Blue Foundry Bancorp (NASDAQ:BLFY) Shares Down 2.2% - Time to Sell?

Key Points

• Shares fell about 2.2% to $12.43 midday, with volume at ~148,457 shares—roughly 49% below the stock's average session volume.
• Analyst consensus is a "Sell"; Weiss Ratings recently reiterated a "sell (d-)" while Wall Street Zen upgraded the name to a "hold."
• Blue Foundry is a small bank with a market cap of ~$258.05M, a negative P/E (-27.02), debt-to-equity around 0.96, and roughly 56.5% institutional ownership.

Shares of Blue Foundry Bancorp (NASDAQ:BLFY - Get Free Report) traded down 2.2% during mid-day trading on Wednesday . The company traded as low as $12.40 and last traded at $12.43. 148,457 shares traded hands during trading, a decline of 49% from the average session volume of 293,901 shares. The stock had previously closed at $12.71.

Analyst Ratings Changes

BLFY has been the topic of a number of analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Blue Foundry Bancorp in a research note on Monday, December 29th. Wall Street Zen upgraded Blue Foundry Bancorp from a "sell" rating to a "hold" rating in a research report on Tuesday, November 25th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Blue Foundry Bancorp presently has a consensus rating of "Sell".

Blue Foundry Bancorp Stock Down 2.2%

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 firm's 50-day simple moving average is $13.35 and its two-hundred day simple moving average is $11.18. The company has a market capitalization of $258.05 million, a price-to-earnings ratio of -27.02 and a beta of 0.55.

Institutional Investors Weigh In On Blue Foundry Bancorp

Institutional investors and hedge funds have recently modified their holdings of the company. Versant Capital Management Inc raised its holdings in Blue Foundry Bancorp by 181.2% during the third quarter. Versant Capital Management Inc now owns 3,074 shares of the company's stock worth $28,000 after purchasing an additional 1,981 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Blue Foundry Bancorp by 72.8% in the third quarter. BNP Paribas Financial Markets now owns 4,066 shares of the company's stock valued at $37,000 after purchasing an additional 1,713 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Blue Foundry Bancorp by 257.8% in the second quarter. Tower Research Capital LLC TRC now owns 5,156 shares of the company's stock valued at $49,000 after purchasing an additional 3,715 shares during the last quarter. Royal Bank of Canada increased its position in shares of Blue Foundry Bancorp by 19.3% in the fourth quarter. Royal Bank of Canada now owns 4,605 shares of the company's stock valued at $57,000 after buying an additional 744 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Blue Foundry Bancorp by 38.6% in the second quarter. PNC Financial Services Group Inc. now owns 9,824 shares of the company's stock valued at $94,000 after buying an additional 2,736 shares in the last quarter. Institutional investors and hedge funds own 56.52% of the company's stock.

About Blue Foundry Bancorp

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.