Cass Information Systems, Inc. (NASDAQ:CASS) Shares Purchased by Tributary Capital Management LLC

Tributary Capital Management LLC increased its position in shares of Cass Information Systems, Inc. (NASDAQ:CASS) by 5.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 318,496 shares of the business services provider’s stock after acquiring an additional 15,919 shares during the quarter. Tributary Capital Management LLC’s holdings in Cass Information Systems were worth $13,211,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Heartland Advisors Inc. increased its holdings in Cass Information Systems by 5.7% in the 1st quarter. Heartland Advisors Inc. now owns 373,843 shares of the business services provider’s stock valued at $18,008,000 after purchasing an additional 20,181 shares during the last quarter. Speece Thorson Capital Group Inc. lifted its stake in Cass Information Systems by 39.8% during the 2nd quarter. Speece Thorson Capital Group Inc. now owns 222,081 shares of the business services provider’s stock worth $8,899,000 after acquiring an additional 63,280 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Cass Information Systems by 7.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 90,157 shares of the business services provider’s stock valued at $3,613,000 after acquiring an additional 6,071 shares during the period. Allspring Global Investments Holdings LLC grew its position in Cass Information Systems by 39.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 73,820 shares of the business services provider’s stock valued at $3,556,000 after acquiring an additional 21,032 shares in the last quarter. Finally, IFG Advisory LLC increased its stake in Cass Information Systems by 7.7% during the second quarter. IFG Advisory LLC now owns 45,116 shares of the business services provider’s stock worth $1,808,000 after purchasing an additional 3,208 shares during the period. 59.08% of the stock is owned by hedge funds and other institutional investors.

Cass Information Systems Trading Up 0.6 %

NASDAQ:CASS opened at $42.17 on Monday. Cass Information Systems, Inc. has a 12-month low of $37.00 and a 12-month high of $50.25. The firm has a market cap of $575.37 million, a PE ratio of 19.26 and a beta of 0.70. The stock has a fifty day moving average price of $41.56 and a 200 day moving average price of $42.04.

Cass Information Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.94%. This is a positive change from Cass Information Systems’s previous quarterly dividend of $0.30. The ex-dividend date is Tuesday, December 3rd. Cass Information Systems’s dividend payout ratio (DPR) is presently 56.62%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler increased 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.

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.