Quest Partners LLC Raises Stock Position in Cass Information Systems, Inc. (NASDAQ:CASS)

Quest Partners LLC increased its position in shares of Cass Information Systems, Inc. (NASDAQ:CASS) by 3,445.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,701 shares of the business services provider’s stock after acquiring an additional 6,512 shares during the quarter. Quest Partners LLC’s holdings in Cass Information Systems were worth $278,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. US Bancorp DE increased its position in shares of Cass Information Systems by 5.4% during the third quarter. US Bancorp DE now owns 7,078 shares of the business services provider’s stock worth $294,000 after purchasing an additional 360 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in Cass Information Systems by 2.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 32,147 shares of the business services provider’s stock worth $1,288,000 after buying an additional 808 shares during the last quarter. Copeland Capital Management LLC acquired a new position in Cass Information Systems during the 3rd quarter valued at about $37,000. Tributary Capital Management LLC raised its stake in Cass Information Systems by 0.3% in the second quarter. Tributary Capital Management LLC now owns 302,577 shares of the business services provider’s stock valued at $12,124,000 after buying an additional 912 shares during the last quarter. Finally, Ellsworth Advisors LLC boosted its holdings in Cass Information Systems by 9.4% in the second quarter. Ellsworth Advisors LLC now owns 10,809 shares of the business services provider’s stock worth $433,000 after acquiring an additional 930 shares in the last quarter. Hedge funds and other institutional investors own 59.08% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler increased their price objective on shares of Cass Information Systems from $44.00 to $45.00 and gave the company an “overweight” rating in a research report on Friday, October 18th.

Cass Information Systems Price Performance

NASDAQ CASS opened at $44.54 on Wednesday. The company has a market cap of $604.36 million, a price-to-earnings ratio of 26.83 and a beta of 0.70. The stock’s fifty day moving average price is $42.56 and its 200 day moving average price is $42.02. Cass Information Systems, Inc. has a 1 year low of $37.99 and a 1 year high of $50.25.

Cass Information Systems (NASDAQ:CASS) last announced its quarterly earnings data on Thursday, October 17th. The business services provider reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.29). Cass Information Systems had a net margin of 11.52% and a return on equity of 9.92%. The firm had revenue of $50.55 million during the quarter, compared to analyst estimates of $48.99 million. Research analysts expect that Cass Information Systems, Inc. will post 1.48 earnings per share for the current year.

Cass Information Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 2.78%. This is a boost from Cass Information Systems’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Tuesday, December 3rd. Cass Information Systems’s payout ratio is presently 74.70%.

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.