Barrett Business Services, Inc. $BBSI Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its position in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) by 26.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,309 shares of the business services provider’s stock after buying an additional 482 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Barrett Business Services were worth $95,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Deutsche Bank AG boosted its position in Barrett Business Services by 43.3% during the fourth quarter. Deutsche Bank AG now owns 27,831 shares of the business services provider’s stock worth $1,209,000 after acquiring an additional 8,403 shares during the last quarter. Two Sigma Investments LP purchased a new stake in shares of Barrett Business Services in the fourth quarter valued at $353,000. GAMMA Investing LLC grew its position in shares of Barrett Business Services by 5,807.9% in the first quarter. GAMMA Investing LLC now owns 11,934 shares of the business services provider’s stock valued at $491,000 after purchasing an additional 11,732 shares during the period. Brio Consultants LLC acquired a new position in Barrett Business Services in the first quarter valued at $284,000. Finally, Bank of America Corp DE lifted its position in Barrett Business Services by 1.5% during the fourth quarter. Bank of America Corp DE now owns 78,617 shares of the business services provider’s stock worth $3,415,000 after buying an additional 1,177 shares during the period. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on BBSI shares. Barrington Research lifted their price target on Barrett Business Services from $45.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Wall Street Zen raised shares of Barrett Business Services from a “hold” rating to a “buy” rating in a research report on Saturday, August 16th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $47.00.

Insider Buying and Selling at Barrett Business Services

In other Barrett Business Services news, Director Thomas J. Carley sold 12,646 shares of the business’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $47.62, for a total transaction of $602,202.52. Following the transaction, the director owned 94,692 shares in the company, valued at $4,509,233.04. The trade was a 11.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Thomas B. Cusick sold 3,064 shares of the company’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $47.64, for a total value of $145,968.96. Following the completion of the sale, the director directly owned 27,776 shares of the company’s stock, valued at $1,323,248.64. The trade was a 9.94% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,417 shares of company stock worth $1,628,361. Insiders own 4.10% of the company’s stock.

Barrett Business Services Stock Down 0.1%

Shares of NASDAQ:BBSI opened at $46.37 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.25 and a current ratio of 1.25. Barrett Business Services, Inc. has a 1 year low of $34.43 and a 1 year high of $48.48. The stock has a market capitalization of $1.19 billion, a P/E ratio of 22.84, a PEG ratio of 1.51 and a beta of 1.02. The stock has a 50-day simple moving average of $43.97 and a 200-day simple moving average of $42.01.

Barrett Business Services (NASDAQ:BBSI) last posted its quarterly earnings results on Wednesday, August 6th. The business services provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.65 by $0.05. The firm had revenue of $307.70 million for the quarter, compared to analyst estimates of $299.95 million. Barrett Business Services had a net margin of 4.49% and a return on equity of 24.59%. Barrett Business Services’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 earnings per share. Equities analysts forecast that Barrett Business Services, Inc. will post 2 earnings per share for the current year.

Barrett Business Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 22nd will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, August 22nd. This represents a $0.32 annualized dividend and a dividend yield of 0.7%. Barrett Business Services’s payout ratio is presently 15.76%.

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.