Barrett Business Services, Inc. (BBSI) to Issue Quarterly Dividend of $0.08 on December 6th

Barrett Business Services, Inc. (NASDAQ:BBSI) declared a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Shareholders 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 of this dividend is Friday, November 22nd.

Barrett Business Services has a dividend payout ratio of 14.5% indicating that its dividend is sufficiently covered by earnings. 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 Performance

Shares of NASDAQ:BBSI traded up $0.06 during midday trading on Friday, hitting $41.25. The company’s stock had a trading volume of 41,340 shares, compared to its average volume of 135,540. The business’s 50 day simple moving average is $36.81 and its 200 day simple moving average is $34.47. The company has a market cap of $1.08 billion, a P/E ratio of 22.57, a price-to-earnings-growth ratio of 1.23 and a beta of 1.39. Barrett Business Services has a 12-month low of $25.58 and a 12-month high of $41.48.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Roth Mkm upped their target price on shares of Barrett Business Services from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday. Barrington Research raised 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 note on Thursday.

Insiders Place Their Bets

In other news, CEO Gary Kramer sold 34,288 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $35.05, for a total value of $1,201,794.40. Following the transaction, the chief executive officer now owns 242,543 shares in the company, valued at approximately $8,501,132.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.70% of the stock is owned by company insiders.

Barrett Business Services Company 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.