Essex Financial Services Inc. Boosts Position in Blue Foundry Bancorp $BLFY

Key Points

• Essex Financial Services Inc. increased its stake in Blue Foundry Bancorp by 5.8% in the second quarter, owning approximately 3.04% of the company, valued at $6,315,000.
• Blue Foundry Bancorp reported a quarterly earnings per share (EPS) of ($0.10), beating analysts' estimates, with revenue of $12.05 million for the quarter.
• The company's stock is trading at $9.45, with a market capitalization of $203.18 million and a price-to-earnings ratio of -17.18.

Essex Financial Services Inc. boosted its holdings in Blue Foundry Bancorp (NASDAQ:BLFY - Free Report) by 5.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 659,823 shares of the company's stock after buying an additional 35,998 shares during the period. Essex Financial Services Inc. owned approximately 3.04% of Blue Foundry Bancorp worth $6,315,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. raised its holdings in Blue Foundry Bancorp by 2.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,905,977 shares of the company's stock valued at $26,735,000 after buying an additional 59,081 shares during the period. Nuveen LLC purchased a new position in Blue Foundry Bancorp in the first quarter valued at approximately $3,198,000. Strs Ohio purchased a new position in Blue Foundry Bancorp in the first quarter valued at approximately $477,000. Trexquant Investment LP raised its holdings in Blue Foundry Bancorp by 24.0% in the first quarter. Trexquant Investment LP now owns 39,983 shares of the company's stock valued at $368,000 after buying an additional 7,732 shares during the period. Finally, Squarepoint Ops LLC raised its holdings in Blue Foundry Bancorp by 6.2% in the fourth quarter. Squarepoint Ops LLC now owns 38,746 shares of the company's stock valued at $380,000 after buying an additional 2,249 shares during the period. Hedge funds and other institutional investors own 56.52% of the company's stock.

Blue Foundry Bancorp Trading Up 0.3%

NASDAQ BLFY opened at $9.45 on Thursday. Blue Foundry Bancorp has a one year low of $8.23 and a one year high of $11.38. The company's 50 day moving average price is $9.11 and its 200 day moving average price is $9.23. 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 firm has a market capitalization of $203.18 million, a price-to-earnings ratio of -17.18 and a beta of 0.61.

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

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.

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