Trust Point Inc. Sells 6,309 Shares of Cass Information Systems, Inc. (NASDAQ:CASS)

Trust Point Inc. trimmed its position in shares of Cass Information Systems, Inc. (NASDAQ:CASS - Free Report) by 47.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,924 shares of the business services provider's stock after selling 6,309 shares during the quarter. Trust Point Inc. owned 0.05% of Cass Information Systems worth $283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CASS. Copeland Capital Management LLC purchased a new position in Cass Information Systems in the third quarter worth $37,000. SG Americas Securities LLC bought a new stake in shares of Cass Information Systems during the 3rd quarter worth $200,000. Creative Planning purchased a new position in shares of Cass Information Systems in the 3rd quarter worth about $205,000. Renaissance Technologies LLC bought a new position in Cass Information Systems during the second quarter valued at about $251,000. Finally, BNP Paribas Financial Markets increased its holdings in Cass Information Systems by 27.9% during the third quarter. BNP Paribas Financial Markets now owns 6,387 shares of the business services provider's stock worth $265,000 after buying an additional 1,394 shares during the last quarter. Institutional investors own 59.08% of the company's stock.

Wall Street Analyst Weigh In

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

Cass Information Systems Stock Performance

NASDAQ:CASS traded up $0.29 during trading hours on Monday, reaching $43.34. The stock had a trading volume of 59,182 shares, compared to its average volume of 49,019. The stock has a market cap of $588.12 million, a P/E ratio of 31.41 and a beta of 0.72. The stock has a 50 day simple moving average of $41.87 and a 200 day simple moving average of $42.04. Cass Information Systems, Inc. has a 12-month low of $37.99 and a 12-month high of $50.25.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last announced 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, equities analysts expect that Cass Information Systems, Inc. will post 2.62 earnings per share for the current fiscal year.

Cass Information Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.86%. The ex-dividend date is Tuesday, March 4th. Cass Information Systems's dividend payout ratio (DPR) is presently 89.86%.

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.