Essex Financial Services Inc. Sells 30,406 Shares of Blue Foundry Bancorp (NASDAQ:BLFY)

Essex Financial Services Inc. reduced its stake in shares of Blue Foundry Bancorp (NASDAQ:BLFY - Free Report) by 4.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 623,825 shares of the company's stock after selling 30,406 shares during the period. Essex Financial Services Inc. owned about 2.82% of Blue Foundry Bancorp worth $5,739,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of BLFY. BNP Paribas Financial Markets bought a new stake in Blue Foundry Bancorp in the 4th quarter valued at about $27,000. Quantinno Capital Management LP bought a new stake in shares of Blue Foundry Bancorp in the fourth quarter valued at approximately $108,000. Wells Fargo & Company MN lifted its stake in shares of Blue Foundry Bancorp by 22.7% during the 4th quarter. Wells Fargo & Company MN now owns 12,331 shares of the company's stock valued at $121,000 after buying an additional 2,284 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in 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. Finally, First Trust Advisors LP purchased a new position in Blue Foundry Bancorp in the 4th quarter valued at approximately $138,000. Hedge funds and other institutional investors own 56.52% of the company's stock.

Blue Foundry Bancorp Price Performance

NASDAQ BLFY traded up $0.08 during trading hours on Wednesday, hitting $9.81. The company had a trading volume of 33,759 shares, compared to its average volume of 53,321. The firm has a 50 day simple moving average of $9.39 and a 200 day simple moving average of $9.45. The firm has a market capitalization of $213.07 million, a price-to-earnings ratio of -17.52 and a beta of 0.61. Blue Foundry Bancorp has a 52 week low of $8.34 and a 52 week high of $11.48. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.20 and a current ratio of 1.20.

Blue Foundry Bancorp (NASDAQ:BLFY - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.16) by $0.03. Blue Foundry Bancorp had a negative return on equity of 3.50% and a negative net margin of 13.21%. The company had revenue of $11.14 million for the quarter, compared to the consensus estimate of $10.29 million. Equities research analysts expect that Blue Foundry Bancorp will post -0.47 earnings per share for the current year.

Insider Activity

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 shares were 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 $385,245. This trade represents a 9.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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.