Cass Information Systems, Inc. provides payment and information processing services to manufacturing, distribution, and retail enterprises in the United States. It operates through two segments, Information Services and Banking Services. The company's services include freight invoice rating, payment processing, auditing, and the generation of accounting and transportation information. It also processes and pays facility-related invoices, such as electricity, gas, waste, and telecommunications expenses; and provides telecommunications expense management solutions. In addition, the company, through its banking subsidiary, Cass Commercial Bank, provides a range of banking products and services, such as checking, savings, and time deposit accounts; commercial, industrial, and real estate loans; and cash management services to privately-owned businesses and faith-related ministries. Further, it provides B2B payment platform for clients that require an agile fintech partner. It operates through its banking facility near downtown St. Louis, Missouri; operating branch in the Bridgeton, Missouri; and additional leased facilities in Fenton, Missouri and Colorado Springs, Colorado. The company was formerly known as Cass Commercial Corporation and changed its name to Cass Information Systems, Inc. in January 2001. Cass Information Systems, Inc. was founded in 1906 and is headquartered in St. Louis, Missouri.
IPO Year:
Exchange: NASDAQ
Website: cassinfo.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 2/12/2024 | $45.00 → $51.00 | Neutral → Overweight | Piper Sandler |
| 12/6/2022 | Neutral | Piper Sandler |
Piper Sandler upgraded Cass Information Systems from Neutral to Overweight and set a new price target of $51.00 from $45.00 previously
Piper Sandler initiated coverage of Cass Information Systems with a rating of Neutral
Partnership demonstrates continued commitment to deliver best practices and global visibility to multinational clients Cass Information Systems, Inc. (NASDAQ:CASS) ("Cass"), the leading global provider of freight audit and payment solutions, has announced a partnership with Lupeon, Brazil's leading freight audit provider, to deliver an in-region solution for Cass's global client base. U.S.-based Cass provides a global solution covering all other regions of South America. In Brazil, unique regulatory requirements for freight charges necessitate a highly distinct process. An invoice can include federal, regional, and city taxes, as well as tolls and insurance. Additionally, to combat frau
Third Quarter Results (All comparisons refer to the third quarter of 2023, except as noted) Net income of $2.9 million, or $0.21 per diluted common share (includes $6.6 million of bad debt expense on a funding receivable related to a facility client). Increase in net interest margin to 3.55%. Increase in facility expense transaction volumes of 26.3%. Increased quarterly dividend to $0.31 per share. Repurchased 64,471 shares of Company stock. Cass Information Systems, Inc. (NASDAQ:CASS), (the Company or Cass) reported third quarter 2024 earnings of $0.21 per diluted share, as compared to $0.54 in the third quarter of 2023 and $0.32 in the second quarter of 2024. Net income for th
The world's leading commercial solution is now approved for use by U.S. Government agencies Cass Information Systems, Inc. (NASDAQ:CASS) (Cass), a leading provider of global payment solutions, has received a Multiple Award Schedule contract with the General Services Administration (GSA). This pre-approved contract enables government and federal agencies to efficiently award business to Cass for freight audit and payment services for all transportation modes. Cass, a provider of payment solutions for diverse spend categories, processed $90B in payables in 2023, including $38B in transportation payables. Mark Campbell, president of the Cass Government Payables group, noted, "Agencies who a
Second Quarter Results (All comparisons refer to the second quarter of 2023, except as noted) Net income of $4.5 million, or $0.32 per diluted common share. Return on average equity and assets of 8.01% and 0.78%, respectively. Increase in facility expense transaction volumes of 25.1%. Processing fee growth of 8.9%. Maintained exceptional credit quality, with no non-performing loans or charge-offs. Cass Information Systems, Inc. (NASDAQ:CASS), (the Company or Cass) reported second quarter 2024 earnings of $0.32 per diluted share, as compared to $0.52 in the second quarter of 2023 and $0.52 in the first quarter of 2024. Net income for the period was $4.5 million, as compar
