Barrett Business Services, Inc. (NASDAQ:BBSI) Declares $0.08 Quarterly Dividend

Barrett Business Services, Inc. (NASDAQ:BBSI) announced a quarterly dividend on Monday, February 24th, Wall Street Journal reports. Stockholders of record on Friday, March 14th will be given a dividend of 0.08 per share by the business services provider on Friday, March 28th. This represents a $0.32 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend is Friday, March 14th.

Barrett Business Services has raised its dividend payment by an average of 1.1% per year over the last three years. Barrett Business Services has a dividend payout ratio of 12.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Barrett Business Services to earn $2.21 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 14.5%.

Barrett Business Services Stock Up 1.2 %

BBSI stock opened at $39.56 on Wednesday. Barrett Business Services has a 52-week low of $28.42 and a 52-week high of $44.97. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 20.88, a price-to-earnings-growth ratio of 1.21 and a beta of 1.31. The stock’s fifty day simple moving average is $42.12 and its 200-day simple moving average is $40.25.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BBSI shares. StockNews.com upgraded Barrett Business Services from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Barrington Research reissued an “outperform” rating and issued a $45.00 price objective on shares of Barrett Business Services in a research report on Wednesday, December 11th.

Barrett Business Services Company Profile

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.