T. Rowe Price Investment Management Inc. Has $26.74 Million Stake in 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 holdings in shares of Blue Foundry Bancorp (NASDAQ:BLFY - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,905,977 shares of the company's stock after purchasing an additional 59,081 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 13.15% of Blue Foundry Bancorp worth $26,735,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of BLFY. BNP Paribas Financial Markets bought a new stake in shares of Blue Foundry Bancorp in the 4th quarter worth approximately $27,000. PNC Financial Services Group Inc. lifted 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 worth $65,000 after acquiring an additional 2,557 shares during the period. Quantinno Capital Management LP bought a new stake in shares of Blue Foundry Bancorp in the 4th quarter worth approximately $108,000. Wells Fargo & Company MN lifted 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 acquiring an additional 2,284 shares during the period. Finally, Two Sigma Advisers LP lifted 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 acquiring an additional 1,800 shares during the period. Institutional investors own 56.52% of the company's stock.

Blue Foundry Bancorp Stock Performance

Shares of BLFY stock traded down $0.07 during mid-day trading on Friday, reaching $9.37. The stock had a trading volume of 57,931 shares, compared to its average volume of 51,660. The firm's 50 day simple moving average is $9.16 and its 200 day simple moving average is $9.29. 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 one year low of $8.23 and a one year high of $11.38. The firm has a market cap of $201.35 million, a PE ratio of -17.03 and a beta of 0.60.

Blue Foundry Bancorp (NASDAQ:BLFY - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported ($0.10) 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 the consensus estimate of $11.80 million. Blue Foundry Bancorp had a negative return on equity of 3.45% and a negative net margin of 12.49%. On average, analysts forecast that Blue Foundry Bancorp will post -0.47 EPS for the current year.

Insider Activity at Blue Foundry Bancorp

In related news, Director Mirella Lang sold 4,520 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $8.75, for a total transaction of $39,550.00. Following the completion of the transaction, the director owned 44,028 shares in the company, valued at $385,245. This trade represents a 9.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.34% of the stock is owned by company insiders.

Blue Foundry Bancorp 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.