Cass Information Systems, Inc. (NASDAQ:CASS) and FreightWaves SONAR, the leader in supply chain intelligence, are excited to announce a strategic partnership designed to benefit the freight and logistics industry. Cass, a premier provider of freight audit and payment solutions, is proud to announce its position as a critical channel partner for the SONAR Supply Chain Intelligence (SCI) tool, enabling Cass customers to easily access industry rate information and compare their own data for effective benchmarking purposes. Cass is an exclusive partner for SONAR SCI in the freight audit and payment space. The partnership will also allow Cass customers to directly access their data within th
Cass Commercial Bank proudly celebrates its 118th anniversary, marking over a century of unwavering commitment to financial excellence and community service. Established in 1906, Cass Commercial Bank has remained a pillar of strength and stability in the banking industry, consistently delivering exceptional service to its clients. Reflecting on this anniversary, President Dwight Erdbruegger remarked, "As we commemorate our 118th anniversary, we honor the legacy of strength and stability that has defined Cass Commercial Bank throughout the years. This anniversary is a testament to the dedication of our team, the loyalty of our customers, and the enduring values that have guided us since ou
Cass Information Systems, Inc. (NASDAQ:CASS), the leading provider of global freight payment solutions, announces the availability of Amplify by Cass™, an addition to the Cass Financial Suite® that helps enterprises and their freight carriers improve working capital levels. As freight flows become more efficient, Amplify by Cass bridges the gap between a shipper's efficiencies and desire to increase working capital and their carriers' needs to be paid timely. By adopting Amplify by Cass, shippers support some of their most valuable partners—their carriers—by providing an early payment solution. "Amplify by Cass is more than a financial solution. It's an interconnected partnership betwee
First Quarter Results (All comparisons refer to the first quarter of 2023, except as noted) Net income of $7.2 million, or $0.52 per diluted common share. Return on average equity and assets of 12.66% and 1.20%, respectively. Increase in facility expense transaction volumes of 23.0%. Processing fee growth of 8.9%. Limited operating expense growth to 0.7% despite facility expense transaction volume increase. Maintained exceptional credit quality, with no non-performing loans or charge-offs. Cass Information Systems, Inc. (NASDAQ:CASS), (the Company or Cass) reported first quarter 2024 earnings of $0.52 per diluted share, as compared to $0.51 in the first quarter of 2023
Cass Commercial Bank, a solid financial institution with a legacy of 117 years, is excited to announce the launch of its recent Equipment Finance Division. Designed to unlock the potential of capital assets across industries, this new division offers tailored equipment leasing solutions to finance growth, improve capital efficiency, and drive businesses forward. "Leasing frees up your working capital, allowing you to invest in other critical areas of your business," said Dwight Erdbruegger, President of Cass Commercial Bank. Our equipment financing offers a cost-effective way to access vehicles, machinery, and technology, helping you get ahead and stay ahead of the competition. "No two
Fourth Quarter Results (All comparisons refer to the fourth quarter of 2022, except as noted) Net income of $8.4 million, or $0.61 per diluted common share. Return on average equity of 16.06%. Increase in net interest margin to 3.30% from 3.15%. Increase in facility expense transaction volumes of 9.7% Maintained exceptional credit quality, with no non-performing loans or charge-offs. Cass Information Systems, Inc. (NASDAQ:CASS), (the Company or Cass) reported fourth quarter 2023 earnings of $0.61 per diluted share, as compared to $0.67 in the fourth quarter of 2022 and $0.54 in the third quarter of 2023. Net income for the period was $8.4 million, a decrease of 9.4%
