Foundry Partners LLC Buys 13,180 Shares of Cass Information Systems, Inc. (NASDAQ:CASS)

Foundry Partners LLC raised its stake in shares of Cass Information Systems, Inc. (NASDAQ:CASS - Free Report) by 12.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 122,405 shares of the business services provider's stock after purchasing an additional 13,180 shares during the period. Foundry Partners LLC owned 0.90% of Cass Information Systems worth $5,077,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CASS. Janney Montgomery Scott LLC grew its holdings in Cass Information Systems by 47.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 6,546 shares of the business services provider's stock valued at $315,000 after buying an additional 2,097 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in 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 last quarter. Price T Rowe Associates Inc. MD raised its stake in Cass Information Systems by 30.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 29,291 shares of the business services provider's stock valued at $1,412,000 after purchasing an additional 6,844 shares in the last quarter. Ellsworth Advisors LLC raised its stake in Cass Information Systems by 9.4% during the second quarter. Ellsworth Advisors LLC now owns 10,809 shares of the business services provider's stock valued at $433,000 after purchasing an additional 930 shares in the last quarter. Finally, Tributary Capital Management LLC lifted its position in Cass Information Systems by 0.3% during the second quarter. Tributary Capital Management LLC now owns 302,577 shares of the business services provider's stock valued at $12,124,000 after purchasing an additional 912 shares during the last quarter. Institutional investors own 59.08% of the company's stock.

Cass Information Systems Stock Up 1.5 %

CASS traded up $0.66 during trading hours on Friday, reaching $44.96. 29,364 shares of the company's stock traded hands, compared to its average volume of 41,423. The firm has a 50-day moving average price of $42.39 and a 200 day moving average price of $42.05. Cass Information Systems, Inc. has a 52-week low of $37.99 and a 52-week high of $50.25. The firm has a market capitalization of $610.06 million, a PE ratio of 26.77 and a beta of 0.70.

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

Cass Information Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, December 3rd will be issued a $0.31 dividend. This is an increase from Cass Information Systems's previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Tuesday, December 3rd. Cass Information Systems's payout ratio is presently 74.70%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler upped their price objective 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.

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.