Focus Partners Wealth Has $31.19 Million Holdings in Cass Information Systems, Inc. (NASDAQ:CASS)

Focus Partners Wealth decreased its stake in Cass Information Systems, Inc. (NASDAQ:CASS - Free Report) by 8.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 762,482 shares of the business services provider's stock after selling 67,053 shares during the period. Focus Partners Wealth owned about 5.62% of Cass Information Systems worth $31,193,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Huntington National Bank boosted its stake in shares of Cass Information Systems by 72.9% during the fourth quarter. Huntington National Bank now owns 690 shares of the business services provider's stock valued at $28,000 after purchasing an additional 291 shares in the last quarter. Aquatic Capital Management LLC bought a new stake in Cass Information Systems during the 4th quarter worth approximately $44,000. KLP Kapitalforvaltning AS bought a new stake in Cass Information Systems during the 4th quarter worth approximately $114,000. Intech Investment Management LLC acquired a new position in Cass Information Systems in the 4th quarter valued at approximately $207,000. Finally, SG Americas Securities LLC increased its position in Cass Information Systems by 30.5% in the 4th quarter. SG Americas Securities LLC now owns 6,295 shares of the business services provider's stock valued at $258,000 after acquiring an additional 1,470 shares during the period. Institutional investors own 59.08% of the company's stock.

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 Performance

Shares of CASS stock traded up $0.32 on Thursday, hitting $43.24. The company had a trading volume of 28,428 shares, compared to its average volume of 44,060. Cass Information Systems, Inc. has a twelve month low of $37.99 and a twelve month high of $47.14. The firm has a market cap of $577.69 million, a P/E ratio of 31.33 and a beta of 0.43. The stock's 50-day moving average is $41.64 and its two-hundred day moving average is $42.48.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last released its earnings results on Thursday, April 17th. The business services provider reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.03. Cass Information Systems had a net margin of 9.62% and a return on equity of 8.25%. The business had revenue of $46.41 million during the quarter, compared to the consensus estimate of $51.49 million. Equities research analysts predict that Cass Information Systems, Inc. will post 2.62 EPS for the current year.

Cass Information Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Tuesday, June 3rd will be given a dividend of $0.31 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $1.24 dividend on an annualized basis and a yield of 2.87%. Cass Information Systems's dividend payout ratio (DPR) is currently 81.58%.

Cass Information Systems 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.