Blue Foundry Bancorp (NASDAQ:BLFY) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Key Points

• Blue Foundry Bancorp reported a quarterly earnings per share (EPS) of ($0.10), beating expectations of ($0.11) by $0.01.
• The company's stock decreased by 1.4%, trading at $8.70 with a market capitalization of approximately $188.96 million.
• Institutional investors own 56.52% of Blue Foundry Bancorp, with Jane Street Group LLC significantly increasing its holdings by 147.6% in the first quarter.

Blue Foundry Bancorp (NASDAQ:BLFY - Get Free Report) issued its earnings results on Wednesday. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.01, Zacks reports. The company had revenue of $12.05 million during the quarter, compared to analysts' expectations of $11.80 million. Blue Foundry Bancorp had a negative return on equity of 3.42% and a negative net margin of 12.49%.

Blue Foundry Bancorp Trading Down 1.9%

NASDAQ:BLFY traded down $0.16 during trading hours on Friday, hitting $8.39. The company had a trading volume of 97,036 shares, compared to its average volume of 45,150. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.02. The company has a 50-day moving average of $9.16 and a 200 day moving average of $9.38. The company has a market cap of $182.23 million, a P/E ratio of -15.25 and a beta of 0.60. Blue Foundry Bancorp has a 1 year low of $8.23 and a 1 year high of $11.38.

Insider Transactions at Blue Foundry Bancorp

In other Blue Foundry Bancorp news, Director Mirella Lang sold 4,520 shares of the company's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $8.75, for a total value of $39,550.00. Following the completion of the sale, the director directly owned 44,028 shares in the company, valued at $385,245. This represents a 9.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.34% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Blue Foundry Bancorp

A hedge fund recently raised its stake in Blue Foundry Bancorp stock. Jane Street Group LLC lifted its holdings in shares of Blue Foundry Bancorp (NASDAQ:BLFY - Free Report) by 147.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,120 shares of the company's stock after purchasing an additional 20,339 shares during the quarter. Jane Street Group LLC owned about 0.16% of Blue Foundry Bancorp worth $314,000 as of its most recent filing with the Securities and Exchange Commission. 56.52% of the stock is currently owned by institutional investors and hedge funds.

About Blue Foundry Bancorp

Blue Foundry Bancorp operates as a bank holding company for Blue Foundry Bank, a savings bank that offers various banking products and services for individuals and businesses in the United States. The company offers saving, time, and non-interest bearing deposits; demand accounts; and loans, such as one-to-four family residential property, multi-family, residential real estate, non-residential real estate, consumer, construction, and commercial and industrial loans, as well as junior liens and home equity lines of credit.