Heartland Advisors Inc. Acquires 43,214 Shares of Cass Information Systems, Inc. (NASDAQ:CASS)

Heartland Advisors Inc. grew its stake in Cass Information Systems, Inc. (NASDAQ:CASS) by 11.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 416,947 shares of the business services provider’s stock after purchasing an additional 43,214 shares during the quarter. Cass Information Systems comprises approximately 0.9% of Heartland Advisors Inc.’s holdings, making the stock its 26th largest holding. Heartland Advisors Inc. owned 3.07% of Cass Information Systems worth $17,057,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. KLP Kapitalforvaltning AS bought a new position in Cass Information Systems during the fourth quarter worth about $114,000. Intech Investment Management LLC bought a new stake in Cass Information Systems in the fourth quarter valued at approximately $207,000. SG Americas Securities LLC raised its holdings in Cass Information Systems by 30.5% in the fourth quarter. SG Americas Securities LLC now owns 6,295 shares of the business services provider’s stock worth $258,000 after purchasing an additional 1,470 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Cass Information Systems by 27.9% during the third quarter. BNP Paribas Financial Markets now owns 6,387 shares of the business services provider’s stock worth $265,000 after purchasing an additional 1,394 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Cass Information Systems in the 4th quarter valued at $276,000. 59.08% of the stock is currently owned by institutional investors.

Cass Information Systems Price Performance

NASDAQ CASS opened at $43.57 on Friday. The stock’s 50-day moving average is $42.91 and its 200-day moving average is $42.54. Cass Information Systems, Inc. has a one year low of $37.99 and a one year high of $49.16. The firm has a market cap of $586.67 million, a P/E ratio of 31.57 and a beta of 0.67.

Cass Information Systems (NASDAQ:CASS) last released its quarterly earnings results on Thursday, January 23rd. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.10). Cass Information Systems had a net margin of 9.62% and a return on equity of 8.25%. Equities analysts anticipate that Cass Information Systems, Inc. will post 2.62 EPS for the current year.

Cass Information Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders 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 dividend yield of 2.85%. Cass Information Systems’s dividend payout ratio (DPR) is 89.86%.

Cass Information Systems 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.