Board Change • May 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 6 highly experienced directors. Independent Director John Drabik was the last director to join the board, commencing their role in 2026. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • Apr 27
First quarter dividend of US$0.32 announced Shareholders will receive a dividend of US$0.32. Ex-date: 5th June 2026 Payment date: 15th June 2026 Dividend yield will be 2.7%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is covered by both earnings (53% earnings payout ratio) and cash flows (52% cash payout ratio). The dividend has increased by an average of 6.7% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 22% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 26
First quarter 2026 earnings: EPS exceeds analyst expectations First quarter 2026 results: EPS: US$0.68 (up from US$0.64 in 1Q 2025). Revenue: US$53.1m (up 3.2% from 1Q 2025). Net income: US$8.74m (up 2.2% from 1Q 2025). Profit margin: 17% (in line with 1Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.3%. Revenue is forecast to grow 2.3% p.a. on average during the next 2 years, compared to a 5.6% growth forecast for the Diversified Financial industry in the US. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • Apr 24
Cass Information Systems, Inc. Announces Board and Committee Changes, Effective April 21, 2026 Cass Information Systems, Inc. announced changes to its Board of Directors, effective April 21, 2026. John J. Drabik was elected as a member of the Board and also appointed to serve on the Company’s Audit and Risk Committee. Mr. Drabik is Executive Vice President and Chief Financial Officer of Energizer Holdings, Inc., where he oversees global finance, accounting, investor relations and information technology. He has been with Energizer and its predecessor organization since 2001 and has held senior leadership roles across corporate development, treasury, and accounting, including playing a key role in the company’s spin-off and its growth as a stand-alone public company. Prior to Energizer, Mr. Drabik began his career in public accounting at Arthur Andersen and later worked in the import/export division of May Department Stores. He holds a Bachelor of Science in Accountancy from the University of Missouri and an MBA from Washington University in St. Louis. The Company also announced that Sally H. Roth, James J. Lindemann, and Ralph W. Clermont retired from the Board of Directors after not standing for re-election at the Annual Meeting of Shareholders. Sally H. Roth (Sally) served as a director since 2019. Sally’s extensive career in banking has added substantial value to the Company, not only to the Board and its’ Nominating and Corporate Governance Committee, but also through her tenure on the Executive Loan Committee of Cass Commercial Bank. Ralph W. Clermont (Ralph) served as a director since 2015. Ralph has served the Company in a variety of committee memberships since his Board appointment, including as Chairman of the Audit and Risk Committee and member of the Nominating and Corporate Governance Committee. Ralph’s strategic guidance has been invaluable to the Company during his directorship. James L. Lindemann (Jim) served as a director since 2007. Jim’s distinguished career at Emerson Electric allowed him to bring valuable perspective to the Company from both strategic and governance standpoints. Jim served as Chairman of the Company’s Compensation Committee, providing valuable guidance on the compensation plans, policies and overall programs of the Company. New Risk • Apr 23
New major risk - Revenue and earnings growth Earnings have declined by 3.6% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Apr 09
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 14% to US$47.20. The fair value is estimated to be US$38.96, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.8% over the last 3 years. Earnings per share has declined by 11%. Revenue is forecast to grow by 4.7% in 2 years. Earnings are forecast to grow by 43% in the next 2 years. Announcement • Mar 09
Cass Information Systems, Inc., Annual General Meeting, Apr 21, 2026 Cass Information Systems, Inc., Annual General Meeting, Apr 21, 2026. Location: the bogey club, 9266 clayton road, missouri 63124, saint louis United States Reported Earnings • Mar 09
Full year 2025 earnings: EPS in line with analyst expectations despite revenue beat Full year 2025 results: EPS: US$2.36 (up from US$1.37 in FY 2024). Revenue: US$207.4m (up 2.7% from FY 2024). Net income: US$31.1m (up 68% from FY 2024). Profit margin: 15% (up from 9.2% in FY 2024). The increase in margin was primarily driven by lower expenses. Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 1.9% p.a. on average during the next 2 years, compared to a 5.6% growth forecast for the Diversified Financial industry in the US. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Upcoming Dividend • Feb 24
