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

Tributary Capital Management LLC lessened its stake in shares of Cass Information Systems, Inc. (NASDAQ:CASS) by 0.7% during the first quarter, HoldingsChannel reports. The firm owned 301,665 shares of the business services provider’s stock after selling 2,143 shares during the period. Tributary Capital Management LLC’s holdings in Cass Information Systems were worth $14,531,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Global Retirement Partners LLC purchased a new stake in shares of Cass Information Systems during the fourth quarter worth about $114,000. SG Americas Securities LLC purchased a new stake in shares of Cass Information Systems during the fourth quarter worth about $173,000. Dumont & Blake Investment Advisors LLC bought a new stake in Cass Information Systems in the first quarter valued at about $207,000. Compass Ion Advisors LLC acquired a new stake in Cass Information Systems during the first quarter valued at approximately $223,000. Finally, PNC Financial Services Group Inc. raised its stake 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 buying an additional 490 shares in the last quarter. Institutional investors and hedge funds own 59.08% of the company’s stock.

Cass Information Systems Stock Up 0.1 %

Shares of NASDAQ CASS opened at $40.60 on Tuesday. The stock’s 50 day moving average price is $42.73 and its two-hundred day moving average price is $44.48. Cass Information Systems, Inc. has a 52-week low of $35.50 and a 52-week high of $50.25. The stock has a market capitalization of $553.78 million, a P/E ratio of 18.53 and a beta of 0.70.

Cass Information Systems (NASDAQ:CASS) last announced its quarterly earnings results on Thursday, April 18th. The business services provider reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.07). The company had revenue of $49.68 million for the quarter, compared to analyst estimates of $50.68 million. Cass Information Systems had a return on equity of 13.67% and a net margin of 15.21%. On average, analysts anticipate that Cass Information Systems, Inc. will post 2.21 EPS for the current year.

Cass Information Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Tuesday, June 4th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date was Tuesday, June 4th. Cass Information Systems’s dividend payout ratio (DPR) is 54.79%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Cass Information Systems from a “buy” rating to a “hold” rating in a research note on Saturday, April 27th.

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.