Hsbc Holdings PLC Has $247,000 Position in Barrett Business Services, Inc. (NASDAQ:BBSI)

Hsbc Holdings PLC boosted its stake in Barrett Business Services, Inc. (NASDAQ:BBSI) by 256.9% in the second quarter, HoldingsChannel reports. The firm owned 7,528 shares of the business services provider’s stock after buying an additional 5,419 shares during the period. Hsbc Holdings PLC’s holdings in Barrett Business Services were worth $247,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. CWM LLC boosted its position in shares of Barrett Business Services by 12,014.3% during the 2nd quarter. CWM LLC now owns 848 shares of the business services provider’s stock worth $28,000 after purchasing an additional 841 shares in the last quarter. Amalgamated Bank boosted its holdings in Barrett Business Services by 300.0% in the second quarter. Amalgamated Bank now owns 936 shares of the business services provider’s stock worth $31,000 after acquiring an additional 702 shares in the last quarter. Virtu Financial LLC acquired a new stake in Barrett Business Services in the first quarter valued at approximately $227,000. Aristides Capital LLC bought a new stake in shares of Barrett Business Services during the first quarter valued at approximately $277,000. Finally, Lazard Asset Management LLC raised its position in shares of Barrett Business Services by 64.4% during the first quarter. Lazard Asset Management LLC now owns 2,546 shares of the business services provider’s stock worth $322,000 after purchasing an additional 997 shares during the period. 86.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BBSI has been the subject of a number of recent research reports. Barrington Research boosted their price target 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. Roth Mkm boosted their target price on shares of Barrett Business Services from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st.

Barrett Business Services Trading Up 1.3 %

Shares of Barrett Business Services stock opened at $36.89 on Friday. The company has a market capitalization of $965.30 million, a P/E ratio of 20.27, a price-to-earnings-growth ratio of 1.23 and a beta of 1.38. The stock has a fifty day simple moving average of $35.94 and a 200 day simple moving average of $33.39. Barrett Business Services, Inc. has a 12-month low of $21.59 and a 12-month high of $37.81.

Barrett Business Services (NASDAQ:BBSI) last announced its earnings results on Wednesday, July 31st. The business services provider reported $0.62 EPS for the quarter, beating the consensus estimate 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 company had revenue of $279.60 million during the quarter, compared to the consensus estimate of $273.13 million. During the same quarter in the prior year, the company posted $0.62 earnings per share. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, analysts predict 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. Stockholders of record on Friday, August 16th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Friday, August 16th. This is an increase from Barrett Business Services’s previous quarterly dividend of $0.08. Barrett Business Services’s payout ratio is presently 17.58%.

Insider Activity

In related news, CEO Gary Kramer sold 34,288 shares of Barrett Business Services stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $35.05, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 35,133 shares of company stock valued at $1,231,357 over the last three months. Corporate insiders own 3.70% of the company’s stock.

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.