Barrett Business Services, Inc. (NASDAQ:BBSI – Get Free Report) announced a quarterly dividend on Wednesday, July 31st, Zacks reports. Stockholders of record on Friday, August 16th will be given a dividend of 0.08 per share by the business services provider on Friday, August 30th. This represents a $0.32 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Friday, August 16th. This is a boost from Barrett Business Services’s previous quarterly dividend of $0.08.
Barrett Business Services has a dividend payout ratio of 14.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Barrett Business Services to earn $2.19 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 14.6%.
Barrett Business Services Trading Down 1.9 %
Shares of BBSI traded down $0.69 during mid-day trading on Friday, hitting $35.97. The company’s stock had a trading volume of 96,081 shares, compared to its average volume of 137,961. The firm has a 50-day simple moving average of $33.49 and a 200 day simple moving average of $31.11. The firm has a market capitalization of $941.33 million, a P/E ratio of 19.75, a P/E/G ratio of 1.31 and a beta of 1.38. Barrett Business Services has a 1-year low of $21.59 and a 1-year high of $37.00.
Insiders Place Their Bets
In other Barrett Business Services news, Director Thomas B. Cusick sold 2,400 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $33.01, for a total transaction of $79,230.00. Following the completion of the transaction, the director now owns 26,192 shares of the company’s stock, valued at $864,663.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.70% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on BBSI shares. Barrington Research raised their price objective on Barrett Business Services from $35.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday. StockNews.com downgraded Barrett Business Services from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 29th. Sidoti downgraded Barrett Business Services from a “buy” rating to a “neutral” rating and set a $35.00 price objective for the company. in a research note on Wednesday, June 5th. Finally, Roth Mkm raised their price objective on Barrett Business Services from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday.
Check Out Our Latest Stock Analysis on Barrett Business Services
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.
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