Bank of New York Mellon Corp Acquires 6,236 Shares of Cass Information Systems, Inc. (NASDAQ:CASS)

Bank of New York Mellon Corp increased its position in Cass Information Systems, Inc. (NASDAQ:CASS - Free Report) by 7.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,456 shares of the business services provider's stock after buying an additional 6,236 shares during the quarter. Bank of New York Mellon Corp owned 0.64% of Cass Information Systems worth $3,578,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC purchased a new position in Cass Information Systems during the 3rd quarter valued at $3,029,000. Barclays PLC increased its position in Cass Information Systems by 364.9% during the 3rd quarter. Barclays PLC now owns 21,938 shares of the business services provider's stock valued at $910,000 after purchasing an additional 17,219 shares during the period. Towneley Capital Management Inc DE purchased a new position in Cass Information Systems during the 4th quarter valued at $611,000. Geode Capital Management LLC increased its position in 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 purchasing an additional 13,607 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Cass Information Systems by 140.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 23,241 shares of the business services provider's stock valued at $964,000 after purchasing an additional 13,593 shares during the period. 59.08% of the stock is owned by hedge funds and other institutional investors.

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Cass Information Systems Price Performance

Cass Information Systems stock traded down $0.84 during mid-day trading on Friday, reaching $42.86. 104,926 shares of the company traded hands, compared to its average volume of 40,680. The firm's 50 day moving average price is $42.64 and its 200 day moving average price is $42.49. The firm has a market capitalization of $577.11 million, a price-to-earnings ratio of 31.06 and a beta of 0.67. Cass Information Systems, Inc. has a 52-week low of $37.99 and a 52-week high of $49.16.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The business services provider reported $0.33 earnings per share (EPS) 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%. On average, sell-side analysts anticipate that Cass Information Systems, Inc. will post 2.62 EPS for the current year.

Cass Information Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date was Tuesday, March 4th. Cass Information Systems's dividend payout ratio (DPR) is presently 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.