Speece Thorson Capital Group Inc. Boosts Stake in Cass Information Systems, Inc. (NASDAQ:CASS)

Speece Thorson Capital Group Inc. grew its position in shares of Cass Information Systems, Inc. (NASDAQ:CASS - Free Report) by 37.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 305,495 shares of the business services provider's stock after purchasing an additional 83,414 shares during the period. Cass Information Systems comprises about 2.3% of Speece Thorson Capital Group Inc.'s holdings, making the stock its 24th largest holding. Speece Thorson Capital Group Inc. owned approximately 2.24% of Cass Information Systems worth $12,672,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CASS. Copeland Capital Management LLC bought a new stake in shares of Cass Information Systems in the 3rd quarter valued at about $37,000. SG Americas Securities LLC bought a new stake in shares of Cass Information Systems in the 3rd quarter valued at about $200,000. Creative Planning bought a new stake in shares of Cass Information Systems in the 3rd quarter valued at about $205,000. Renaissance Technologies LLC bought a new stake in shares of Cass Information Systems in the 2nd quarter valued at about $251,000. Finally, US Bancorp DE lifted its stake in shares of Cass Information Systems by 5.4% in the 3rd quarter. US Bancorp DE now owns 7,078 shares of the business services provider's stock valued at $294,000 after acquiring an additional 360 shares during the last quarter. Institutional investors own 59.08% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler boosted their target price on 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 Price Performance

NASDAQ:CASS traded down $0.88 during mid-day trading on Wednesday, reaching $44.86. 40,827 shares of the company's stock traded hands, compared to its average volume of 41,680. Cass Information Systems, Inc. has a 12-month low of $37.99 and a 12-month high of $50.25. The firm has a market capitalization of $608.75 million, a price-to-earnings ratio of 27.02 and a beta of 0.70. The company has a 50 day moving average price of $41.87 and a 200-day moving average price of $41.99.

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

Cass Information Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd will be given a $0.31 dividend. This is a boost from Cass Information Systems's previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Tuesday, December 3rd. Cass Information Systems's payout ratio is currently 72.29%.

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.