Cass Information Systems, Inc. (CASS) to Issue Quarterly Dividend of $0.31 on March 14th

Cass Information Systems, Inc. (NASDAQ:CASS) declared a quarterly dividend on Monday, January 27th,Wall Street Journal reports. Shareholders of record on Tuesday, March 4th will be paid a dividend of 0.31 per share by the business services provider on Friday, March 14th. This represents a $1.24 annualized dividend and a yield of 2.99%. The ex-dividend date is Tuesday, March 4th.

Cass Information Systems has increased its dividend payment by an average of 3.5% per year over the last three years and has raised its dividend every year for the last 20 years. Cass Information Systems has a dividend payout ratio of 40.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Cass Information Systems to earn $2.53 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 49.0%.

Cass Information Systems Price Performance

CASS stock opened at $41.42 on Wednesday. The firm has a market capitalization of $562.07 million, a PE ratio of 24.95 and a beta of 0.73. The company’s 50 day simple moving average is $42.32 and its 200-day simple moving average is $42.04. Cass Information Systems has a 12 month low of $37.99 and a 12 month high of $50.25.

Cass Information Systems (NASDAQ:CASS) last released its quarterly earnings results 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 net margin of 11.52% and a return on equity of 9.92%. As a group, sell-side analysts anticipate that Cass Information Systems will post 1.5 earnings per share for the current year.

Analyst Ratings Changes

Separately, Piper Sandler boosted their price target on shares of Cass Information Systems from $44.00 to $45.00 and gave the stock 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.