Bank of New York Mellon Corp Purchases 1,202 Shares of Cass Information Systems, Inc. (NASDAQ:CASS)

Bank of New York Mellon Corp boosted its position in Cass Information Systems, Inc. (NASDAQ:CASSFree Report) by 1.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 120,551 shares of the business services provider’s stock after purchasing an additional 1,202 shares during the quarter. Bank of New York Mellon Corp’s holdings in Cass Information Systems were worth $4,491,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC boosted its stake in Cass Information Systems by 108,000.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 45,277,674 shares of the business services provider’s stock valued at $2,074,623,000 after purchasing an additional 45,235,789 shares during the period. BlackRock Inc. lifted its position in shares of Cass Information Systems by 1.2% during the 1st quarter. BlackRock Inc. now owns 1,001,903 shares of the business services provider’s stock valued at $36,979,000 after acquiring an additional 11,414 shares during the period. Vanguard Group Inc. lifted its position in shares of Cass Information Systems by 12.7% during the 3rd quarter. Vanguard Group Inc. now owns 863,432 shares of the business services provider’s stock valued at $29,952,000 after acquiring an additional 97,167 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Cass Information Systems by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 556,317 shares of the business services provider’s stock valued at $24,094,000 after acquiring an additional 2,470 shares during the period. Finally, State Street Corp lifted its position in shares of Cass Information Systems by 0.6% during the 3rd quarter. State Street Corp now owns 403,642 shares of the business services provider’s stock valued at $14,002,000 after acquiring an additional 2,304 shares during the period. 57.60% of the stock is currently owned by institutional investors.

Cass Information Systems Stock Performance

NASDAQ:CASS opened at $43.16 on Thursday. The stock has a fifty day moving average price of $43.36 and a 200-day moving average price of $40.08. The company has a market cap of $586.98 million, a price-to-earnings ratio of 19.80 and a beta of 0.67. Cass Information Systems, Inc. has a fifty-two week low of $35.05 and a fifty-two week high of $51.48.

Cass Information Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, March 4th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.78%. Cass Information Systems’s dividend payout ratio (DPR) is currently 55.05%.

Wall Street Analysts Forecast Growth

CASS has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on Cass Information Systems in a research report on Thursday, October 5th. They set a “hold” rating for the company. TheStreet downgraded Cass Information Systems from a “b-” rating to a “c” rating in a research report on Thursday, January 25th.

Read Our Latest Stock Report on CASS

About Cass Information Systems

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Cass Information Systems (NASDAQ:CASS)

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