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

Cass Information Systems, Inc. (NASDAQ:CASS) announced a quarterly dividend on Monday, January 27th,Wall Street Journal reports. Stockholders 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 dividend yield of 2.97%. The ex-dividend date 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 increased its dividend every year for the last 20 years. Cass Information Systems has a payout ratio of 40.8% meaning its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

NASDAQ CASS opened at $41.70 on Tuesday. The company has a market cap of $565.87 million, a P/E ratio of 25.12 and a beta of 0.73. The stock has a 50-day moving average of $42.38 and a two-hundred day moving average of $42.05. Cass Information Systems has a 1-year low of $37.99 and a 1-year high of $50.25.

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

Analyst Upgrades and Downgrades

Separately, Piper Sandler boosted their target price on Cass Information Systems from $44.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, October 18th.

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.