Cass Stock Slips Before Dividend Date as Freight Data Teases a Recovery
Cass Information Systems Inc. shares slipped in thin early trade Friday, giving back a piece of this week’s rise as investors weighed a steady dividend calendar against freight data that still showed weaker shipment volumes. CASS traded at $46.24 at 9:57 a.m. EDT, down 0.57%, after opening at $46.63 and touching $46.80; volume was 2,990 shares, well below Google Finance’s listed average of 76,330. The move matters now because Cass is not just another small bank stock. The St. Louis company provides payment and information-management services for supply-chain, facilities and other operating costs, and is supported by Cass Commercial Bank, leaving the shares exposed to freight activity, payment balances and interest income at the same time.