Cass Information Systems, Inc (CASS) to Issue Quarterly Dividend of $0.32 on June 15th

Cass Information Systems, Inc (NASDAQ:CASS) announced a quarterly dividend on Tuesday, April 21st. Investors of record on Friday, June 5th will be given a dividend of 0.32 per share by the business services provider on Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Friday, June 5th.

Cass Information Systems has increased its dividend by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 23 years. Cass Information Systems has a payout ratio of 41.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Cass Information Systems to earn $3.55 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 36.1%.

Cass Information Systems Stock Performance

Shares of NASDAQ CASS opened at $46.47 on Wednesday. The firm has a fifty day moving average of $46.10 and a 200 day moving average of $44.32. The firm has a market cap of $598.07 million, a PE ratio of 17.67 and a beta of 0.43. Cass Information Systems has a one year low of $36.07 and a one year high of $52.45.

Cass Information Systems (NASDAQ:CASS) last posted its quarterly earnings data on Thursday, April 23rd. The business services provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.03. The business had revenue of $27.95 million for the quarter, compared to the consensus estimate of $49.40 million. Cass Information Systems had a net margin of 18.08% and a return on equity of 13.26%. On average, equities analysts predict that Cass Information Systems will post 3 EPS for the current fiscal year.

Institutional Investors Weigh In On Cass Information Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kingdom Financial Group LLC. acquired a new stake in shares of Cass Information Systems in the fourth quarter valued at about $26,000. Triumph Capital Management acquired a new position in Cass Information Systems during the third quarter worth about $25,000. New York State Teachers Retirement System purchased a new stake in Cass Information Systems during the 4th quarter valued at about $46,000. BNP Paribas Financial Markets grew its stake in Cass Information Systems by 50.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,227 shares of the business services provider’s stock valued at $53,000 after acquiring an additional 413 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Cass Information Systems by 1,206.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,594 shares of the business services provider’s stock valued at $63,000 after acquiring an additional 1,472 shares during the last quarter. Institutional investors and hedge funds own 59.08% of the company’s stock.

About Cass Information Systems

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. The company also processes and pays facility-related invoices, such as electricity, gas, waste, and telecommunications expenses; and provides telecom expense management solutions, as well as church management software solution and on-line platform to provide generosity services for faith-based and non-profit organizations.