Short Interest in Cass Information Systems, Inc. (NASDAQ:CASS) Declines By 9.0%

Cass Information Systems, Inc. (NASDAQ:CASS) was the recipient of a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 160,800 shares, a drop of 9.0% from the January 15th total of 176,800 shares. Based on an average trading volume of 45,500 shares, the short-interest ratio is currently 3.5 days. Approximately 1.3% of the shares of the stock are sold short.

Cass Information Systems Price Performance

Cass Information Systems stock opened at $45.08 on Wednesday. The stock’s fifty day moving average price is $41.87 and its two-hundred day moving average price is $42.15. The firm has a market cap of $611.74 million, a PE ratio of 32.67 and a beta of 0.72. Cass Information Systems has a one year low of $37.99 and a one year high of $49.16.

Cass Information Systems (NASDAQ:CASS) last issued 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%. Sell-side analysts expect that Cass Information Systems will post 2.62 earnings per share for the current fiscal year.

Cass Information Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Tuesday, March 4th. Cass Information Systems’s dividend payout ratio is presently 89.86%.

Institutional Investors Weigh In On Cass Information Systems

Large investors have recently modified their holdings of the business. Huntington National Bank boosted its holdings in shares of Cass Information Systems by 72.9% in the 4th quarter. Huntington National Bank now owns 690 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 291 shares in the last quarter. Copeland Capital Management LLC acquired a new stake in shares of Cass Information Systems during the 3rd quarter valued at $37,000. Aquatic Capital Management LLC acquired a new stake in shares of Cass Information Systems during the 4th quarter valued at $44,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Cass Information Systems during the 4th quarter valued at $114,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Cass Information Systems during the 3rd quarter valued at $200,000. 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.