Barrett Business Services (NASDAQ:BBSI) Sets New 1-Year High After Dividend Announcement

Barrett Business Services, Inc. (NASDAQ:BBSI) shares reached a new 52-week high on Wednesday following a dividend announcement from the company. The company traded as high as $39.94 and last traded at $39.78, with a volume of 4067 shares. The stock had previously closed at $37.42.

The newly announced dividend which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.32 annualized dividend and a dividend yield of 0.77%. Barrett Business Services’s dividend payout ratio (DPR) is presently 16.93%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Roth Mkm increased their price target on Barrett Business Services from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday. Barrington Research increased their price target on Barrett Business Services from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday.

Barrett Business Services Trading Up 0.4 %

The firm has a market cap of $1.08 billion, a P/E ratio of 21.82, a PEG ratio of 1.23 and a beta of 1.39. The company’s 50-day moving average is $36.81 and its two-hundred day moving average is $34.47.

Insider Transactions at Barrett Business Services

In other news, CEO Gary Kramer sold 34,288 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $35.05, for a total transaction of $1,201,794.40. Following the completion of the sale, the chief executive officer now owns 242,543 shares in the company, valued at $8,501,132.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. CWM LLC boosted its holdings in Barrett Business Services by 12,014.3% in the 2nd quarter. CWM LLC now owns 848 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 841 shares during the period. Amalgamated Bank boosted its holdings in Barrett Business Services by 300.0% in the 2nd quarter. Amalgamated Bank now owns 936 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 702 shares during the period. Huntington National Bank bought a new stake in shares of Barrett Business Services during the 3rd quarter worth $39,000. USA Financial Formulas bought a new stake in shares of Barrett Business Services during the 3rd quarter worth $60,000. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Barrett Business Services by 415.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,906 shares of the business services provider’s stock worth $95,000 after acquiring an additional 2,342 shares during the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

About Barrett Business Services

Barrett Business Services, Inc provides business management solutions for small and mid-sized companies in the United States. The company develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry.