Cass Information Systems (NASDAQ:CASS) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $72.43 and last traded at $71.69, with a volume of 1204 shares traded. The stock had previously closed at $70.89.
Separately, BidaskClub upgraded Cass Information Systems from a “buy” rating to a “strong-buy” rating in a research note on Wednesday.
The company has a market capitalization of $880.64 million, a PE ratio of 31.00 and a beta of 1.18.
Cass Information Systems (NASDAQ:CASS) last released its quarterly earnings results on Thursday, April 26th. The business services provider reported $0.65 earnings per share (EPS) for the quarter. The firm had revenue of $35.98 million for the quarter. Cass Information Systems had a return on equity of 12.81% and a net margin of 19.28%.
The company also recently declared a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Tuesday, June 5th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend was Monday, June 4th. This is an increase from Cass Information Systems’s previous quarterly dividend of $0.24.
In related news, insider Robert J. Mathias sold 1,354 shares of the firm’s stock in a transaction that occurred on Friday, June 8th. The stock was sold at an average price of $66.00, for a total transaction of $89,364.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 4.91% of the company’s stock.
A number of institutional investors have recently bought and sold shares of CASS. SG Americas Securities LLC acquired a new stake in Cass Information Systems during the 4th quarter worth approximately $109,000. Port Capital LLC acquired a new stake in Cass Information Systems during the 1st quarter worth approximately $206,000. Oppenheimer Asset Management Inc. acquired a new stake in Cass Information Systems during the 1st quarter worth approximately $206,000. Element Capital Management LLC acquired a new stake in Cass Information Systems during the 1st quarter worth approximately $213,000. Finally, Bank of Montreal Can lifted its position in Cass Information Systems by 135.4% during the 4th quarter. Bank of Montreal Can now owns 3,733 shares of the business services provider’s stock worth $217,000 after acquiring an additional 2,147 shares during the period. 50.59% of the stock is owned by institutional investors.
About Cass Information Systems
Cass Information Systems, Inc provides payment and information processing services to manufacturing, distribution, and retail enterprises in the United States. It operates through two segments, Information Services and Banking Services. The company's services include freight invoice rating, payment processing, auditing, and the generation of accounting and transportation information.
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