Barrett Business Services, Inc. (NASDAQ:BBSI) declared a quarterly dividend on Monday, May 6th, Wall Street Journal reports. Shareholders of record on Friday, May 17th will be paid a dividend of 0.25 per share by the business services provider on Friday, May 31st. This represents a $1.00 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Thursday, May 16th.
Barrett Business Services has raised its dividend payment by an average of 4.4% per year over the last three years. Barrett Business Services has a payout ratio of 23.4% meaning its dividend is sufficiently covered by earnings.
Shares of Barrett Business Services stock opened at $75.68 on Friday. The stock has a market capitalization of $560.79 million, a price-to-earnings ratio of 15.20 and a beta of 0.82. The company has a quick ratio of 0.98, a current ratio of 0.94 and a debt-to-equity ratio of 0.19. Barrett Business Services has a one year low of $53.10 and a one year high of $98.76.
A number of brokerages have commented on BBSI. BidaskClub upgraded shares of Barrett Business Services from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 6th. Zacks Investment Research upgraded shares of Barrett Business Services from a “hold” rating to a “strong-buy” rating and set a $92.00 target price for the company in a report on Monday, March 4th. Finally, Roth Capital boosted their target price on shares of Barrett Business Services from $100.00 to $109.00 and gave the stock a “buy” rating in a report on Thursday, February 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Barrett Business Services currently has a consensus rating of “Buy” and a consensus price target of $97.00.
In other news, Director Thomas J. Carley sold 5,561 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $81.65, for a total transaction of $454,055.65. Following the transaction, the director now owns 28,542 shares in the company, valued at $2,330,454.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Anthony Meeker sold 2,332 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $76.49, for a total transaction of $178,374.68. Following the transaction, the director now owns 10,327 shares in the company, valued at approximately $789,912.23. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,572 shares of company stock worth $1,254,276. Corporate insiders own 6.60% of the company’s stock.
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About Barrett Business Services
Barrett Business Services, Inc provides business management solutions for small and mid-sized companies in the United States. It develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry. The company offers professional employer services under which it enters into a client services agreement to establish a co-employment relationship with each client company, assuming responsibility for payroll, payroll taxes, workers' compensation coverage, and other administration functions for the client's existing workforce.
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