading volume on Thursday . Approximately 93,442 shares traded hands during trading, an increase of 106% from the previous session's volume of 45,461 shares.The stock last traded at $46.11 and had previously closed at $45.67.

Analyst Ratings Changes

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

Cass Information Systems Stock Up 1.2%

The company has a market cap of $617.30 million, a PE ratio of 30.40 and a beta of 0.45. The stock's 50 day simple moving average is $42.48 and its two-hundred day simple moving average is $42.11.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The business services provider reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.03. The company had revenue of $46.41 million for the quarter, compared to the consensus estimate of $51.49 million. Cass Information Systems had a net margin of 10.71% and a return on equity of 8.84%. Analysts forecast that Cass Information Systems, Inc 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 paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend was Tuesday, June 3rd. Cass Information Systems's dividend payout ratio is currently 81.58%.

Hedge Funds Weigh In On Cass Information Systems

A number of large investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Cass Information Systems by 3.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,710 shares of the business services provider's stock worth $315,000 after purchasing an additional 227 shares during the period. Huntington National Bank raised its stake in shares of Cass Information Systems by 72.9% in the 4th quarter. Huntington National Bank now owns 690 shares of the business services provider's stock valued at $28,000 after acquiring an additional 291 shares during the period. Rhumbline Advisers raised its stake in shares of Cass Information Systems by 1.1% in the 4th quarter. Rhumbline Advisers now owns 27,482 shares of the business services provider's stock valued at $1,124,000 after acquiring an additional 303 shares during the period. First Trust Advisors LP raised its stake in shares of Cass Information Systems by 4.8% in the 4th quarter. First Trust Advisors LP now owns 8,637 shares of the business services provider's stock valued at $353,000 after acquiring an additional 393 shares during the period. Finally, AlphaQuest LLC raised its stake in shares of Cass Information Systems by 23.9% in the 1st quarter. AlphaQuest LLC now owns 2,606 shares of the business services provider's stock valued at $113,000 after acquiring an additional 502 shares during the period. Hedge funds and other institutional investors own 59.08% of the company's stock.

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.