Driehaus Capital Management LLC Sells 112,154 Shares of Blue Foundry Bancorp $BLFY

Key Points

• Driehaus Capital Management LLC reduced its stake in Blue Foundry Bancorp by 6.6%, now holding 1,595,622 shares valued at approximately $14.68 million.
• PNC Financial Services Group Inc. significantly increased its position in Blue Foundry Bancorp by 56.4%, acquiring an additional 2,557 shares during the first quarter.
• Blue Foundry Bancorp reported a net loss of ($0.10) earnings per share, exceeding analyst expectations of ($0.11), with quarterly revenue of $12.05 million.

Driehaus Capital Management LLC lessened its stake in shares of Blue Foundry Bancorp (NASDAQ:BLFY - Free Report) by 6.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,595,622 shares of the company's stock after selling 112,154 shares during the period. Driehaus Capital Management LLC owned approximately 7.22% of Blue Foundry Bancorp worth $14,680,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. BNP Paribas Financial Markets bought a new stake in shares of Blue Foundry Bancorp in the 4th quarter worth $27,000. PNC Financial Services Group Inc. increased its holdings 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 purchasing an additional 2,557 shares in the last quarter. Quantinno Capital Management LP bought a new stake in shares of Blue Foundry Bancorp in the 4th quarter worth $108,000. Wells Fargo & Company MN increased its holdings 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 purchasing an additional 2,284 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its stake 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 last quarter. Institutional investors own 56.52% of the company's stock.

Insider Activity

In other news, Director Mirella Lang sold 4,520 shares of Blue Foundry Bancorp stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $8.75, for a total value of $39,550.00. Following the sale, the director directly owned 44,028 shares of the company's stock, valued at approximately $385,245. The trade was a 9.31% decrease in their ownership of the stock. 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 Stock Performance

Shares of BLFY stock traded up $0.11 on Thursday, reaching $9.36. The stock had a trading volume of 6,299 shares, compared to its average volume of 51,214. The stock has a market cap of $201.24 million, a P/E ratio of -17.02 and a beta of 0.61. Blue Foundry Bancorp has a 1 year low of $8.23 and a 1 year high of $11.38. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.21 and a current ratio of 1.21. The company has a 50 day simple moving average of $9.16 and a 200 day simple moving average of $9.27.

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, beating the consensus estimate of ($0.11) by $0.01. The company had revenue of $12.05 million for 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%. Equities research analysts expect that Blue Foundry Bancorp will post -0.47 EPS for the current year.

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.