Tributary Capital Management LLC Increases Holdings in Cass Information Systems, Inc. (NASDAQ:CASS)

Tributary Capital Management LLC raised its stake in Cass Information Systems, Inc. (NASDAQ:CASS – Get Rating) by 5.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 235,787 shares of the business services provider’s stock after buying an additional 11,334 shares during the quarter. Tributary Capital Management LLC owned approximately 1.73% of Cass Information Systems worth $8,703,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of CASS. New Century Advisors LLC acquired a new position in shares of Cass Information Systems during the 4th quarter valued at about $29,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Cass Information Systems by 239.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,560 shares of the business services provider’s stock valued at $179,000 after buying an additional 3,215 shares during the period. Cornerstone Investment Partners LLC acquired a new stake in shares of Cass Information Systems during the 4th quarter worth approximately $260,000. BNP Paribas Arbitrage SA increased its holdings in shares of Cass Information Systems by 54.6% during the 4th quarter. BNP Paribas Arbitrage SA now owns 6,836 shares of the business services provider’s stock worth $269,000 after buying an additional 2,413 shares during the last quarter. Finally, Strs Ohio lifted its holdings in Cass Information Systems by 276.9% in the fourth quarter. Strs Ohio now owns 19,600 shares of the business services provider’s stock valued at $770,000 after acquiring an additional 14,400 shares during the last quarter. 59.92% of the stock is owned by institutional investors and hedge funds.

NASDAQ CASS traded up $0.45 during trading hours on Monday, reaching $34.25. The company had a trading volume of 2,268 shares, compared to its average volume of 58,404. The stock has a market capitalization of $467.62 million, a P/E ratio of 16.23 and a beta of 0.58. The stock has a 50-day moving average of $34.76 and a 200 day moving average of $38.04. Cass Information Systems, Inc. has a 1-year low of $31.84 and a 1-year high of $46.26.

Cass Information Systems (NASDAQ:CASS – Get Rating) last issued its quarterly earnings data on Thursday, April 14th. The business services provider reported $0.60 EPS for the quarter. Cass Information Systems had a net margin of 18.72% and a return on equity of 11.85%. The firm had revenue of $42.10 million for the quarter.

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Friday, June 3rd were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, June 2nd. This represents a $1.12 annualized dividend and a dividend yield of 3.27%. Cass Information Systems’s dividend payout ratio is currently 53.08%.

Separately, StockNews.com initiated coverage on Cass Information Systems in a research report on Thursday, March 31st. They issued a “buy” rating on the stock.

About Cass Information Systems (Get Rating)

Cass Information Systems, Inc provides payment and information processing services to manufacturing, distribution, and retail enterprises in the United States. It operates through two segments, Information Services and Banking Services. The company's services include freight invoice rating, payment processing, auditing, and the generation of accounting and transportation information.

Further Reading