Upcoming dividend of US$0.32 per share Eligible shareholders must have bought the stock before 03 March 2026. Payment date: 13 March 2026. Payout ratio is a comfortable 53% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of American dividend payers (4.2%). Higher than average of industry peers (1.1%). Declared Dividend • Jan 26
Fourth quarter dividend of US$0.32 announced Shareholders will receive a dividend of US$0.32. Ex-date: 3rd March 2026 Payment date: 13th March 2026 Dividend yield will be 2.8%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is covered by both earnings (53% earnings payout ratio) and cash flows (36% cash payout ratio). The dividend has increased by an average of 7.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 43% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jan 22
Full year 2025 earnings: EPS in line with analyst expectations despite revenue beat Full year 2025 results: EPS: US$2.36 (up from US$1.42 in FY 2024). Revenue: US$207.4m (down 5.7% from FY 2024). Net income: US$31.1m (up 62% from FY 2024). Profit margin: 15% (up from 8.7% in FY 2024). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 1.9% p.a. on average during the next 2 years, compared to a 6.8% growth forecast for the Diversified Financial industry in the US. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Announcement • Jan 22
Cass Information Systems, Inc. Approves Quarterly Dividend, Payable on March 13, 2026 Cass Information Systems, Inc. announced that On January 20, 2026, the Company’s Board of Directors approved a quarterly dividend of $0.32 per share with the dividend payable on March 13, 2026 to shareholders of record on March 3, 2026. Upcoming Dividend • Nov 28
Upcoming dividend of US$0.32 per share Eligible shareholders must have bought the stock before 05 December 2025. Payment date: 15 December 2025. Payout ratio is a comfortable 60% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of American dividend payers (4.5%). Higher than average of industry peers (1.0%). Declared Dividend • Oct 27
Third quarter dividend increased to US$0.32 Dividend of US$0.32 is 3.2% higher than last year. Ex-date: 5th December 2025 Payment date: 15th December 2025 Dividend yield will be 3.2%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is covered by both earnings (60% earnings payout ratio) and cash flows (53% cash payout ratio). The dividend has increased by an average of 7.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 39% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 24
Third quarter 2025 earnings: EPS exceeds analyst expectations Third quarter 2025 results: EPS: US$0.70 (up from US$0.22 in 3Q 2024). Revenue: US$54.0m (down 2.8% from 3Q 2024). Net income: US$9.21m (up 213% from 3Q 2024). Profit margin: 17% (up from 5.3% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.9%. Revenue is forecast to stay flat during the next 3 years compared to a 6.5% growth forecast for the Diversified Financial industry in the US. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. New Risk • Oct 23
New major risk - Revenue and earnings growth Earnings have declined by 2.9% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Announcement • Oct 23
Cass Information Systems, Inc. Approves Dividend for the Fourth Quarter of 2025, Payable on December 15, 2025 Cass Information Systems, Inc. on October 21, 2025, the Company’s Board of Directors approved an increase in the quarterly dividend of $0.01 to $0.32 per share beginning with the dividend payable on December 15, 2025 to shareholders of record on December 5, 2025 for the fourth quarter of 2025. Major Estimate Revision • Oct 08
Consensus EPS estimates fall by 18% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from US$2.63 to US$2.16 per share. Revenue forecast steady at US$190.9m. Net income forecast to grow 69% next year vs 23% growth forecast for Diversified Financial industry in the US. Consensus price target down from US$50.00 to US$47.00. Share price was steady at US$38.59 over the past week. Board Change • Sep 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 8 highly experienced directors. President, CEO & Director Martin Resch was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Aug 29
Upcoming dividend of US$0.31 per share Eligible shareholders must have bought the stock before 05 September 2025. Payment date: 15 September 2025. Payout ratio is on the higher end at 77%, however this is supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of American dividend payers (4.4%). Higher than average of industry peers (0.9%). Declared Dividend • Jul 21
Second quarter dividend of US$0.31 announced Shareholders will receive a dividend of US$0.31. Ex-date: 5th September 2025 Payment date: 15th September 2025 Dividend yield will be 2.9%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is covered by both earnings (77% earnings payout ratio) and cash flows (39% cash payout ratio). The dividend has increased by an average of 7.4% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 96% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 18
