Ballast Asset Management LP Sells 5,205 Shares of Cass Information Systems, Inc. (NASDAQ:CASS)

Ballast Asset Management LP lowered its stake in Cass Information Systems, Inc. (NASDAQ:CASS) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 107,610 shares of the business services provider’s stock after selling 5,205 shares during the quarter. Cass Information Systems makes up approximately 2.2% of Ballast Asset Management LP’s investment portfolio, making the stock its 15th largest position. Ballast Asset Management LP owned 0.79% of Cass Information Systems worth $4,402,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CASS. KLP Kapitalforvaltning AS bought a new position in Cass Information Systems in the 4th quarter valued at approximately $114,000. Intech Investment Management LLC acquired a new position in shares of Cass Information Systems during the fourth quarter worth $207,000. SG Americas Securities LLC lifted its stake in shares of 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 acquiring an additional 1,470 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Cass Information Systems by 27.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,387 shares of the business services provider’s stock valued at $265,000 after acquiring an additional 1,394 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Cass Information Systems during the 4th quarter worth $276,000. 59.08% of the stock is owned by institutional investors.

Cass Information Systems Trading Up 1.8 %

Cass Information Systems stock opened at $43.25 on Tuesday. The stock has a 50-day moving average price of $43.02 and a two-hundred day moving average price of $42.60. Cass Information Systems, Inc. has a 12 month low of $37.99 and a 12 month high of $49.16. The company has a market capitalization of $582.36 million, a PE ratio of 31.34 and a beta of 0.67.

Cass Information Systems (NASDAQ:CASS) last issued 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 net margin of 9.62% and a return on equity of 8.25%. As a group, analysts predict that Cass Information Systems, Inc. will post 2.62 earnings per share for the current fiscal year.

Cass Information Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were issued a $0.31 dividend. 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%.

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.