Cass Information Systems said on April 18, 2023 that its board of directors declared a regular quarterly dividend of $0.29 per share ($1.16 annualized). Previously, the company paid $0.29 per share.
Shares must be purchased before the ex-div date of June 2, 2023 to qualify for the dividend. Shareholders of record as of June 5, 2023 will receive the payment on June 15, 2023.
At the current share price of $36.07 / share, the stock's dividend yield is 3.22%. Looking back five years and taking a sample every week, the average dividend yield has been 2.37%, the lowest has been 1.18%, and the highest has been 3.56%. The standard deviation of yields is 0.56 (n=236).
The current dividend yield is 1.50 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.47. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.07%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 327 funds or institutions reporting positions in Cass Information Systems. This is an increase of 14 owner(s) or 4.47% in the last quarter. Average portfolio weight of all funds dedicated to CASS is 0.11%, an increase of 15.19%. Total shares owned by institutions increased in the last three months by 0.63% to 9,622K shares. 
The put/call ratio of CASS is 0.11, indicating a bullish outlook.
Analyst Price Forecast Suggests 21.60% Upside
As of April 24, 2023, the average one-year price target for Cass Information Systems is 43.86. The forecasts range from a low of 43.43 to a high of $45.15. The average price target represents an increase of 21.60% from its latest reported closing price of 36.07.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Cass Information Systems is 213MM, an increase of 10.04%. The projected annual non-GAAP EPS is 3.09.
What are Other Shareholders Doing?
Buckingham Strategic Wealth holds 834K shares representing 6.08% ownership of the company. In it's prior filing, the firm reported owning 833K shares, representing an increase of 0.10%. The firm increased its portfolio allocation in CASS by 17.69% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 408K shares representing 2.98% ownership of the company. In it's prior filing, the firm reported owning 394K shares, representing an increase of 3.49%. The firm increased its portfolio allocation in CASS by 26.39% over the last quarter.
Heartland Advisors holds 334K shares representing 2.44% ownership of the company. In it's prior filing, the firm reported owning 298K shares, representing an increase of 10.68%. The firm decreased its portfolio allocation in CASS by 99.87% over the last quarter.
IWM - iShares Russell 2000 ETF holds 325K shares representing 2.37% ownership of the company. In it's prior filing, the firm reported owning 311K shares, representing an increase of 4.26%. The firm increased its portfolio allocation in CASS by 24.94% over the last quarter.
Fenimore Asset Management holds 321K shares representing 2.34% ownership of the company. In it's prior filing, the firm reported owning 321K shares, representing an increase of 0.12%. The firm increased its portfolio allocation in CASS by 91,763.26% over the last quarter.
Cass Information Systems Background Information
(This description is provided by the company.)
Cass Information Systems, Inc. is a leading provider of integrated information and payment management solutions. Cass enables enterprises to achieve visibility, control and efficiency in their supply chains, communications networks, facilities and other operations.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
