Barrett Business Services, Inc. to Issue Quarterly Dividend of $0.08 (NASDAQ:BBSI)

Barrett Business Services, Inc. (NASDAQ:BBSI) declared a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Stockholders of record on Friday, November 22nd will be paid a dividend of 0.08 per share by the business services provider on Friday, December 6th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date is Friday, November 22nd.

Barrett Business Services has a payout ratio of 14.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Barrett Business Services to earn $2.21 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 14.5%.

Barrett Business Services Stock Down 0.6 %

BBSI traded down $0.23 during midday trading on Friday, hitting $40.96. 17,351 shares of the company traded hands, compared to its average volume of 135,430. The company’s 50-day moving average is $36.81 and its 200 day moving average is $34.47. The firm has a market capitalization of $1.07 billion, a PE ratio of 22.57, a price-to-earnings-growth ratio of 1.23 and a beta of 1.39. Barrett Business Services has a 52 week low of $25.58 and a 52 week high of $41.23.

Insider Activity at Barrett Business Services

In other Barrett Business Services news, CEO Gary Kramer sold 34,288 shares of the firm’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 transaction of $1,201,794.40. Following the sale, the chief executive officer now owns 242,543 shares in the company, valued at approximately $8,501,132.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

BBSI has been the topic of a number of research analyst reports. Barrington Research increased their price objective on shares of Barrett Business Services from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday. Roth Mkm raised their price target on Barrett Business Services from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday.

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.