Emerald Mutual Fund Advisers Trust Invests $943000 in Cass Information Systems, Inc (CASS) Stock

November 21st, 20177:25 am @

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Emerald Mutual Fund Advisers Trust bought a new position in shares of Cass Information Systems, Inc (NASDAQ:CASS) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 14,870 shares of the business services provider’s stock, valued at approximately $943,000. Emerald Mutual Fund Advisers Trust owned approximately 0.13% of Cass Information Systems as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Legal General Group Plc boosted its position in Cass Information Systems by 4.0% during the second quarter. Legal General Group Plc now owns 2,885 shares of the business services provider’s stock worth $189,000 after acquiring an additional 110 shares during the last quarter. Victory Capital Management Inc. boosted its position in Cass Information Systems by 17.7% during the second quarter. Victory Capital Management Inc. now owns 3,087 shares of the business services provider’s stock worth $203,000 after acquiring an additional 464 shares during the last quarter. Parametric Portfolio Associates LLC boosted its position in Cass Information Systems by 10.9% during the second quarter. Parametric Portfolio Associates LLC now owns 6,606 shares of the business services provider’s stock worth $434,000 after acquiring an additional 648 shares during the last quarter. Voya Investment Management LLC boosted its position in Cass Information Systems by 6.8% during the second quarter. Voya Investment Management LLC now owns 7,158 shares of the business services provider’s stock worth $470,000 after acquiring an additional 458 shares during the last quarter. Finally, WBI Investments Inc. acquired a new position in Cass Information Systems during the second quarter worth about $552,000. 49.27% of the stock is owned by institutional investors and hedge funds.

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Cass Information Systems, Inc (CASS) traded up $0.95 on Monday, reaching $65.86. 16,619 shares of the company were exchanged, compared to its average volume of 27,576. The firm has a market capitalization of $724.81, a price-to-earnings ratio of 27.98 and a beta of 1.18. Cass Information Systems, Inc has a 52-week low of $58.55 and a 52-week high of $74.83.

Cass Information Systems (NASDAQ:CASS) last posted its earnings results on Thursday, October 26th. The business services provider reported $0.61 earnings per share for the quarter. The company had revenue of $34.30 million for the quarter. Cass Information Systems had a net margin of 19.71% and a return on equity of 12.05%.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, December 5th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.46%. This is a positive change from Cass Information Systems’s previous quarterly dividend of $0.21. The ex-dividend date is Monday, December 4th. Cass Information Systems’s payout ratio is presently 39.66%.

Cass Information Systems declared that its board has authorized a stock repurchase plan on Thursday, October 26th that permits the company to repurchase 500,000 outstanding shares. This repurchase authorization permits the business services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Separately, BidaskClub lowered shares of Cass Information Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th.

Cass Information Systems Company Profile

Cass Information Systems, Inc (Cass) is a provider of payment and information processing services to manufacturing, distribution and retail enterprises across the United States with operating locations in Missouri, Ohio, Massachusetts, South Carolina and Florida. The Company provides transportation invoice rating, payment processing, auditing, accounting and transportation information.

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