Short Interest in Cass Information Systems, Inc. (NASDAQ:CASS) Increases By 5.2%

Cass Information Systems, Inc. (NASDAQ:CASS - Get Free Report) was the target of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 194,900 shares, a growth of 5.2% from the October 15th total of 185,300 shares. Approximately 1.6% of the shares of the company are short sold. Based on an average trading volume of 38,000 shares, the days-to-cover ratio is presently 5.1 days.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler raised their target price on Cass Information Systems from $44.00 to $45.00 and gave the company an "overweight" rating in a research report on Friday, October 18th.

Hedge Funds Weigh In On Cass Information Systems

Several large investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its stake in Cass Information Systems by 30.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,291 shares of the business services provider's stock worth $1,412,000 after purchasing an additional 6,844 shares during the period. Tributary Capital Management LLC boosted its holdings in Cass Information Systems by 5.3% in the 3rd quarter. Tributary Capital Management LLC now owns 318,496 shares of the business services provider's stock valued at $13,211,000 after purchasing an additional 15,919 shares during the period. Speece Thorson Capital Group Inc. grew its position in shares of Cass Information Systems by 37.6% during the 3rd quarter. Speece Thorson Capital Group Inc. now owns 305,495 shares of the business services provider's stock valued at $12,672,000 after purchasing an additional 83,414 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of Cass Information Systems by 81.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 17,903 shares of the business services provider's stock worth $862,000 after purchasing an additional 8,050 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Cass Information Systems by 7.2% in the second quarter. Bank of New York Mellon Corp now owns 90,157 shares of the business services provider's stock worth $3,613,000 after buying an additional 6,071 shares in the last quarter. Hedge funds and other institutional investors own 59.08% of the company's stock.

Cass Information Systems Trading Down 0.4 %

Shares of CASS stock traded down $0.20 during trading hours on Monday, hitting $44.30. 28,838 shares of the company were exchanged, compared to its average volume of 41,636. The stock has a market capitalization of $601.11 million, a price-to-earnings ratio of 26.81 and a beta of 0.70. The firm has a fifty day simple moving average of $42.10 and a 200 day simple moving average of $42.02. Cass Information Systems has a 52-week low of $37.99 and a 52-week high of $50.25.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last released its earnings results on Thursday, October 17th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.29). The firm had revenue of $50.55 million during the quarter, compared to analysts' expectations of $48.99 million. Cass Information Systems had a return on equity of 9.92% and a net margin of 11.52%. Sell-side analysts anticipate that Cass Information Systems will post 1.48 EPS for the current year.

Cass Information Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd will be issued a dividend of $0.31 per share. The ex-dividend date is Tuesday, December 3rd. This is an increase from Cass Information Systems's previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 2.80%. Cass Information Systems's dividend payout ratio is 74.70%.

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.