Cass Information Systems (NASDAQ:CASS) Stock Crosses Below 200 Day Moving Average – Here’s Why

Shares of Cass Information Systems, Inc. (NASDAQ:CASS) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $42.47 and traded as low as $42.09. Cass Information Systems shares last traded at $42.68, with a volume of 39,378 shares trading hands.

Cass Information Systems Stock Up 1.1 %

The company’s 50 day moving average is $42.37 and its 200 day moving average is $42.47. The firm has a market capitalization of $581.15 million, a price-to-earnings ratio of 31.28 and a beta of 0.67.

Cass Information Systems (NASDAQ:CASS) last announced its quarterly earnings data on Thursday, January 23rd. The business services provider reported $0.33 earnings per share (EPS) 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, 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. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.24 dividend on an annualized basis and a yield of 2.87%. Cass Information Systems’s payout ratio is 89.86%.

Institutional Investors Weigh In On Cass Information Systems

A number of large investors have recently bought and sold shares of CASS. Barclays PLC lifted its holdings 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 worth $910,000 after acquiring an additional 17,219 shares during the last quarter. Foundry Partners LLC lifted its holdings in shares of 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 worth $5,077,000 after acquiring an additional 13,180 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Cass Information Systems by 140.9% in the third quarter. JPMorgan Chase & Co. now owns 23,241 shares of the business services provider’s stock worth $964,000 after acquiring an additional 13,593 shares during the last quarter. Geode Capital Management LLC raised its holdings in Cass Information Systems by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 354,155 shares of the business services provider’s stock valued at $14,693,000 after buying an additional 13,607 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in Cass Information Systems by 30.5% in the 4th quarter. SG Americas Securities LLC now owns 6,295 shares of the business services provider’s stock valued at $258,000 after buying an additional 1,470 shares during the last quarter. 59.08% of the stock is currently owned by institutional investors and hedge funds.

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.