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: US$0.39 (up from US$0.33 in 2Q 2024). Revenue: US$48.6m (down 11% from 2Q 2024). Net income: US$5.16m (up 15% from 2Q 2024). Profit margin: 11% (up from 8.3% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 5.9%. Earnings per share (EPS) also missed analyst estimates by 8.3%. Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Diversified Financial industry in the US. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. New Risk • Jul 17
New major risk - Revenue and earnings growth Earnings have declined by 1.4% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 1.4% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (9.3% net profit margin). Announcement • Jul 17
Cass Information Systems, Inc. Approves Quarterly Dividend, Payable on September 15, 2025 On July 15, 2025, the Cass Information Systems, Inc.’s Board of Directors approved a quarterly dividend of $0.31per share with the dividend payable on September 15, 2025 to shareholders of record on September 5, 2025. New Risk • Jul 03
New major risk - Revenue and earnings growth Earnings have declined by 1.5% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 1.5% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (9.3% net profit margin). Upcoming Dividend • May 27
Upcoming dividend of US$0.31 per share Eligible shareholders must have bought the stock before 03 June 2025. Payment date: 13 June 2025. Payout ratio is on the higher end at 80%, however this is supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of American dividend payers (4.8%). Higher than average of industry peers (0.9%). Declared Dividend • Apr 25
First quarter dividend of US$0.31 announced Shareholders will receive a dividend of US$0.31. Ex-date: 3rd June 2025 Payment date: 13th June 2025 Dividend yield will be 3.0%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is covered by both earnings (80% earnings payout ratio) and cash flows (56% cash payout ratio). The dividend has increased by an average of 7.4% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 35% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 17
First quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2025 results: EPS: US$0.64 (up from US$0.53 in 1Q 2024). Revenue: US$51.4m (down 6.4% from 1Q 2024). Net income: US$8.55m (up 20% from 1Q 2024). Profit margin: 17% (up from 13% in 1Q 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 8.1%. Earnings per share (EPS) exceeded analyst estimates by 10%. Revenue is forecast to grow 2.2% p.a. on average during the next 2 years, compared to a 5.5% growth forecast for the Diversified Financial industry in the US. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • Apr 17
Cass Information Systems, Inc. Declares Second Quarter Dividend, Payable on June 13, 2025 On April 15, 2025, Cass Information Systems, Inc.'s Board of Directors declared a second quarter dividend of $0.31 per share payable on June 13, 2025 to shareholders of record on June 3, 2025. Announcement • Mar 07
Cass Information Systems, Inc., Annual General Meeting, Apr 15, 2025 Cass Information Systems, Inc., Annual General Meeting, Apr 15, 2025. Location: the bogey club located at 9266 clayton road, missouri 63124., saint louis United States Reported Earnings • Mar 06
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: US$1.42 (down from US$2.22 in FY 2023). Revenue: US$219.9m (up 3.1% from FY 2023). Net income: US$19.2m (down 36% from FY 2023). Profit margin: 8.7% (down from 14% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.4%. Revenue is forecast to grow 1.9% p.a. on average during the next 2 years, compared to a 6.3% growth forecast for the Diversified Financial industry in the US. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Upcoming Dividend • Feb 25
Upcoming dividend of US$0.31 per share Eligible shareholders must have bought the stock before 04 March 2025. Payment date: 14 March 2025. Payout ratio is on the higher end at 85%, and the cash payout ratio is above 100%. Trailing yield: 2.8%. Lower than top quartile of American dividend payers (4.5%). Higher than average of industry peers (0.9%). Declared Dividend • Jan 30
Fourth quarter dividend of US$0.31 announced Shareholders will receive a dividend of US$0.31. Ex-date: 4th March 2025 Payment date: 14th March 2025 Dividend yield will be 2.9%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is covered by earnings (85% earnings payout ratio) but not covered by cash flows (112% cash payout ratio). The dividend has increased by an average of 7.4% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 82% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jan 24
Cass Information Systems, Inc. Declares A First Quarter Dividend, Payable on March 14, 2025 Cass Information Systems, Inc. declared a first quarter dividend of $0.31 per share payable on March 14, 2025 to shareholders of record on March 4, 2025. Reported Earnings • Jan 23
