Blue Foundry Bancorp (NASDAQ:BLFY) Trading Down 0.2% - Should You Sell?

Key Points

• Blue Foundry Bancorp's shares declined by 0.2% to $8.58, with trading volume significantly increasing by 142% compared to the average session volume.
• The company reported $12.05 million in revenue for the last quarter, exceeding analysts' expectations, while posting a negative net margin of 12.49%.
• Recent insider activity includes Director Mirella Lang selling 4,520 shares at an average price of $8.75, reducing her ownership by 9.31%.

Blue Foundry Bancorp (NASDAQ:BLFY - Get Free Report) shares traded down 0.2% on Wednesday . The stock traded as low as $8.38 and last traded at $8.58. 125,002 shares traded hands during trading, an increase of 142% from the average session volume of 51,606 shares. The stock had previously closed at $8.60.

Blue Foundry Bancorp Price Performance

The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.02. The firm's fifty day moving average price is $9.09 and its two-hundred day moving average price is $9.35. The stock has a market capitalization of $185.61 million, a PE ratio of -15.54 and a beta of 0.60.

Blue Foundry Bancorp (NASDAQ:BLFY - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.01. The firm had revenue of $12.05 million during the quarter, compared to analysts' expectations of $11.80 million. Blue Foundry Bancorp had a negative net margin of 12.49% and a negative return on equity of 3.42%. On average, equities analysts predict that Blue Foundry Bancorp will post -0.47 earnings per share for the current year.

Insider Transactions at Blue Foundry Bancorp

In other news, Director Mirella Lang sold 4,520 shares of the stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $8.75, for a total value of $39,550.00. Following the sale, the director owned 44,028 shares of the company's stock, valued at approximately $385,245. This represents a 9.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.34% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Blue Foundry Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its position in Blue Foundry Bancorp by 63.5% during the 4th quarter. JPMorgan Chase & Co. now owns 114,782 shares of the company's stock worth $1,126,000 after buying an additional 44,597 shares during the last quarter. Trexquant Investment LP increased its holdings in shares of Blue Foundry Bancorp by 109.0% during the 4th quarter. Trexquant Investment LP now owns 32,251 shares of the company's stock valued at $316,000 after purchasing an additional 16,817 shares in the last quarter. Wells Fargo & Company MN grew its stake in Blue Foundry Bancorp by 22.7% in the 4th quarter. Wells Fargo & Company MN now owns 12,331 shares of the company's stock valued at $121,000 after acquiring an additional 2,284 shares during the period. First Trust Advisors LP acquired a new stake in Blue Foundry Bancorp during the 4th quarter worth $138,000. Finally, Dimensional Fund Advisors LP boosted its stake in Blue Foundry Bancorp by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 936,971 shares of the company's stock worth $9,192,000 after buying an additional 21,716 shares during the period. 56.52% of the stock is owned by hedge funds and other institutional investors.

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.