Blue Foundry Bancorp (NASDAQ:BLFY) Announces Earnings Results

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

Blue Foundry Bancorp Stock Down 1.9%

BLFY traded down $0.16 during midday trading on Friday, hitting $8.39. The company had a trading volume of 97,036 shares, compared to its average volume of 45,150. The stock's 50 day moving average price is $9.16 and its 200 day moving average price is $9.38. Blue Foundry Bancorp has a 52 week low of $8.23 and a 52 week high of $11.38. The company has a market capitalization of $182.23 million, a price-to-earnings ratio of -15.25 and a beta of 0.60. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.02.

Insider Activity

In related news, Director Mirella Lang sold 4,520 shares of the business's stock in a transaction dated 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 of the company's stock, valued at $385,245. The trade was a 9.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 5.34% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Blue Foundry Bancorp stock. Jane Street Group LLC increased its position in Blue Foundry Bancorp (NASDAQ:BLFY - Free Report) by 147.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,120 shares of the company's stock after purchasing an additional 20,339 shares during the period. Jane Street Group LLC owned approximately 0.16% of Blue Foundry Bancorp worth $314,000 at the end of the most recent quarter. Institutional investors and hedge funds own 56.52% of the company's stock.

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.