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: US$1.42 (down from US$2.22 in FY 2023). Revenue: US$219.9m (up 3.1% from FY 2023). Net income: US$19.2m (down 36% from FY 2023). Profit margin: 8.7% (down from 14% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.4%. Revenue is forecast to grow 1.2% p.a. on average during the next 2 years, compared to a 4.3% growth forecast for the Diversified Financial industry in the US. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Major Estimate Revision • Dec 18
Consensus EPS estimates fall by 14% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from US$1.48 to US$1.27 per share. Revenue forecast steady at US$198.7m. Net income forecast to grow 32% next year vs 21% growth forecast for Diversified Financial industry in the US. Consensus price target up from US$45.00 to US$49.00. Share price fell 5.6% to US$42.02 over the past week. Price Target Changed • Dec 17
Price target increased by 11% to US$49.00 Up from US$44.00, the current price target is provided by 1 analyst. New target price is 12% above last closing price of US$43.89. Stock is down 2.4% over the past year. The company is forecast to post earnings per share of US$1.27 for next year compared to US$2.22 last year. Upcoming Dividend • Nov 26
Upcoming dividend of US$0.31 per share Eligible shareholders must have bought the stock before 03 December 2024. Payment date: 13 December 2024. Payout ratio is a comfortable 71% but the company is paying out more than the cash it is generating. Trailing yield: 2.8%. Lower than top quartile of American dividend payers (4.2%). Higher than average of industry peers (0.9%). Declared Dividend • Oct 28
Third quarter dividend of US$0.31 announced Shareholders will receive a dividend of US$0.31. Ex-date: 3rd December 2024 Payment date: 13th December 2024 Dividend yield will be 2.8%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is covered by both earnings (71% earnings payout ratio) and cash flows (63% cash payout ratio). The dividend has increased by an average of 7.4% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 72% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Major Estimate Revision • Oct 24
Consensus EPS estimates fall by 20% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from US$1.85 to US$1.48 per share. Revenue forecast steady at US$198.2m. Net income forecast to grow 36% next year vs 23% growth forecast for Diversified Financial industry in the US. Consensus price target up from US$44.00 to US$45.00. Share price was steady at US$41.93 over the past week. Reported Earnings • Oct 17
Third quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2024 results: EPS: US$0.22 (down from US$0.55 in 3Q 2023). Revenue: US$55.6m (up 2.9% from 3Q 2023). Net income: US$2.94m (down 60% from 3Q 2023). Profit margin: 5.3% (down from 14% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) missed analyst estimates by 58%. Revenue is forecast to stay flat during the next 2 years compared to a 4.7% growth forecast for the Diversified Financial industry in the US. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has remained flat. Announcement • Oct 17
Cass Information Systems, Inc. Approves Dividend for the Fourth Quarter of 2024, Payable on December 13, 2024 The Board of Directors of Cass Information Systems, Inc. approved an increase in the quarterly dividend from $0.30 to $0.31 per share for the fourth quarter of 2024, payable on December 13, 2024 to shareholders of record on December 3, 2024. Upcoming Dividend • Aug 27
Upcoming dividend of US$0.30 per share Eligible shareholders must have bought the stock before 03 September 2024. Payment date: 13 September 2024. Payout ratio is a comfortable 59% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of American dividend payers (4.3%). Higher than average of industry peers (1.0%). Declared Dividend • Aug 02
Second quarter dividend of US$0.30 announced Shareholders will receive a dividend of US$0.30. Ex-date: 3rd September 2024 Payment date: 13th September 2024 Dividend yield will be 2.9%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is covered by both earnings (59% earnings payout ratio) and cash flows (76% cash payout ratio). The dividend has increased by an average of 7.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 26% over the next year, which should provide support to the dividend and adequate earnings cover. Major Estimate Revision • Jul 25
Consensus EPS estimates fall by 16% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$202.1m to US$196.8m. EPS estimate also fell from US$2.21 per share to US$1.86 per share. Net income forecast to grow 17% next year vs 19% growth forecast for Diversified Financial industry in the US. Consensus price target down from US$47.00 to US$44.00. Share price rose 3.7% to US$40.95 over the past week. Reported Earnings • Jul 19
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: EPS: US$0.33 (down from US$0.53 in 2Q 2023). Revenue: US$54.3m (up 4.9% from 2Q 2023). Net income: US$4.48m (down 37% from 2Q 2023). Profit margin: 8.3% (down from 14% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) also missed analyst estimates by 40%. Revenue is forecast to grow 1.3% p.a. on average during the next 2 years, compared to a 3.5% growth forecast for the Diversified Financial industry in the US. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has fallen by 1% per year. Announcement • Jul 19
