Los Angeles Capital Management LLC Acquires 13,109 Shares of Cass Information Systems, Inc. (NASDAQ:CASS)

Los Angeles Capital Management LLC grew its position in Cass Information Systems, Inc. (NASDAQ:CASS) by 58.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,419 shares of the business services provider’s stock after purchasing an additional 13,109 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.26% of Cass Information Systems worth $1,596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. raised its holdings in Cass Information Systems by 7.9% during the third quarter. PNC Financial Services Group Inc. now owns 6,725 shares of the business services provider’s stock valued at $251,000 after acquiring an additional 490 shares during the period. Bank of New York Mellon Corp lifted its holdings in Cass Information Systems by 1.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 120,551 shares of the business services provider’s stock worth $4,491,000 after purchasing an additional 1,202 shares in the last quarter. First National Bank of Omaha increased its stake in Cass Information Systems by 12.8% during the third quarter. First National Bank of Omaha now owns 12,485 shares of the business services provider’s stock worth $465,000 after acquiring an additional 1,414 shares during the last quarter. Commonwealth Equity Services LLC raised its position in Cass Information Systems by 6.1% during the third quarter. Commonwealth Equity Services LLC now owns 31,575 shares of the business services provider’s stock valued at $1,176,000 after purchasing an additional 1,811 shares during the period. Finally, Global Retirement Partners LLC purchased a new position in shares of Cass Information Systems in the 4th quarter worth approximately $114,000. 59.08% of the stock is currently owned by institutional investors.

Cass Information Systems Price Performance

Shares of CASS stock opened at $44.45 on Wednesday. Cass Information Systems, Inc. has a one year low of $35.50 and a one year high of $50.25. The company has a market capitalization of $605.85 million, a P/E ratio of 20.30 and a beta of 0.75. The company’s 50-day simple moving average is $45.91 and its two-hundred day simple moving average is $43.93.

Cass Information Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Tuesday, June 4th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Tuesday, June 4th. Cass Information Systems’s payout ratio is 54.79%.

Analysts Set New Price Targets

CASS has been the subject of a number of analyst reports. Piper Sandler upgraded Cass Information Systems from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $45.00 to $51.00 in a research report on Monday, February 12th. StockNews.com downgraded shares of Cass Information Systems from a “buy” rating to a “hold” rating in a report on Saturday, April 27th. Finally, TheStreet lowered Cass Information Systems from a “b-” rating to a “c” rating in a research report on Thursday, January 25th.

Cass Information Systems 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.