Bank of America Corp DE Acquires 1,177 Shares of Barrett Business Services, Inc. (NASDAQ:BBSI)

Bank of America Corp DE grew its holdings in Barrett Business Services, Inc. (NASDAQ:BBSI) by 1.5% during the 4th quarter, Holdings Channel reports. The firm owned 78,617 shares of the business services provider’s stock after purchasing an additional 1,177 shares during the period. Bank of America Corp DE’s holdings in Barrett Business Services were worth $3,415,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Mawer Investment Management Ltd. boosted its stake in shares of Barrett Business Services by 15.1% in the 4th quarter. Mawer Investment Management Ltd. now owns 2,110,550 shares of the business services provider’s stock valued at $91,682,000 after purchasing an additional 276,098 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of Barrett Business Services by 272.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,631,644 shares of the business services provider’s stock valued at $70,879,000 after acquiring an additional 1,193,839 shares during the period. Northern Trust Corp raised its position in shares of Barrett Business Services by 4.2% in the 4th quarter. Northern Trust Corp now owns 393,267 shares of the business services provider’s stock valued at $17,084,000 after acquiring an additional 15,900 shares during the period. Tieton Capital Management LLC raised its position in shares of Barrett Business Services by 23.2% in the 4th quarter. Tieton Capital Management LLC now owns 251,628 shares of the business services provider’s stock valued at $10,931,000 after acquiring an additional 47,447 shares during the period. Finally, Hillsdale Investment Management Inc. raised its position in shares of Barrett Business Services by 0.5% in the 4th quarter. Hillsdale Investment Management Inc. now owns 164,780 shares of the business services provider’s stock valued at $7,158,000 after acquiring an additional 800 shares during the period. Institutional investors own 86.76% of the company’s stock.

Barrett Business Services Price Performance

Shares of NASDAQ:BBSI opened at $41.39 on Friday. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 21.84, a P/E/G ratio of 1.21 and a beta of 1.02. The firm’s 50 day simple moving average is $40.84 and its 200 day simple moving average is $41.75. Barrett Business Services, Inc. has a fifty-two week low of $31.77 and a fifty-two week high of $44.97.

Barrett Business Services (NASDAQ:BBSI) last announced its earnings results on Wednesday, May 7th. The business services provider reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.09. The firm had revenue of $292.60 million for the quarter, compared to the consensus estimate of $285.91 million. Barrett Business Services had a net margin of 4.55% and a return on equity of 25.28%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period last year, the company posted ($0.01) EPS. Equities research analysts expect that Barrett Business Services, Inc. will post 2 earnings per share for the current year.

Barrett Business Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, May 23rd. This represents a $0.32 annualized dividend and a yield of 0.77%. Barrett Business Services’s dividend payout ratio (DPR) is currently 16.41%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BBSI. Wall Street Zen downgraded shares of Barrett Business Services from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 16th. Barrington Research reiterated an “outperform” rating and issued a $45.00 price target on shares of Barrett Business Services in a research report on Tuesday, May 6th.

Insiders Place Their Bets

In other Barrett Business Services news, Director Thomas J. Carley sold 12,354 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $42.60, for a total transaction of $526,280.40. Following the sale, the director now directly owns 91,628 shares in the company, valued at approximately $3,903,352.80. This trade represents a 11.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.70% of the company’s stock.

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.