Cass Information Systems, Inc. Declares Third Quarter Dividend, Payable on September 13, 2024 Cass Information Systems, Inc. announced on July 16, 2024, the company’s board of directors declared a third quarter dividend of $0.30 per share payable on September 13, 2024 to shareholders of record on September 3, 2024. Valuation Update With 7 Day Price Move • Jul 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$46.20, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 11x in the Diversified Financial industry in the US. Total returns to shareholders of 23% over the past three years. Buy Or Sell Opportunity • Jul 16
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 3.3% to US$46.20. The fair value is estimated to be US$37.18, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 8.5%. Revenue is forecast to decline by 4.5% in a year. Earnings are forecast to grow by 9.0% in the next year. Upcoming Dividend • May 28
Upcoming dividend of US$0.30 per share Eligible shareholders must have bought the stock before 04 June 2024. Payment date: 14 June 2024. Payout ratio is a comfortable 53% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of American dividend payers (4.7%). Higher than average of industry peers (1.0%). Announcement • May 09
Cass Information Systems Launches Working Capital Solution for Shippers and Carriers Cass Information Systems, Inc. announced 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. Cass’s fully integrated freight payment solution blends invoice lifecycle management, optimized cash flow and payment options, deep spend visibility, and market intelligence to create a complete solution used by many of the world’s largest shippers. Buy Or Sell Opportunity • May 07
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 3.2% to US$44.37. The fair value is estimated to be US$36.95, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 8.5%. Revenue is forecast to decline by 3.4% in a year. Earnings are forecast to grow by 15% in the next year. Declared Dividend • May 06
First quarter dividend of US$0.30 announced Shareholders will receive a dividend of US$0.30. Ex-date: 4th June 2024 Payment date: 14th June 2024 Dividend yield will be 2.7%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is covered by both earnings (53% earnings payout ratio) and cash flows (76% cash payout ratio). The dividend has increased by an average of 7.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 19% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 06
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: EPS: US$0.53 (up from US$0.52 in 1Q 2023). Revenue: US$55.0m (up 5.2% from 1Q 2023). Net income: US$7.15m (flat on 1Q 2023). Profit margin: 13% (in line with 1Q 2023). Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) also missed analyst estimates by 12%. Revenue is forecast to grow 1.8% p.a. on average during the next 2 years, compared to a 3.7% growth forecast for the Diversified Financial industry in the US. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Major Estimate Revision • Apr 25
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$210.8m to US$204.4m. EPS estimate also fell from US$2.74 per share to US$2.35 per share. Net income forecast to grow 15% next year vs 17% growth forecast for Diversified Financial industry in the US. Consensus price target down from US$51.00 to US$47.00. Share price was steady at US$43.44 over the past week. Price Target Changed • Apr 22
Price target decreased by 7.8% to US$47.00 Down from US$51.00, the current price target is provided by 1 analyst. New target price is 13% above last closing price of US$41.65. Stock is up 16% over the past year. The company is forecast to post earnings per share of US$2.35 for next year compared to US$2.22 last year. Reported Earnings • Apr 19
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: EPS: US$0.53 (up from US$0.52 in 1Q 2023). Revenue: US$55.0m (up 5.2% from 1Q 2023). Net income: US$7.15m (flat on 1Q 2023). Profit margin: 13% (in line with 1Q 2023). Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) also missed analyst estimates by 12%. Revenue is forecast to grow 2.6% p.a. on average during the next 2 years, compared to a 4.0% growth forecast for the Diversified Financial industry in the US. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Mar 08
Cass Information Systems, Inc., Annual General Meeting, Apr 16, 2024 Cass Information Systems, Inc., Annual General Meeting, Apr 16, 2024, at 08:30 Central Standard Time. Location: The Bogey Club, located at 9266 Clayton Road, Saint Louis, Missouri 63124 Saint Louis Missouri United States Agenda: To elect three directors to serve, each for a three-year term; to hold a non-binding advisory vote on executive compensation; to ratify the appointment of KPMG LLP as the independent registered public accounting firm for 2024; and to consider and act upon such other matters as may properly come before the Annual Meeting or any adjournment thereof. Reported Earnings • Mar 04
