Deutsche Bank AG Increases Stake in Barrett Business Services, Inc. $BBSI

Key Points

• Deutsche Bank AG increased its stake in Barrett Business Services by 80.1%, owning 50,122 shares valued at approximately $2.06 million as of its latest SEC filing.
• Barrett Business Services announced a quarterly dividend of $0.08 per share, reflecting an annualized yield of 0.7%, with the payment scheduled for September 5th.
• Barrett Business Services' earnings exceeded estimates, reporting $0.70 earnings per share and revenue growth of 10% year-over-year in its recent quarter.

Deutsche Bank AG raised its stake in shares of Barrett Business Services, Inc. (NASDAQ:BBSI - Free Report) by 80.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,122 shares of the business services provider's stock after buying an additional 22,291 shares during the quarter. Deutsche Bank AG owned about 0.20% of Barrett Business Services worth $2,063,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. PNC Financial Services Group Inc. grew its holdings in Barrett Business Services by 26.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,309 shares of the business services provider's stock valued at $95,000 after buying an additional 482 shares in the last quarter. US Bancorp DE grew its holdings in shares of Barrett Business Services by 3,939.3% in the first quarter. US Bancorp DE now owns 4,524 shares of the business services provider's stock valued at $186,000 after purchasing an additional 4,412 shares in the last quarter. Brio Consultants LLC purchased a new position in shares of Barrett Business Services in the first quarter valued at $284,000. Mackenzie Financial Corp grew its holdings in shares of Barrett Business Services by 4.1% in the first quarter. Mackenzie Financial Corp now owns 21,874 shares of the business services provider's stock valued at $900,000 after purchasing an additional 855 shares in the last quarter. Finally, GW&K Investment Management LLC grew its holdings in shares of Barrett Business Services by 2.1% in the first quarter. GW&K Investment Management LLC now owns 528,243 shares of the business services provider's stock valued at $21,737,000 after purchasing an additional 10,627 shares in the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

Barrett Business Services Stock Down 0.1%

Shares of BBSI opened at $46.37 on Thursday. The company has a market cap of $1.19 billion, a PE ratio of 22.84, a P/E/G ratio of 1.51 and a beta of 1.02. The business has a fifty day moving average of $43.97 and a 200 day moving average of $42.01. Barrett Business Services, Inc. has a 52-week low of $34.43 and a 52-week high of $48.48. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.35.

Barrett Business Services (NASDAQ:BBSI - Get Free Report) last released its earnings results on Wednesday, August 6th. The business services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. Barrett Business Services had a return on equity of 24.59% and a net margin of 4.49%.The business had revenue of $307.70 million during the quarter, compared to the consensus estimate of $299.95 million. During the same period last year, the company earned $0.62 earnings per share. The business's revenue for the quarter was up 10.0% compared to the same quarter last year. On average, sell-side analysts expect that Barrett Business Services, Inc. will post 2 EPS for the current year.

Barrett Business Services Dividend Announcement

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

Insider Buying and Selling

In other news, Director Anthony Meeker sold 7,380 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $42.14, for a total transaction of $310,993.20. Following the sale, the director owned 55,504 shares in the company, valued at approximately $2,338,938.56. The trade was a 11.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas B. Cusick sold 3,064 shares of the business'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 sale, the director owned 27,776 shares in the company, 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. Insiders have sold 36,417 shares of company stock worth $1,628,361 over the last ninety days. 4.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BBSI. Barrington Research raised their target price on shares of 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 report on Saturday, August 16th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Barrett Business Services presently has an average rating of "Buy" and an average price target of $47.00.

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.

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