Cass Information Systems (NASDAQ:CASS) Stock Crosses Below 200 Day Moving Average – Here’s Why

Cass Information Systems, Inc. (NASDAQ:CASS)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $42.47 and traded as low as $42.09. Cass Information Systems shares last traded at $42.68, with a volume of 39,378 shares changing hands.

Cass Information Systems Trading Up 1.1 %

The firm has a market cap of $581.15 million, a price-to-earnings ratio of 31.28 and a beta of 0.67. The business’s 50-day simple moving average is $42.37 and its two-hundred day simple moving average is $42.47.

Cass Information Systems (NASDAQ:CASS) last released its earnings results on Thursday, January 23rd. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.10). Cass Information Systems had a net margin of 9.62% and a return on equity of 8.25%. On average, analysts forecast that Cass Information Systems, Inc. will post 2.62 earnings per share for the current fiscal year.

Cass Information Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend was Tuesday, March 4th. Cass Information Systems’s dividend payout ratio is presently 89.86%.

Institutional Trading of Cass Information Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Huntington National Bank grew its position in shares of Cass Information Systems by 72.9% during the 4th quarter. Huntington National Bank now owns 690 shares of the business services provider’s stock worth $28,000 after buying an additional 291 shares during the period. Aquatic Capital Management LLC acquired a new stake in shares of Cass Information Systems during the 4th quarter worth approximately $44,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Cass Information Systems during the 4th quarter worth approximately $114,000. Intech Investment Management LLC acquired a new stake in shares of Cass Information Systems during the 4th quarter worth approximately $207,000. Finally, SG Americas Securities LLC grew its position in shares of Cass Information Systems by 30.5% during the 4th 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 during the period. 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.