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: US$2.22 (down from US$2.58 in FY 2022). Revenue: US$213.2m (up 14% from FY 2022). Net income: US$30.1m (down 14% from FY 2022). Profit margin: 14% (down from 19% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 6.9%. Revenue is forecast to grow 2.7% p.a. on average during the next 2 years, compared to a 4.0% growth forecast for the Diversified Financial industry in the US. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Feb 26
Upcoming dividend of US$0.30 per share Eligible shareholders must have bought the stock before 04 March 2024. Payment date: 15 March 2024. Trailing yield: 2.5%. Lower than top quartile of American dividend payers (4.8%). Higher than average of industry peers (1.0%). Declared Dividend • Feb 01
Fourth quarter dividend of US$0.30 announced Shareholders will receive a dividend of US$0.30. Ex-date: 4th March 2024 Payment date: 15th March 2024 Dividend yield will be 2.7%, which is higher than the industry average of 1.1%. Sustainability & Growth Dividend is covered by both earnings (53% earnings payout ratio) and cash flows (56% cash payout ratio). The dividend has increased by an average of 8.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 38% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jan 25
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: US$2.22 (down from US$2.58 in FY 2022). Revenue: US$213.2m (up 14% from FY 2022). Net income: US$30.1m (down 14% from FY 2022). Profit margin: 14% (down from 19% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 6.9%. Revenue is forecast to grow 3.2% p.a. on average during the next 2 years, compared to a 5.0% growth forecast for the Diversified Financial industry in the US. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Jan 25
Cass Information Systems, Inc. Declares First Quarter Dividend, Payable on March 15, 2024 Cass Information Systems, Inc. announced that on January 25, 2024, the company’s board of directors declared a first quarter dividend of $0.30 per share payable on March 15, 2024 to shareholders of record on March 5, 2024. Price Target Changed • Dec 12
Price target increased by 7.1% to US$45.00 Up from US$42.00, the current price target is provided by 1 analyst. New target price is 5.5% above last closing price of US$42.65. Stock is down 3.2% over the past year. The company is forecast to post earnings per share of US$2.04 for next year compared to US$2.58 last year. Upcoming Dividend • Nov 27
Upcoming dividend of US$0.30 per share at 2.9% yield Eligible shareholders must have bought the stock before 04 December 2023. Payment date: 15 December 2023. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of American dividend payers (5.0%). Higher than average of industry peers (1.1%). Announcement • Oct 20
Cass Information Systems, Inc. Approves an Increase in the Quarterly Dividend, Payable on December 15, 2023 On October 17, 2023, Cass Information Systems, Inc.’s Board of Directors approved an increase in the quarterly dividend to $0.30 per share effective with the dividend payable on December 15, 2023 to shareholders of record on December 5, 2023. Reported Earnings • Oct 20
Third quarter 2023 earnings: EPS misses analyst expectations Third quarter 2023 results: EPS: US$0.55 (down from US$0.65 in 3Q 2022). Revenue: US$54.0m (up 11% from 3Q 2022). Net income: US$7.39m (down 16% from 3Q 2022). Profit margin: 14% (down from 18% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.8%. Revenue is forecast to stay flat during the next 2 years compared to a 5.7% growth forecast for the Diversified Financial industry in the US. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Upcoming Dividend • Aug 25
Upcoming dividend of US$0.29 per share at 3.0% yield Eligible shareholders must have bought the stock before 01 September 2023. Payment date: 15 September 2023. Payout ratio is a comfortable 48% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of American dividend payers (4.9%). Higher than average of industry peers (1.3%). Major Estimate Revision • Jul 27
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$199.8m to US$194.5m. EPS estimate also fell from US$2.58 per share to US$2.22 per share. Net income forecast to grow 12% next year vs 11% growth forecast for Diversified Financial industry in the US. Consensus price target down from US$43.00 to US$42.00. Share price fell 2.8% to US$38.71 over the past week. Announcement • Jul 23
Cass Information Systems, Inc. Declares Third Quarter Dividend, Payable on September 15, 2023 On July 18, 2023, Cass Information Systems, Inc. Board of Directors declared a third quarter dividend of $0.29 per share payable on September 15, 2023 to shareholders of record on September 5, 2023. Reported Earnings • Jul 20
