Cass Information Systems, Inc. (NASDAQ:CASS) Sees Large Growth in Short Interest

Cass Information Systems, Inc. (NASDAQ:CASS) was the target of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 194,900 shares, a growth of 5.2% from the October 15th total of 185,300 shares. Currently, 1.6% of the shares of the company are short sold. Based on an average daily trading volume, of 38,000 shares, the short-interest ratio is presently 5.1 days.

Cass Information Systems Price Performance

Shares of NASDAQ CASS opened at $44.50 on Monday. The firm has a market cap of $603.82 million, a price-to-earnings ratio of 26.81 and a beta of 0.70. The stock’s fifty day moving average price is $42.10 and its two-hundred day moving average price is $42.03. Cass Information Systems has a one year low of $37.99 and a one year high of $50.25.

Cass Information Systems (NASDAQ:CASS) last released its quarterly earnings results on Thursday, October 17th. The business services provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.29). Cass Information Systems had a return on equity of 9.92% and a net margin of 11.52%. The business had revenue of $50.55 million for the quarter, compared to the consensus estimate of $48.99 million. On average, equities analysts anticipate that Cass Information Systems will post 1.48 earnings per share for the current fiscal year.

Cass Information Systems Increases Dividend

The business 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 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Tuesday, December 3rd. This is a positive change from Cass Information Systems’s previous quarterly dividend of $0.30. Cass Information Systems’s dividend payout ratio (DPR) is 74.70%.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Cass Information Systems

A number of institutional investors have recently modified their holdings of CASS. Price T Rowe Associates Inc. MD raised its stake in Cass Information Systems by 30.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 29,291 shares of the business services provider’s stock valued at $1,412,000 after purchasing an additional 6,844 shares in the last quarter. Tributary Capital Management LLC lifted its holdings in shares of Cass Information Systems by 5.3% during the 3rd quarter. Tributary Capital Management LLC now owns 318,496 shares of the business services provider’s stock worth $13,211,000 after acquiring an additional 15,919 shares during the period. Speece Thorson Capital Group Inc. boosted its position in shares of Cass Information Systems by 37.6% during the 3rd quarter. Speece Thorson Capital Group Inc. now owns 305,495 shares of the business services provider’s stock worth $12,672,000 after acquiring an additional 83,414 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in Cass Information Systems by 81.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 17,903 shares of the business services provider’s stock valued at $862,000 after acquiring an additional 8,050 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Cass Information Systems by 7.2% during the second quarter. Bank of New York Mellon Corp now owns 90,157 shares of the business services provider’s stock valued at $3,613,000 after purchasing an additional 6,071 shares in the last quarter. 59.08% of the stock is currently owned by institutional investors.

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.