Cass Info Sys Stock Price, News & Analysis

Cass Information Systems has appointed Tony Urban as the new executive vice president and president of its Transportation Information Services (TIS), effective December 30, 2022. Urban, who replaces Mark Campbell, has over 20 years of experience at Cass, with a successful track record in TIS operations and global expansion. The transition reflects Cass's commitment to strengthening its leadership to enhance growth strategies, as noted by CEO Eric Brunngraber.

Cass Information Systems reported third-quarter 2022 earnings of $0.64 per diluted share, up 33.3% from $0.48 in Q3 2021, with net income rising 29.3% to $8.8 million. Record processing volumes reached $11.5 billion, a 21.1% increase. Financial fees grew by 30.5% to $2.6 million, while net interest income surged 39.7%. Operating expenses rose 18.3%, influenced by personnel costs related to technology investments. Despite a decline in average deposits compared to Q2 2022, the company maintains strong credit quality and anticipates improved operating leverage in late 2023.

Cass Information Systems (CASS) announced the appointment of Ann Marr to its Board of Directors, effective August 2, 2022. Currently the Executive Vice President of Global Human Resources at World Wide Technology, Marr brings over 30 years of HR experience. She has led diversity and inclusion initiatives and received various accolades for her contributions to the business community. Cass CEO Eric Brunngraber expressed confidence that her expertise will enhance the company’s focus on adapting to workplace changes and advancing diversity efforts.

Cass Information Systems reported a strong second quarter of 2022, with diluted earnings per share rising 29.2% to $.62 and net income increasing 21.9% to $8.6 million. Total transportation dollar volumes reached a record $11.4 billion, marking a 27.7% rise, driven by inflation and supply chain factors. Financial fee income surged 41.6%, while net interest income rose 26.2%. Despite a slight increase in operating expenses by 12.9%, credit quality remains solid with no charge-offs. The company maintains significant liquidity and a healthy capital ratio.

Cass Information Systems (NASDAQ: CASS) has announced its acquisition of TouchPoint, a mobile church management software developer. This acquisition aims to enhance services for faith-based and non-profit organizations, combining TouchPoint’s capabilities with Gyve Generosity Services, an online giving platform owned by Cass. Ross Miller, former COO of Pursuant, will lead the integration. This merger is expected to provide an all-in-one solution for member engagement and financial management, reflecting Cass's commitment to this sector.

Cass Information Systems announced the appointment of Todd Wills as the new senior vice president and general manager of its utilities business, effective April 18, 2022. He replaces Gary Langfitt, who will retire at the year's end after 23 years of leadership. Wills brings over 20 years of experience in data, analytics, and technology, previously serving as managing director at CAS and holding roles at Emerson Electric. Cass, which disburses over $80 billion annually and has total assets exceeding $2.5 billion, is included in the Russell 2000.

Cass Information Systems reported record first quarter 2022 results with a net income of $8.3 million, up 16.8% from the previous year. Diluted earnings per share rose by 22.4% to $0.60. The company processed transportation dollar volumes of $10.9 billion, marking a 37.3% increase, while financial fees increased 50.5%. Average loans (excluding PPP) grew by 24.6%. Operating expenses increased by 11.6%, driven by higher wages and technology investments. The company maintained strong credit quality with no charge-offs.

Cass Information Systems (NASDAQ: CASS) has promoted Martin Resch to president, adding to his current role as COO. Eric Brunngraber continues as chairman and CEO. Resch, who joined in November 2020, has demonstrated strategic execution in the invoice payment and information services sector. His expanded role aims to enhance responsibilities in technology and revenue sources. Cass, founded in 1906, manages over $80 billion in disbursements annually and has total assets exceeding $2.5 billion, supported by Cass Commercial Bank.

Cass Information Systems reported a robust financial performance for Q4 2021, with earnings per share rising 25% to $0.55 and net income up 20% to $7.7 million compared to Q4 2020. Transportation invoice and dollar volumes surged by 2.8% and 38.7%, respectively, driven by supply chain disruptions and increasing fuel surcharges. For the full year, EPS increased 16% to $2.00, with revenues reaching $154.1 million. The board declared a quarterly dividend of $0.28 and highlighted ongoing stock repurchases of 278,919 shares in Q4, reflecting the company's strong capital position.