Cass Information Systems, Inc. (NASDAQ:CASS) Short Interest Update

Cass Information Systems, Inc. (NASDAQ:CASS) saw a significant drop in short interest in the month of January. As of January 15th, there was short interest totalling 181,600 shares, a drop of 8.5% from the December 31st total of 198,400 shares. Based on an average daily trading volume, of 42,000 shares, the days-to-cover ratio is presently 4.3 days. Approximately 1.5% of the company’s shares are sold short.

Wall Street Analyst Weigh In

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

Cass Information Systems Price Performance

Shares of CASS stock traded down $0.11 on Monday, hitting $41.08. The stock had a trading volume of 55,724 shares, compared to its average volume of 50,158. The company’s 50 day moving average price is $42.09 and its 200-day moving average price is $41.95. Cass Information Systems has a 1 year low of $37.99 and a 1 year high of $50.25. The firm has a market capitalization of $557.46 million, a P/E ratio of 29.77 and a beta of 0.72.

Cass Information Systems (NASDAQ:CASS) last posted its quarterly earnings data 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 return on equity of 8.25% and a net margin of 9.62%. On average, equities analysts forecast that Cass Information Systems will post 2.53 EPS for the current year.

Cass Information Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date is Tuesday, March 4th. Cass Information Systems’s dividend payout ratio is presently 89.86%.

Hedge Funds Weigh In On Cass Information Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC lifted its position in shares of Cass Information Systems by 364.9% during the 3rd quarter. Barclays PLC now owns 21,938 shares of the business services provider’s stock worth $910,000 after buying an additional 17,219 shares during the last quarter. Foundry Partners LLC lifted its position in Cass Information Systems by 12.1% in the third quarter. Foundry Partners LLC now owns 122,405 shares of the business services provider’s stock valued at $5,077,000 after acquiring an additional 13,180 shares during the last quarter. Geode Capital Management LLC boosted its stake in Cass Information Systems by 4.0% in the third quarter. Geode Capital Management LLC now owns 354,155 shares of the business services provider’s stock valued at $14,693,000 after acquiring an additional 13,607 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Cass Information Systems by 140.9% during the third 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. Finally, Tributary Capital Management LLC increased its position in shares of Cass Information Systems by 5.3% during the third quarter. Tributary Capital Management LLC now owns 318,496 shares of the business services provider’s stock worth $13,211,000 after purchasing an additional 15,919 shares in the last quarter. 59.08% of the stock is owned by institutional investors and hedge funds.

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.