6,751 Shares in Cass Information Systems, Inc. (NASDAQ:CASS) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in Cass Information Systems, Inc. (NASDAQ:CASS - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 6,751 shares of the business services provider's stock, valued at approximately $276,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. SG Americas Securities LLC lifted its position in Cass Information Systems by 30.5% in the fourth quarter. SG Americas Securities LLC now owns 6,295 shares of the business services provider's stock worth $258,000 after purchasing an additional 1,470 shares during the period. BNP Paribas Financial Markets boosted its stake 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 valued at $265,000 after buying an additional 1,394 shares in the last quarter. Towneley Capital Management Inc DE bought a new stake in Cass Information Systems in the fourth quarter worth about $611,000. Barclays PLC lifted its holdings in Cass Information Systems by 364.9% in the 3rd quarter. Barclays PLC now owns 21,938 shares of the business services provider's stock valued at $910,000 after acquiring an additional 17,219 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Cass Information Systems by 140.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 23,241 shares of the business services provider's stock worth $964,000 after purchasing an additional 13,593 shares during the last quarter. Institutional investors and hedge funds own 59.08% of the company's stock.

Cass Information Systems Trading Down 0.5 %

Shares of NASDAQ CASS traded down $0.20 during mid-day trading on Wednesday, reaching $39.74. The company had a trading volume of 588 shares, compared to its average volume of 43,734. The company has a 50-day moving average price of $42.75 and a two-hundred day moving average price of $42.48. The stock has a market cap of $535.15 million, a PE ratio of 28.92 and a beta of 0.49. Cass Information Systems, Inc. has a 1-year low of $37.99 and a 1-year high of $47.14.

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

Cass Information Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date was Tuesday, March 4th. Cass Information Systems's payout ratio is 89.86%.

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.