Nuveen LLC Invests $3.20 Million in Blue Foundry Bancorp $BLFY

Key Points

• Nuveen LLC has acquired 347,636 shares of Blue Foundry Bancorp, valued at approximately $3.2 million, increasing its ownership to about 1.57% of the company.
• Other institutional investors, like PNC Financial Services Group, have also increased their stakes in Blue Foundry Bancorp, indicating growing institutional interest in the company.
• Blue Foundry Bancorp reported a quarterly earnings per share (EPS) of ($0.10), beating estimates, but still faces challenges with a negative return on equity of 3.45%.

Nuveen LLC acquired a new stake in Blue Foundry Bancorp (NASDAQ:BLFY - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 347,636 shares of the company's stock, valued at approximately $3,198,000. Nuveen LLC owned about 1.57% of Blue Foundry Bancorp as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of BLFY. BNP Paribas Financial Markets bought a new position in Blue Foundry Bancorp in the 4th quarter valued at $27,000. PNC Financial Services Group Inc. increased its stake 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 valued at $65,000 after buying an additional 2,557 shares during the period. Quantinno Capital Management LP acquired a new stake in shares of Blue Foundry Bancorp in the 4th quarter valued at $108,000. Wells Fargo & Company MN increased its stake 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 valued at $121,000 after buying an additional 2,284 shares during the period. Finally, Two Sigma Advisers LP increased 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 valued at $123,000 after buying an additional 1,800 shares during the period. Institutional investors own 56.52% of the company's stock.

Insider Activity at Blue Foundry Bancorp

In other news, Director Mirella Lang sold 4,520 shares of the firm's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $8.75, for a total value of $39,550.00. Following the transaction, the director directly 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 document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.98% of the company's stock.

Blue Foundry Bancorp Trading Down 0.5%

Shares of NASDAQ BLFY traded down $0.05 during midday trading on Wednesday, hitting $9.25. The stock had a trading volume of 27,680 shares, compared to its average volume of 47,641. The company's 50-day simple moving average is $9.16 and its 200 day simple moving average is $9.27. The firm has a market cap of $198.88 million, a P/E ratio of -16.82 and a beta of 0.61. Blue Foundry Bancorp has a fifty-two week low of $8.23 and a fifty-two week high of $11.38. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.21 and a quick ratio of 1.21.

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

About Blue Foundry Bancorp

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.