Foundry Partners LLC Has $5 Million Position in Cass Information Systems, Inc. (NASDAQ:CASS)

Foundry Partners LLC lowered its position in Cass Information Systems, Inc. (NASDAQ:CASS) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 110,990 shares of the business services provider’s stock after selling 1,865 shares during the period. Foundry Partners LLC owned 0.82% of Cass Information Systems worth $5,000,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its holdings in Cass Information Systems by 7.9% during the third quarter. PNC Financial Services Group Inc. now owns 6,725 shares of the business services provider’s stock valued at $251,000 after purchasing an additional 490 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Cass Information Systems by 1.0% in the third quarter. Bank of New York Mellon Corp now owns 120,551 shares of the business services provider’s stock worth $4,491,000 after acquiring an additional 1,202 shares during the last quarter. First National Bank of Omaha grew its stake in shares of Cass Information Systems by 12.8% in the third quarter. First National Bank of Omaha now owns 12,485 shares of the business services provider’s stock worth $465,000 after acquiring an additional 1,414 shares during the last quarter. Pinnacle Associates Ltd. grew its stake in shares of Cass Information Systems by 2.7% in the third quarter. Pinnacle Associates Ltd. now owns 66,928 shares of the business services provider’s stock worth $2,493,000 after acquiring an additional 1,760 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in shares of Cass Information Systems by 6.1% in the third quarter. Commonwealth Equity Services LLC now owns 31,575 shares of the business services provider’s stock worth $1,176,000 after acquiring an additional 1,811 shares during the last quarter. Institutional investors and hedge funds own 59.08% of the company’s stock.

Cass Information Systems Stock Up 3.2 %

CASS traded up $1.35 during trading on Monday, reaching $43.00. 15,276 shares of the company’s stock were exchanged, compared to its average volume of 41,701. Cass Information Systems, Inc. has a fifty-two week low of $35.05 and a fifty-two week high of $50.25. The business has a 50 day moving average price of $46.80 and a 200 day moving average price of $43.39. The company has a market capitalization of $586.09 million, a P/E ratio of 19.02 and a beta of 0.73.

Cass Information Systems (NASDAQ:CASS) last posted its quarterly earnings results on Thursday, January 25th. The business services provider reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.13. Cass Information Systems had a net margin of 15.21% and a return on equity of 13.86%. The firm had revenue of $50.74 million for the quarter, compared to the consensus estimate of $48.33 million. As a group, research analysts forecast that Cass Information Systems, Inc. will post 2.74 EPS for the current year.

Cass Information Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $1.20 dividend on an annualized basis and a yield of 2.79%. Cass Information Systems’s dividend payout ratio is currently 54.79%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CASS. StockNews.com downgraded shares of Cass Information Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, April 17th. Piper Sandler upgraded shares of Cass Information Systems from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $45.00 to $51.00 in a research note on Monday, February 12th. Finally, TheStreet downgraded shares of Cass Information Systems from a “b-” rating to a “c” rating in a research note on Thursday, January 25th.

Cass Information Systems 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.