Barrett Business Services, Inc. (NASDAQ:BBSI) Stock Position Raised by Amalgamated Bank

Amalgamated Bank lifted its holdings in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) by 300.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 936 shares of the business services provider’s stock after buying an additional 702 shares during the period. Amalgamated Bank’s holdings in Barrett Business Services were worth $31,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. State of New Jersey Common Pension Fund D boosted its stake in Barrett Business Services by 155.7% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 59,324 shares of the business services provider’s stock valued at $1,944,000 after purchasing an additional 36,120 shares during the period. Janney Montgomery Scott LLC acquired a new position in Barrett Business Services during the 4th quarter valued at about $563,000. Principal Financial Group Inc. boosted its stake in Barrett Business Services by 28.4% during the 4th quarter. Principal Financial Group Inc. now owns 3,961 shares of the business services provider’s stock valued at $459,000 after purchasing an additional 875 shares during the period. Rhumbline Advisers boosted its stake in Barrett Business Services by 306.3% during the 2nd quarter. Rhumbline Advisers now owns 39,736 shares of the business services provider’s stock valued at $1,302,000 after purchasing an additional 29,956 shares during the period. Finally, American Century Companies Inc. boosted its stake in Barrett Business Services by 155.9% during the 2nd quarter. American Century Companies Inc. now owns 535,896 shares of the business services provider’s stock valued at $17,561,000 after purchasing an additional 326,502 shares during the period. Institutional investors own 86.76% of the company’s stock.

Insider Buying and Selling

In related news, CEO Gary Kramer sold 34,288 shares of the business’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 value of $1,201,794.40. Following the sale, the chief executive officer now directly owns 242,543 shares in the company, valued at approximately $8,501,132.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 35,133 shares of company stock worth $1,231,357 in the last ninety days. 3.70% of the stock is currently owned by corporate insiders.

Barrett Business Services Trading Down 0.6 %

Shares of NASDAQ:BBSI opened at $37.29 on Wednesday. The company has a 50 day moving average of $35.84 and a 200-day moving average of $33.25. The firm has a market cap of $975.77 million, a P/E ratio of 20.49, a P/E/G ratio of 1.23 and a beta of 1.38. Barrett Business Services, Inc. has a twelve month low of $21.59 and a twelve month high of $37.81.

Barrett Business Services (NASDAQ:BBSI) last released its earnings results on Wednesday, July 31st. The business services provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Barrett Business Services had a net margin of 4.50% and a return on equity of 25.69%. The business had revenue of $279.60 million for the quarter, compared to the consensus estimate of $273.13 million. During the same period in the previous year, the firm earned $0.62 EPS. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. Equities research analysts forecast that Barrett Business Services, Inc. will post 1.99 EPS for the current year.

Barrett Business Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a $0.08 dividend. This is an increase from Barrett Business Services’s previous quarterly dividend of $0.08. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date was Friday, August 16th. Barrett Business Services’s payout ratio is presently 17.58%.

Analysts Set New Price Targets

A number of research firms have issued reports on BBSI. Roth Mkm boosted their target price on shares of Barrett Business Services from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Barrington Research boosted their target price on shares of Barrett Business Services from $35.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Finally, Sidoti lowered shares of Barrett Business Services from a “buy” rating to a “neutral” rating and set a $35.00 price target for the company. in a research note on Wednesday, June 5th.

Barrett Business Services 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.