Cass Information Systems (NASDAQ:CASS) CEO Eric H. Brunngraber sold 3,268 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $62.51, for a total value of $204,282.68. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Cass Information Systems (NASDAQ CASS) opened at $64.01 on Friday. The stock has a market capitalization of $786.23, a P/E ratio of 30.35 and a beta of 1.21. Cass Information Systems has a 52-week low of $58.55 and a 52-week high of $74.83.

Cass Information Systems (NASDAQ:CASS) last posted its quarterly earnings results on Thursday, October 26th. The business services provider reported $0.61 earnings per share (EPS) for the quarter. Cass Information Systems had a return on equity of 12.05% and a net margin of 19.71%. The business had revenue of $34.30 million for the quarter.

Cass Information Systems declared that its Board of Directors has authorized a stock buyback plan on Thursday, October 26th that permits the company to buyback 500,000 shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Tuesday, December 5th were paid a dividend of $0.24 per share. The ex-dividend date was Monday, December 4th. This represents a $0.96 annualized dividend and a yield of 1.50%. This is a boost from Cass Information Systems’s previous quarterly dividend of $0.21. Cass Information Systems’s dividend payout ratio (DPR) is currently 45.52%.

Separately, BidaskClub upgraded Cass Information Systems from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 22nd.

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Cass Information Systems by 3.8% in the 2nd quarter. Vanguard Group Inc. now owns 505,761 shares of the business services provider’s stock worth $33,198,000 after acquiring an additional 18,387 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Cass Information Systems by 5.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 349,908 shares of the business services provider’s stock worth $22,198,000 after acquiring an additional 19,309 shares in the last quarter. State Street Corp lifted its stake in Cass Information Systems by 4.3% in the 2nd quarter. State Street Corp now owns 207,639 shares of the business services provider’s stock worth $13,629,000 after acquiring an additional 8,522 shares in the last quarter. Northern Trust Corp lifted its stake in Cass Information Systems by 3.3% in the 2nd quarter. Northern Trust Corp now owns 195,796 shares of the business services provider’s stock worth $12,852,000 after acquiring an additional 6,277 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Cass Information Systems by 2.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 147,782 shares of the business services provider’s stock worth $9,375,000 after acquiring an additional 4,024 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

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About Cass Information Systems

Cass Information Systems, Inc (Cass) is a provider of payment and information processing services to manufacturing, distribution and retail enterprises across the United States with operating locations in Missouri, Ohio, Massachusetts, South Carolina and Florida. The Company provides transportation invoice rating, payment processing, auditing, accounting and transportation information.

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