Cass Information Systems, Inc. Announces Quarterly Dividend of $0.31 (NASDAQ:CASS)

Cass Information Systems, Inc. (NASDAQ:CASS) declared a quarterly dividend on Monday, January 27th,Wall Street Journal reports. Shareholders of record on Tuesday, March 4th will be paid a dividend of 0.31 per share by the business services provider on Friday, March 14th. This represents a $1.24 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend is Tuesday, March 4th.

Cass Information Systems has increased its dividend payment by an average of 3.5% per year over the last three years and has raised its dividend every year for the last 20 years. Cass Information Systems has a payout ratio of 40.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Cass Information Systems to earn $2.53 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 49.0%.

Cass Information Systems Trading Up 1.6 %

CASS stock traded up $0.65 during midday trading on Monday, hitting $41.75. The company’s stock had a trading volume of 33,320 shares, compared to its average volume of 50,394. The firm’s 50-day moving average is $42.38 and its 200-day moving average is $42.05. Cass Information Systems has a 12 month low of $37.99 and a 12 month high of $50.25. The company has a market cap of $566.57 million, a PE ratio of 25.15 and a beta of 0.73.

Cass Information Systems (NASDAQ:CASS) last announced its earnings results on Thursday, January 23rd. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.10). Cass Information Systems had a return on equity of 9.92% and a net margin of 11.52%. Analysts expect that Cass Information Systems will post 1.5 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Piper Sandler upped their price target on Cass Information Systems from $44.00 to $45.00 and gave the stock an “overweight” rating in a research note 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.