Third Quarter Results (All comparisons refer to the third quarter of 2023, except as noted) Net income of $2.9 million, or $0.21 per diluted common share (includes $6.6 million of bad debt expense on a funding receivable related to a facility client). Increase in net interest margin to 3.55%. Increase in facility expense transaction volumes of 26.3%. Increased quarterly dividend to $0.31 per share. Repurchased 64,471 shares of Company stock. Cass Information Systems, Inc. (NASDAQ:CASS), (the Company or Cass) reported third quarter 2024 earnings of $0.21 per diluted share, as compared to $0.54 in the third quarter of 2023 and $0.32 in the second quarter of 2024. Net income for th
Second Quarter Results (All comparisons refer to the second quarter of 2023, except as noted) Net income of $4.5 million, or $0.32 per diluted common share. Return on average equity and assets of 8.01% and 0.78%, respectively. Increase in facility expense transaction volumes of 25.1%. Processing fee growth of 8.9%. Maintained exceptional credit quality, with no non-performing loans or charge-offs. Cass Information Systems, Inc. (NASDAQ:CASS), (the Company or Cass) reported second quarter 2024 earnings of $0.32 per diluted share, as compared to $0.52 in the second quarter of 2023 and $0.52 in the first quarter of 2024. Net income for the period was $4.5 million, as compar
First Quarter Results (All comparisons refer to the first quarter of 2023, except as noted) Net income of $7.2 million, or $0.52 per diluted common share. Return on average equity and assets of 12.66% and 1.20%, respectively. Increase in facility expense transaction volumes of 23.0%. Processing fee growth of 8.9%. Limited operating expense growth to 0.7% despite facility expense transaction volume increase. Maintained exceptional credit quality, with no non-performing loans or charge-offs. Cass Information Systems, Inc. (NASDAQ:CASS), (the Company or Cass) reported first quarter 2024 earnings of $0.52 per diluted share, as compared to $0.51 in the first quarter of 2023
Fourth Quarter Results (All comparisons refer to the fourth quarter of 2022, except as noted) Net income of $8.4 million, or $0.61 per diluted common share. Return on average equity of 16.06%. Increase in net interest margin to 3.30% from 3.15%. Increase in facility expense transaction volumes of 9.7% Maintained exceptional credit quality, with no non-performing loans or charge-offs. Cass Information Systems, Inc. (NASDAQ:CASS), (the Company or Cass) reported fourth quarter 2023 earnings of $0.61 per diluted share, as compared to $0.67 in the fourth quarter of 2022 and $0.54 in the third quarter of 2023. Net income for the period was $8.4 million, a decrease of 9.4%
Third Quarter Results (All comparisons refer to the third quarter of 2022, except as noted) Net income of $7.4 million, or $0.54 per diluted common share. Increase in total revenues of $2.0 million, or 4.3%. Return on average equity of 13.80%. Increase in net interest margin to 3.24% from 2.90%. Maintained exceptional credit quality, with no non-performing loans or charge-offs. Continued to make progress on technology initiatives to increase operational efficiency. Signed several new large facility clients. Repurchased 73,272 shares of Company stock. Increased quarterly dividend to $0.30 per share. Authorized the repurchase of up to 500,000 shares of common s
Second Quarter Results (All comparisons refer to the second quarter of 2022, except as noted) Net income of $7.1 million, or $0.52 per diluted common share. Increase in total revenues of $4.0 million, or 9.0%. Return on average equity of 13.37%. Increase in net interest margin to 3.25% from 2.54%. Increase in facility expense transaction volume of 8.8%. Maintained exceptional credit quality. Continued to make progress on technology initiatives to increase operational efficiency. Repurchased 63,305 shares of Company stock. Cass Information Systems, Inc. (NASDAQ:CASS), (the Company or Cass) reported second quarter 2023 earnings of $0.52 per diluted share, as compa
Cass Information Systems, Inc. (NASDAQ:CASS), the leading provider of transportation, energy, telecom and waste invoice payment and information services, reported fourth quarter 2021 earnings of $.55 per diluted share, an increase of 25% from the $.44 per diluted share it earned in the fourth quarter of 2020. Net income for the period was $7.7 million, an increase of 20% from the $6.4 million earned in the same period in 2020. The following table contains key figures for the fourth quarter and year-to-date 2021 and 2020: (Numbers in thousands except EPS and ROE) 4th Quarter % Change YTD % Change 2021 2020 2021 2020 Transportation Invoice Volume
