Huntington National Bank Takes Position in Barrett Business Services, Inc. (NASDAQ:BBSI)

Huntington National Bank purchased a new position in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,040 shares of the business services provider’s stock, valued at approximately $39,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. CWM LLC increased its position in Barrett Business Services by 12,014.3% in the 2nd quarter. CWM LLC now owns 848 shares of the business services provider’s stock worth $28,000 after purchasing an additional 841 shares during the last quarter. Amalgamated Bank increased its holdings in Barrett Business Services by 300.0% in the second quarter. Amalgamated Bank now owns 936 shares of the business services provider’s stock worth $31,000 after buying an additional 702 shares during the last quarter. USA Financial Formulas bought a new position in Barrett Business Services during the third quarter valued at approximately $60,000. Nisa Investment Advisors LLC lifted its stake in Barrett Business Services by 415.2% in the second quarter. Nisa Investment Advisors LLC now owns 2,906 shares of the business services provider’s stock valued at $95,000 after acquiring an additional 2,342 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Barrett Business Services by 300.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,280 shares of the business services provider’s stock worth $107,000 after acquiring an additional 2,460 shares in the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

Barrett Business Services Trading Up 0.4 %

NASDAQ BBSI opened at $41.61 on Wednesday. Barrett Business Services, Inc. has a 1 year low of $26.60 and a 1 year high of $43.29. The company has a fifty day simple moving average of $37.83 and a 200 day simple moving average of $35.16. The company has a market cap of $1.08 billion, a P/E ratio of 21.96, a P/E/G ratio of 1.39 and a beta of 1.39.

Barrett Business Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Friday, November 22nd. Barrett Business Services’s dividend payout ratio (DPR) is 16.89%.

Analysts Set New Price Targets

BBSI has been the topic of a number of recent research reports. StockNews.com upgraded shares of Barrett Business Services from a “hold” rating to a “buy” rating in a report on Tuesday. Barrington Research raised their target price on Barrett Business Services from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Roth Mkm upped 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, November 7th.

Insider Activity

In related news, Director Joseph Stephen Clabby bought 1,635 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were acquired at an average price of $43.01 per share, with a total value of $70,321.35. Following the completion of the transaction, the director now owns 11,327 shares of the company’s stock, valued at $487,174.27. The trade was a 16.87 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas J. Carley sold 4,584 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $41.24, for a total transaction of $189,044.16. Following the completion of the sale, the director now directly owns 91,628 shares of the company’s stock, valued at approximately $3,778,738.72. This trade represents a 4.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by company insiders.

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.