Blue Foundry Bancorp (NASDAQ:BLFY) Issues Earnings Results, Misses Estimates By $0.08 EPS

Key Points

• Earnings miss: Blue Foundry reported EPS of ($0.18), missing the consensus ($0.10) by $0.08, although revenue topped estimates at $13.28M versus $12.85M; the company showed a negative return on equity (2.84%) and net margin (-9.82%).
• Shares jumped about 3.5% to $13.24 on heavy volume (717,911 shares) despite the miss; the company has a market cap of ~$274.9M and a negative P/E (~-28.8), with 50-/200-day moving averages of $13.40/$11.42.
• Analyst and market sentiment is bearish — Weiss Ratings reissued a "sell (d-)" and MarketBeat shows a consensus "Sell" — even as institutional investors (e.g., Glazer Capital, First Trust) have recently added sizable positions, taking institutional ownership to roughly 56.5%.

Blue Foundry Bancorp (NASDAQ:BLFY - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.08), FiscalAI reports. Blue Foundry Bancorp had a negative return on equity of 2.84% and a negative net margin of 9.82%.The company had revenue of $13.28 million for the quarter, compared to analyst estimates of $12.85 million.

Blue Foundry Bancorp Stock Up 3.5%

Shares of NASDAQ:BLFY traded up $0.45 during midday trading on Tuesday, hitting $13.24. 717,911 shares of the company's stock were exchanged, compared to its average volume of 236,992. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a 50 day moving average price of $13.40 and a 200-day moving average price of $11.42. The company has a market cap of $274.86 million, a PE ratio of -28.78 and a beta of 0.55. Blue Foundry Bancorp has a 12 month low of $7.61 and a 12 month high of $14.74.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of Blue Foundry Bancorp in a research note on Friday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Blue Foundry Bancorp presently has a consensus rating of "Sell".

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Glazer Capital LLC purchased a new position in Blue Foundry Bancorp during the 4th quarter valued at about $11,945,000. First Trust Capital Management L.P. purchased a new stake in Blue Foundry Bancorp in the 4th quarter worth approximately $7,486,000. Arrowstreet Capital Limited Partnership bought a new position in Blue Foundry Bancorp in the 2nd quarter valued at $1,290,000. Tudor Investment Corp ET AL bought a new position in Blue Foundry Bancorp in the 4th quarter valued at $1,209,000. Finally, Trexquant Investment LP grew its position in shares of Blue Foundry Bancorp by 118.9% during the 4th quarter. Trexquant Investment LP now owns 137,014 shares of the company's stock valued at $1,703,000 after purchasing an additional 74,433 shares in the last quarter. 56.52% of the stock is currently owned by hedge funds and other institutional investors.

Blue Foundry Bancorp Company Profile

Blue Foundry Bancorp, Inc NASDAQ: BLFY is a bank holding company headquartered in Paramus, New Jersey, serving the Greater New York metropolitan area. Through its wholly owned subsidiary, Blue Foundry Bank, the company offers a full suite of deposit products, including personal and business checking and savings accounts, certificates of deposit, and a robust online and mobile banking platform.

In addition to deposit accounts, Blue Foundry Bancorp provides a range of lending solutions designed for both individual and commercial clients.

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