Janney Montgomery Scott LLC Sells 649 Shares of Cass Information Systems, Inc. (NASDAQ:CASS)

Janney Montgomery Scott LLC reduced its position in shares of Cass Information Systems, Inc. (NASDAQ:CASS) by 9.7% in the fourth quarter, Holdings Channel reports. The firm owned 6,009 shares of the business services provider’s stock after selling 649 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Cass Information Systems were worth $246,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in shares of Cass Information Systems by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 354,155 shares of the business services provider’s stock valued at $14,693,000 after acquiring an additional 13,607 shares during the last quarter. State Street Corp raised its stake in Cass Information Systems by 0.8% during the 3rd quarter. State Street Corp now owns 319,177 shares of the business services provider’s stock worth $13,239,000 after acquiring an additional 2,466 shares during the period. Tributary Capital Management LLC raised its stake in 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. raised its position in shares of Cass Information Systems by 37.6% during the third quarter. Speece Thorson Capital Group Inc. now owns 305,495 shares of the business services provider’s stock valued at $12,672,000 after buying an additional 83,414 shares during the last quarter. Finally, Foundry Partners LLC raised its position in shares of Cass Information Systems by 12.1% during the third quarter. Foundry Partners LLC now owns 122,405 shares of the business services provider’s stock valued at $5,077,000 after buying an additional 13,180 shares during the last quarter. Hedge funds and other institutional investors own 59.08% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler lifted 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 Stock Performance

Shares of CASS opened at $44.18 on Thursday. The company’s fifty day moving average is $41.84 and its 200 day moving average is $42.08. The stock has a market capitalization of $599.52 million, a PE ratio of 32.01 and a beta of 0.72. Cass Information Systems, Inc. has a fifty-two week low of $37.99 and a fifty-two week high of $49.16.

Cass Information Systems (NASDAQ:CASS) last posted its quarterly earnings data on Thursday, January 23rd. The business services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.10). Cass Information Systems had a return on equity of 8.25% and a net margin of 9.62%. As a group, research analysts forecast that Cass Information Systems, Inc. will post 2.62 earnings per share for the current year.

Cass Information Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date is Tuesday, March 4th. Cass Information Systems’s dividend payout ratio is currently 89.86%.

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.