Northern Trust Corp Increases Stock Holdings in Cass Information Systems, Inc. (NASDAQ:CASS)

Northern Trust Corp lifted its position in Cass Information Systems, Inc. (NASDAQ:CASS) by 3.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,568 shares of the business services provider’s stock after buying an additional 4,836 shares during the quarter. Northern Trust Corp owned approximately 1.01% of Cass Information Systems worth $5,587,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in shares of Cass Information Systems by 140.9% in the third quarter. JPMorgan Chase & Co. now owns 23,241 shares of the business services provider’s stock worth $964,000 after buying an additional 13,593 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Cass Information Systems in the fourth quarter worth about $276,000. Towneley Capital Management Inc DE purchased a new stake in shares of Cass Information Systems in the fourth quarter worth about $611,000. SG Americas Securities LLC lifted its holdings in shares of Cass Information Systems by 30.5% in the fourth quarter. SG Americas Securities LLC now owns 6,295 shares of the business services provider’s stock worth $258,000 after buying an additional 1,470 shares in the last quarter. Finally, Heartland Advisors Inc. lifted its holdings in shares of Cass Information Systems by 11.6% in the fourth quarter. Heartland Advisors Inc. now owns 416,947 shares of the business services provider’s stock worth $17,057,000 after buying an additional 43,214 shares in the last quarter. 59.08% of the stock is owned by hedge funds and other institutional investors.

Cass Information Systems Trading Up 0.0%

CASS stock opened at $42.92 on Wednesday. The company’s 50 day moving average is $41.66 and its 200 day moving average is $42.49. The stock has a market cap of $573.41 million, a price-to-earnings ratio of 31.10 and a beta of 0.43. Cass Information Systems, Inc. has a 1-year low of $37.99 and a 1-year high of $47.14.

Cass Information Systems (NASDAQ:CASS) last posted its quarterly earnings data on Thursday, April 17th. The business services provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.03. The company had revenue of $46.41 million for the quarter, compared to analysts’ expectations of $51.49 million. Cass Information Systems had a net margin of 9.62% and a return on equity of 8.25%. As a group, sell-side analysts forecast that Cass Information Systems, Inc. will post 2.62 EPS for the current fiscal year.

Cass Information Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Tuesday, June 3rd will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Tuesday, June 3rd. Cass Information Systems’s dividend payout ratio (DPR) is 81.58%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler lowered their price target on shares of Cass Information Systems from $47.00 to $46.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd.

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.