Towneley Capital Management Inc DE Acquires Shares of 14,944 Cass Information Systems, Inc. (NASDAQ:CASS)

Towneley Capital Management Inc DE acquired a new stake in Cass Information Systems, Inc. (NASDAQ:CASS - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,944 shares of the business services provider's stock, valued at approximately $611,000. Cass Information Systems comprises approximately 0.1% of Towneley Capital Management Inc DE's portfolio, making the stock its 29th largest position. Towneley Capital Management Inc DE owned 0.11% of Cass Information Systems as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Speece Thorson Capital Group Inc. grew its stake in Cass Information Systems by 37.6% in the 3rd quarter. Speece Thorson Capital Group Inc. now owns 305,495 shares of the business services provider's stock worth $12,672,000 after acquiring an additional 83,414 shares during the period. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Cass Information Systems in the third quarter worth about $3,029,000. Barclays PLC grew its stake in shares of Cass Information Systems by 364.9% in the third quarter. Barclays PLC now owns 21,938 shares of the business services provider's stock valued at $910,000 after buying an additional 17,219 shares in the last quarter. Tributary Capital Management LLC raised its holdings in shares of Cass Information Systems by 5.3% during 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 buying an additional 15,919 shares during the period. Finally, Geode Capital Management LLC lifted its position in Cass Information Systems by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 354,155 shares of the business services provider's stock worth $14,693,000 after acquiring an additional 13,607 shares in the last quarter. 59.08% of the stock is currently owned by hedge funds and other institutional investors.

Cass Information Systems Trading Down 1.7 %

CASS stock traded down $0.76 during trading on Friday, reaching $44.19. The stock had a trading volume of 18,687 shares, compared to its average volume of 48,641. The firm has a fifty day moving average price of $41.85 and a 200 day moving average price of $42.11. The company has a market capitalization of $599.55 million, a P/E ratio of 32.03 and a beta of 0.72. Cass Information Systems, Inc. has a 1-year low of $37.99 and a 1-year high of $49.16.

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 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%. Sell-side analysts predict that Cass Information Systems, Inc. will post 2.62 EPS for the current year.

Cass Information Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date is Tuesday, March 4th. Cass Information Systems's payout ratio is currently 89.86%.

Analysts Set New Price Targets

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

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.