Short Interest in Cass Information Systems, Inc. (NASDAQ:CASS) Declines By 6.8%

Cass Information Systems, Inc. (NASDAQ:CASS) was the target of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 155,400 shares, a decrease of 6.8% from the October 15th total of 166,700 shares. Currently, 1.3% of the company’s stock are short sold. Based on an average daily trading volume, of 41,600 shares, the days-to-cover ratio is currently 3.7 days.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on Cass Information Systems in a research note on Thursday, October 5th. They issued a “hold” rating for the company.

Cass Information Systems Trading Up 0.5 %

Shares of CASS stock traded up $0.19 during trading on Friday, hitting $41.38. The company’s stock had a trading volume of 29,153 shares, compared to its average volume of 52,287. The company has a market cap of $562.60 million, a PE ratio of 18.61 and a beta of 0.61. The business has a fifty day moving average of $38.03 and a 200-day moving average of $38.48. Cass Information Systems has a 52 week low of $35.05 and a 52 week high of $51.48.

Cass Information Systems (NASDAQ:CASS) last released its earnings results on Thursday, October 19th. The business services provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.01). The business had revenue of $49.22 million during the quarter, compared to the consensus estimate of $48.08 million. Cass Information Systems had a net margin of 15.81% and a return on equity of 14.64%. As a group, research analysts predict that Cass Information Systems will post 2.04 EPS for the current year.

Cass Information Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Tuesday, December 5th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Monday, December 4th. This is a positive change from Cass Information Systems’s previous quarterly dividend of $0.29. This represents a $1.20 annualized dividend and a dividend yield of 2.90%. Cass Information Systems’s dividend payout ratio is currently 53.57%.

Insider Buying and Selling

In other news, CEO Martin H. Resch purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, October 23rd. The shares were acquired at an average cost of $36.50 per share, with a total value of $36,500.00. Following the purchase, the chief executive officer now owns 22,262 shares in the company, valued at $812,563. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.39% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cass Information Systems

Several institutional investors have recently modified their holdings of the business. Janney Montgomery Scott LLC bought a new position in Cass Information Systems during the first quarter valued at $303,000. Boston Partners grew its holdings in Cass Information Systems by 11.5% during the first quarter. Boston Partners now owns 87,905 shares of the business services provider’s stock valued at $3,807,000 after purchasing an additional 9,091 shares during the period. ProShare Advisors LLC grew its holdings in Cass Information Systems by 9.0% during the first quarter. ProShare Advisors LLC now owns 73,461 shares of the business services provider’s stock valued at $3,182,000 after purchasing an additional 6,058 shares during the period. Pinnacle Associates Ltd. bought a new position in Cass Information Systems during the second quarter valued at $2,527,000. Finally, Raymond James & Associates boosted its holdings in shares of Cass Information Systems by 20.5% in the second quarter. Raymond James & Associates now owns 25,913 shares of the business services provider’s stock worth $1,005,000 after acquiring an additional 4,414 shares during the period. 57.60% of the stock is 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.