Hotchkis & Wiley Capital Management LLC Buys 67,950 Shares of Cass Information Systems, Inc $CASS

Key Points

• Hotchkis & Wiley Capital Management LLC increased its stake in Cass Information Systems by 92% during Q1, now holding 141,770 shares valued at approximately $6.13 million.
• Cass Information Systems reported a disappointing earnings result, with $0.38 EPS for the last quarter, significantly missing the consensus estimate of $0.72.
• The company recently declared a quarterly dividend of $0.31, which will be paid on September 15, representing a 2.9% dividend yield.

Hotchkis & Wiley Capital Management LLC grew its position in shares of Cass Information Systems, Inc (NASDAQ:CASS - Free Report) by 92.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 141,770 shares of the business services provider's stock after acquiring an additional 67,950 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 1.06% of Cass Information Systems worth $6,132,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Cass Information Systems by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 801,473 shares of the business services provider's stock worth $34,664,000 after acquiring an additional 4,504 shares during the period. Heartland Advisors Inc. grew its holdings in shares of Cass Information Systems by 13.7% during the 1st quarter. Heartland Advisors Inc. now owns 473,926 shares of the business services provider's stock worth $20,497,000 after acquiring an additional 56,979 shares during the period. Fenimore Asset Management Inc grew its holdings in shares of Cass Information Systems by 0.8% during the 1st quarter. Fenimore Asset Management Inc now owns 338,882 shares of the business services provider's stock worth $14,657,000 after acquiring an additional 2,850 shares during the period. Northern Trust Corp grew its holdings in shares of Cass Information Systems by 3.7% during the 4th quarter. Northern Trust Corp now owns 136,568 shares of the business services provider's stock worth $5,587,000 after acquiring an additional 4,836 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in shares of Cass Information Systems by 1.9% during the 4th quarter. Ameriprise Financial Inc. now owns 118,070 shares of the business services provider's stock worth $4,830,000 after acquiring an additional 2,221 shares during the period. Hedge funds and other institutional investors own 59.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CASS shares. Raymond James Financial started coverage on Cass Information Systems in a report on Tuesday, July 15th. They set an "outperform" rating and a $50.00 target price on the stock. Wall Street Zen upgraded Cass Information Systems from a "sell" rating to a "hold" rating in a research note on Monday, August 18th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Cass Information Systems currently has an average rating of "Buy" and a consensus price target of $48.00.

Cass Information Systems Trading Up 0.3%

CASS traded up $0.15 during trading on Friday, hitting $43.12. 34,094 shares of the company's stock traded hands, compared to its average volume of 62,683. The company's 50 day simple moving average is $43.01 and its two-hundred day simple moving average is $42.50. Cass Information Systems, Inc has a 12-month low of $38.01 and a 12-month high of $47.14. The stock has a market capitalization of $570.05 million, a price-to-earnings ratio of 23.18 and a beta of 0.45.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last issued its earnings results 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). Cass Information Systems had a net margin of 13.22% and a return on equity of 9.02%. The business had revenue of $44.40 million for the quarter, compared to analysts' expectations of $48.12 million. On average, equities analysts expect that Cass Information Systems, Inc will post 2.62 EPS for the current year.

Cass Information Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, September 5th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, September 5th. Cass Information Systems's dividend payout ratio is presently 66.67%.

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.