Bank of New York Mellon Corp Trims Position in Barrett Business Services, Inc. (NASDAQ:BBSI)

Bank of New York Mellon Corp reduced its position in shares of Barrett Business Services, Inc. (NASDAQ:BBSI - Free Report) by 9.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 156,842 shares of the business services provider's stock after selling 15,616 shares during the quarter. Bank of New York Mellon Corp owned about 0.60% of Barrett Business Services worth $6,813,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC lifted its holdings in shares of Barrett Business Services by 42.9% in the 3rd quarter. Barclays PLC now owns 61,332 shares of the business services provider's stock valued at $2,300,000 after acquiring an additional 18,414 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Barrett Business Services by 19.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 546,510 shares of the business services provider's stock valued at $20,500,000 after purchasing an additional 88,350 shares during the last quarter. Mawer Investment Management Ltd. lifted its stake in shares of Barrett Business Services by 236.4% in the 3rd quarter. Mawer Investment Management Ltd. now owns 1,834,452 shares of the business services provider's stock valued at $68,810,000 after purchasing an additional 1,289,147 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Barrett Business Services by 4.8% in the 3rd quarter. Geode Capital Management LLC now owns 705,598 shares of the business services provider's stock worth $26,471,000 after purchasing an additional 32,632 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Barrett Business Services by 29.7% during the 3rd quarter. Principal Financial Group Inc. now owns 17,300 shares of the business services provider's stock valued at $649,000 after purchasing an additional 3,960 shares during the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

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Barrett Business Services Trading Up 2.7 %

Shares of BBSI traded up $1.06 during trading hours on Wednesday, hitting $40.92. The company had a trading volume of 83,674 shares, compared to its average volume of 129,346. The company has a market capitalization of $1.06 billion, a PE ratio of 21.59, a price-to-earnings-growth ratio of 1.21 and a beta of 1.31. Barrett Business Services, Inc. has a one year low of $28.42 and a one year high of $44.97. The company's fifty day moving average price is $41.77 and its two-hundred day moving average price is $40.40.

Barrett Business Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date is Friday, March 14th. Barrett Business Services's payout ratio is presently 16.08%.

Analyst Upgrades and Downgrades

Several research firms have commented on BBSI. StockNews.com raised shares of Barrett Business Services from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. Barrington Research reiterated an "outperform" rating and set a $45.00 price objective on shares of Barrett Business Services in a report on Wednesday, March 12th.

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.