T. Rowe Price Investment Management Inc. Acquires 59,081 Shares of Blue Foundry Bancorp $BLFY

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Blue Foundry Bancorp by 2.1%, owning approximately 13.15% of the company, which is valued at about $26.74 million.
• Shares of Blue Foundry Bancorp rose by 5.4%, with the stock currently trading around $9.36.
• The company reported revenue of $12.05 million for the last quarter, exceeding analysts’ expectations of $11.80 million, alongside an EPS of ($0.10).

T. Rowe Price Investment Management Inc. boosted its position in shares of Blue Foundry Bancorp (NASDAQ:BLFY - Free Report) by 2.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,905,977 shares of the company's stock after buying an additional 59,081 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 13.15% of Blue Foundry Bancorp worth $26,735,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in BLFY. BNP Paribas Financial Markets bought a new position in Blue Foundry Bancorp in the 4th quarter worth $27,000. PNC Financial Services Group Inc. raised its holdings in 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 worth $65,000 after purchasing an additional 2,557 shares in the last quarter. Quantinno Capital Management LP purchased a new stake in shares of Blue Foundry Bancorp in the 4th quarter worth about $108,000. Wells Fargo & Company MN grew its position in shares of Blue Foundry Bancorp by 22.7% in the 4th quarter. Wells Fargo & Company MN now owns 12,331 shares of the company's stock worth $121,000 after buying an additional 2,284 shares during the period. Finally, Two Sigma Advisers LP grew its position in shares of Blue Foundry Bancorp by 16.8% in the 4th quarter. Two Sigma Advisers LP now owns 12,500 shares of the company's stock worth $123,000 after buying an additional 1,800 shares during the period. 56.52% of the stock is currently owned by institutional investors.

Blue Foundry Bancorp Stock Up 0.6%

Shares of NASDAQ:BLFY traded up $0.06 during midday trading on Wednesday, reaching $9.43. The company's stock had a trading volume of 66,470 shares, compared to its average volume of 51,726. The firm has a 50 day moving average of $9.13 and a 200-day moving average of $9.29. The firm has a market capitalization of $202.75 million, a P/E ratio of -17.15 and a beta of 0.60. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.07. Blue Foundry Bancorp has a 12-month low of $8.23 and a 12-month high of $11.38.

Blue Foundry Bancorp (NASDAQ:BLFY - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported ($0.10) earnings per share for the quarter, topping analysts' consensus estimates of ($0.11) by $0.01. Blue Foundry Bancorp had a negative net margin of 12.49% and a negative return on equity of 3.45%. The firm had revenue of $12.05 million for the quarter, compared to the consensus estimate of $11.80 million. On average, research analysts anticipate that Blue Foundry Bancorp will post -0.47 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Mirella Lang sold 4,520 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $8.75, for a total transaction of $39,550.00. Following the sale, the director directly owned 44,028 shares of the company's stock, valued at approximately $385,245. This represents a 9.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 5.98% of the company's stock.

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.