JPMorgan Chase & Co. Has $9.18 Million Stock Holdings in Barrett Business Services, Inc. $BBSI

JPMorgan Chase & Co. decreased its holdings in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) by 30.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 207,184 shares of the business services provider’s stock after selling 92,040 shares during the quarter. JPMorgan Chase & Co.’s holdings in Barrett Business Services were worth $9,182,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Tripletail Wealth Management LLC purchased a new position in Barrett Business Services during the 3rd quarter valued at about $34,000. Farther Finance Advisors LLC boosted its holdings in shares of Barrett Business Services by 1,388.3% during the third quarter. Farther Finance Advisors LLC now owns 893 shares of the business services provider’s stock worth $40,000 after purchasing an additional 833 shares during the period. AlphaQuest LLC purchased a new position in Barrett Business Services during the third quarter valued at approximately $54,000. State of Alaska Department of Revenue purchased a new position in Barrett Business Services during the third quarter valued at approximately $66,000. Finally, NewEdge Advisors LLC increased its stake in Barrett Business Services by 270.2% in the 2nd quarter. NewEdge Advisors LLC now owns 1,999 shares of the business services provider’s stock valued at $83,000 after buying an additional 1,459 shares during the period. 86.76% of the stock is owned by hedge funds and other institutional investors.

Barrett Business Services Trading Down 0.9%

Shares of NASDAQ:BBSI opened at $28.97 on Friday. The stock has a market capitalization of $730.04 million, a PE ratio of 13.86, a P/E/G ratio of 1.02 and a beta of 1.02. Barrett Business Services, Inc. has a 1 year low of $25.33 and a 1 year high of $49.65. The firm has a fifty day moving average price of $35.00 and a 200 day moving average price of $39.01.

Barrett Business Services (NASDAQ:BBSI) last posted its earnings results on Wednesday, February 25th. The business services provider reported $0.64 earnings per share for the quarter, meeting the consensus estimate of $0.64. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $323.43 million. Barrett Business Services had a return on equity of 23.67% and a net margin of 4.39%.The business’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $0.63 earnings per share. On average, sell-side analysts forecast that Barrett Business Services, Inc. will post 2 earnings per share for the current fiscal year.

Barrett Business Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, March 13th. Barrett Business Services’s dividend payout ratio (DPR) is presently 15.31%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Barrington Research lowered their price target on shares of Barrett Business Services from $46.00 to $41.00 and set an “outperform” rating on the stock in a report on Thursday, February 26th. Zacks Research downgraded Barrett Business Services from a “hold” rating to a “strong sell” rating in a research note on Friday, February 27th. Roth Mkm dropped their target price on Barrett Business Services from $54.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Barrett Business Services in a research note on Monday, December 29th. Finally, CJS Securities upgraded Barrett Business Services to a “strong-buy” rating in a report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Barrett Business Services has an average rating of “Moderate Buy” and an average price target of $41.50.

Barrett Business Services Profile

Barrett Business Services, Inc (NASDAQ: BBSI) is a professional employer organization (PEO) headquartered in Northridge, California. Founded in 1971 by Barrett K. Levesque, the company provides comprehensive human resources outsourcing solutions to small and mid-sized businesses. Through its consultative model, Barrett Business Services helps clients streamline administrative processes, mitigate regulatory risk and focus on core operations.

The company’s core offerings include payroll administration, employee benefits management, workers’ compensation and risk management services.