Blue Foundry Bancorp (NASDAQ:BLFY) Trading Down 3.4% - Here's Why

Key Points

• Blue Foundry Bancorp's stock fell 3.4% to $8.62, with volume slightly increasing to 53,226 shares traded.
• The company received a "sell (d-)" rating from Weiss Ratings, with a consensus target price of $10.00 and overall rating of "Reduce."
• In its latest earnings report, Blue Foundry Bancorp reported ($0.10) earnings per share, exceeding estimates and generating revenue of $12.05 million.

Blue Foundry Bancorp (NASDAQ:BLFY - Get Free Report) traded down 3.4% on Thursday . The stock traded as low as $8.56 and last traded at $8.62. 53,226 shares were traded during trading, an increase of 1% from the average session volume of 52,936 shares. The stock had previously closed at $8.92.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Blue Foundry Bancorp in a report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Blue Foundry Bancorp has a consensus rating of "Reduce" and a consensus target price of $10.00.

Blue Foundry Bancorp Trading Down 3.4%

The company has a 50-day moving average price of $9.14 and a 200-day moving average price of $9.19. The firm has a market capitalization of $185.33 million, a price-to-earnings ratio of -15.67 and a beta of 0.60. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.21 and a current ratio of 1.21.

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 (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.01. The business 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 3.45% and a negative net margin of 12.49%. As a group, research analysts forecast that Blue Foundry Bancorp will post -0.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Cerity Partners LLC boosted its position in shares of Blue Foundry Bancorp by 7.1% in the 2nd quarter. Cerity Partners LLC now owns 24,621 shares of the company's stock valued at $236,000 after purchasing an additional 1,628 shares during the period. Geode Capital Management LLC boosted its position in shares of Blue Foundry Bancorp by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 431,677 shares of the company's stock valued at $4,132,000 after purchasing an additional 1,780 shares during the period. Bank of America Corp DE boosted its position in shares of Blue Foundry Bancorp by 11.0% in the 2nd quarter. Bank of America Corp DE now owns 20,908 shares of the company's stock valued at $200,000 after purchasing an additional 2,069 shares during the period. PDT Partners LLC boosted its position in shares of Blue Foundry Bancorp by 18.9% in the 1st quarter. PDT Partners LLC now owns 14,959 shares of the company's stock valued at $138,000 after purchasing an additional 2,380 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of Blue Foundry Bancorp by 56.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,088 shares of the company's stock valued at $65,000 after purchasing an additional 2,557 shares during the period. 56.52% of the stock is owned by institutional investors and hedge funds.

Blue Foundry Bancorp Company Profile

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.

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