ProShare Advisors LLC reduced its position in Cass Information Systems, Inc. (NASDAQ: CASS – Get Rating) by 2.1% during the first quarter, according to its most recent Form 13F filed with the Securities and Exchange Commission (SEC). The fund held 76,893 shares of the business services provider after selling 1,652 shares during the period. ProShare Advisors LLC owned 0.56% of Cass Information Systems worth $2,838,000 when it last filed with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently changed their positions in the company. FinTrust Capital Advisors LLC increased its stake in Cass Information Systems by 61.1% during the first quarter. FinTrust Capital Advisors LLC now owns 2,875 shares of the business services provider worth $106,000 after buying an additional 1,090 shares in the last quarter. Zurcher Kantonalbank Zurcher Kantonalbank increased its stake in Cass Information Systems by 239.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,560 shares of the business services provider worth $179,000 after buying 3,215 additional shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in Cass Information Systems by 54.6% during the fourth quarter. BNP Paribas Arbitrage SA now owns 6,836 shares of the business services provider worth $269,000 after buying 2,413 additional shares in the last quarter. IndexIQ Advisors LLC increased its stake in Cass Information Systems by 19.4% during the first quarter. IndexIQ Advisors LLC now owns 10,894 shares of the business services provider worth $402,000 after buying 1,767 additional shares in the last quarter. Finally, Exchange Traded Concepts LLC acquired a new position in Cass Information Systems during the first quarter worth $514,000. 59.92% of the shares are held by institutional investors and hedge funds.
Performance of Cass Information Systems shares
The NASDAQ CASS opened at $36.91 on Thursday. The stock’s fifty-day moving average is $35.42 and its two-hundred-day moving average is $36.96. The company has a market capitalization of $504.19 million, a P/E ratio of 16.40 and a beta of 0.60. Cass Information Systems, Inc. has a fifty-two week low of $31.84 and a fifty-two week high of $46.26.
Cass Information Systems (NASDAQ:CASS – Get Rating) last released its quarterly earnings data on Thursday, July 14. The business services provider reported earnings per share of $0.62 for the quarter. The company posted revenue of $44.22 million for the quarter. Cass Information Systems has a return on equity of 13.68% and a net margin of 18.99%.
Cass Information Systems Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15. Shareholders of record on Friday, September 2 will receive a dividend of $0.28. The ex-dividend date is Thursday, September 1. This represents a dividend of $1.12 on an annualized basis and a yield of 3.03%. Cass Information Systems’ dividend payout ratio is currently 49.78%.
About Cass Information Systems
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Cass Information Systems, Inc. provides payment and information processing services to manufacturing, distribution and retail businesses in the United States. It operates through two segments, Information Services and Banking Services. The Company’s services include freight bill valuation, payment processing, auditing, and generation of accounting and transportation information.
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