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: EPS: US$0.53 (down from US$0.63 in 2Q 2022). Revenue: US$52.0m (up 17% from 2Q 2022). Net income: US$7.14m (down 17% from 2Q 2022). Profit margin: 14% (down from 19% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 5.2%. Earnings per share (EPS) also missed analyst estimates by 22%. Revenue is forecast to grow 1.9% p.a. on average during the next 2 years, compared to a 6.5% growth forecast for the Diversified Financial industry in the US. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 26
Upcoming dividend of US$0.29 per share at 3.0% yield Eligible shareholders must have bought the stock before 02 June 2023. Payment date: 15 June 2023. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of American dividend payers (5.1%). Higher than average of industry peers (1.4%). Recent Insider Transactions • Apr 25
President recently bought US$80k worth of stock On the 21st of April, Martin Resch bought around 2k shares on-market at roughly US$36.78 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Martin has been a buyer over the last 12 months, purchasing a net total of US$98k worth in shares. Major Estimate Revision • Apr 24
Consensus EPS estimates fall by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$207.8m to US$200.0m. EPS estimate also fell from US$3.03 per share to US$2.59 per share. Net income forecast to grow 12% next year vs 0.6% growth forecast for Diversified Financial industry in the US. Consensus price target down from US$50.00 to US$43.00. Share price fell 12% to US$37.13 over the past week. Price Target Changed • Apr 20
Price target decreased by 17% to US$43.00 Down from US$52.00, the current price target is provided by 1 analyst. New target price is 14% above last closing price of US$37.61. Stock is down 8.6% over the past year. The company is forecast to post earnings per share of US$2.59 for next year compared to US$2.58 last year. Reported Earnings • Apr 19
First quarter 2023 earnings: EPS and revenues miss analyst expectations First quarter 2023 results: EPS: US$0.52 (down from US$0.61 in 1Q 2022). Revenue: US$49.0m (up 15% from 1Q 2022). Net income: US$7.12m (down 14% from 1Q 2022). Profit margin: 14% (down from 19% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 3.9%. Earnings per share (EPS) also missed analyst estimates by 27%. Revenue is forecast to grow 6.3% p.a. on average during the next 2 years, compared to a 8.7% growth forecast for the Diversified Financial industry in the US. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 03
Full year 2022 earnings released: EPS: US$2.58 (vs US$2.03 in FY 2021) Full year 2022 results: EPS: US$2.58 (up from US$2.03 in FY 2021). Revenue: US$183.8m (up 19% from FY 2021). Net income: US$34.9m (up 22% from FY 2021). Profit margin: 19% (in line with FY 2021). Revenue is forecast to grow 8.5% p.a. on average during the next 2 years, compared to a 10% growth forecast for the IT industry in the US. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 4% per year. Upcoming Dividend • Feb 23
Upcoming dividend of US$0.29 per share at 2.4% yield Eligible shareholders must have bought the stock before 02 March 2023. Payment date: 15 March 2023. Trailing yield: 2.4%. Lower than top quartile of American dividend payers (4.4%). Higher than average of industry peers (1.5%). Announcement • Jan 28
Cass Information Systems, Inc. Declares First Quarter Dividend, Payable on March 15, 2023 Cass Information Systems, Inc. announced that on January 24, 2023, the Company’s Board of Directors declared a first quarter dividend of $0.29 per share payable on March 15, 2023 to shareholders of record on March 3, 2023. Reported Earnings • Jan 23
Full year 2022 earnings released: EPS: US$2.58 (vs US$2.03 in FY 2021) Full year 2022 results: EPS: US$2.58 (up from US$2.03 in FY 2021). Revenue: US$183.8m (up 19% from FY 2021). Net income: US$34.9m (up 22% from FY 2021). Profit margin: 19% (in line with FY 2021). Revenue is forecast to grow 8.5% p.a. on average during the next 2 years, compared to a 10% growth forecast for the IT industry in the US. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Recent Insider Transactions Derivative • Dec 04
Chairman & CEO exercised options and sold US$265k worth of stock On the 1st of December, Eric Brunngraber exercised 26.73k options at around US$31.92, then sold 23k of the shares acquired at an average of US$43.56 per share and kept the remainder. For the year to December 2015, Eric's total compensation was 32% salary and 68% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2022, Eric has owned 105.91k shares directly. Company insiders have collectively sold US$245k more than they bought, via options and on-market transactions in the last 12 months. Upcoming Dividend • Nov 25
Upcoming dividend of US$0.29 per share Eligible shareholders must have bought the stock before 02 December 2022. Payment date: 15 December 2022. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of American dividend payers (4.3%). Higher than average of industry peers (1.5%).