Boosts Dividend by 4%; Augments Share Repurchase Program Cass Information Systems, Inc. (NASDAQ:CASS), the leading provider of transportation, energy, telecom and waste invoice payment and information services, reported third quarter 2021 earnings of $.48 per diluted share, an increase of 20% from the $.40 per diluted share it earned in the third quarter of 2020. Net income for the period was $6.8 million, an increase of 18% from the $5.8 million earned in the same period in 2020. 3rd Quarter YTD 2021 2020 % Change 2021 2020 % Change Transportation Invoice Volume 9.3 million 8.7 million 7.8 27.6 million 24.2 million 13.8
Cass Information Systems, Inc. (NASDAQ:CASS), the leading provider of transportation, energy, telecom and waste invoice payment and information services, reported second quarter 2021 earnings of $.48 per diluted share, an increase of 30% from the $.37 per diluted share it earned in the second quarter of 2020. Net income for the period was $7.0 million, an increase of 29% from the $5.4 million earned in the same period in 2020. 2nd Quarter YTD 2021 2020 % Change 2021 2020 % Change Transportation Invoice Volume 9.5 million 7.3 million 29.7 18.2 million 15.6 million 17.2 Transportation Dollar Volume $8.9 billion $5
Q1 2021 Marks 3rd Consecutive Quarter With Higher Earnings; Up 32% from Pandemic-Induced Low Cass Information Systems, Inc. (NASDAQ:CASS), the leading provider of transportation, energy, telecom, and waste invoice payment and information services, reported first quarter 2021 earnings of $.49 per diluted share, an increase of 32.4% from the pandemic-induced low of $.37 per diluted share it earned in the second quarter of 2020. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210422005184/en/Earnings Recovery Continues at Cass Information Systems (Graphic: Business Wire) Net income for the period was $7.1 million compared to $5.4 mi
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Piper Sandler analyst Frank Schiraldi reiterates Cass Information Sys (NASDAQ:CASS) with a Overweight and lowers the price target from $47 to $44.
Cass Information Sys (NASDAQ:CASS) reported quarterly earnings of $0.32 per share which missed the analyst consensus estimate of $0.53 by 39.62 percent. This is a 38.46 percent decrease over earnings of $0.52 per share from the same period last year. The company reported quarterly sales of $48.59 million which missed the analyst consensus estimate of $49.99 million by 2.80 percent. This is a 0.79 percent increase over sales of $48.21 million the same period last year.
Cass Information Sys (NASDAQ:CASS) reported quarterly earnings of $0.52 per share which missed the analyst consensus estimate of $0.59 by 11.86 percent. This is a 1.96 percent increase over earnings of $0.51 per share from the same period last year. The company reported quarterly sales of $49.68 million which missed the analyst consensus estimate of $50.79 million by 2.19 percent. This is a 0.67 percent increase over sales of $49.34 million the same period last year.
Cass Information Sys (NASDAQ:CASS) reported its Q4 earnings results on Thursday, January 25, 2024 at 08:30 AM. Here's what investors need to know about the announcement. Earnings Cass Information Sys beat estimated earnings by 27.08%, reporting an EPS of $0.61 versus an estimate of $0.48. Revenue was up $1.79 million from the same period last year. Past Earnings Performance Last quarter the company missed on EPS by $0.01 which was followed by a 1.48% drop in the share price the next day. Here's a look at Cass Information Sys's past performance: Quarter Q3 2023 Q2 2023 Q1 2023 Q4 2022 EPS Estimate 0.55 0.67 0.70 0.71 EPS Actual 0.54 0.52 0.51 0.67 Revenue Estimate 48.08M 49.67M 50.
Cass Information Sys (NASDAQ:CASS) reported quarterly earnings of $0.61 per share which beat the analyst consensus estimate of $0.48 by 27.08 percent. This is a 8.96 percent decrease over earnings of $0.67 per share from the same period last year. The company reported quarterly sales of $50.74 million which beat the analyst consensus estimate of $48.33 million by 4.98 percent. This is a 3.66 percent increase over sales of $48.95 million the same period last year.
Although U.S. stocks closed higher on Tuesday, there were a few notable insider trades. When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision. Below is a look at a few recent notable insider purchases. For more, check out Benzinga's insider transactions platform. Howard Hughes The Trade: Howard Hughes Holdings Inc. (NYSE:HHH) Director William Ackman acquired a total of 132,320 shares