Geode Capital Management LLC Sells 29,963 Shares of Blue Foundry Bancorp (NASDAQ:BLFY)

Geode Capital Management LLC cut its holdings in Blue Foundry Bancorp (NASDAQ:BLFY - Free Report) by 6.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 421,623 shares of the company's stock after selling 29,963 shares during the quarter. Geode Capital Management LLC owned 1.85% of Blue Foundry Bancorp worth $4,137,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. State Street Corp grew its position in shares of Blue Foundry Bancorp by 0.7% in the third quarter. State Street Corp now owns 479,365 shares of the company's stock valued at $4,913,000 after purchasing an additional 3,272 shares during the period. R Squared Ltd bought a new position in Blue Foundry Bancorp in the 4th quarter valued at $34,000. Wilmington Savings Fund Society FSB bought a new position in shares of Blue Foundry Bancorp in the 3rd quarter worth $71,000. Proficio Capital Partners LLC bought a new position in shares of Blue Foundry Bancorp in the 4th quarter worth $176,000. Finally, CIBC Private Wealth Group LLC bought a new position in shares of Blue Foundry Bancorp in the 4th quarter worth $170,000. 56.52% of the stock is currently owned by hedge funds and other institutional investors.

Blue Foundry Bancorp Stock Performance

NASDAQ:BLFY traded up $0.36 on Thursday, hitting $9.70. The company's stock had a trading volume of 27,487 shares, compared to its average volume of 51,423. The stock has a fifty day moving average of $9.22 and a two-hundred day moving average of $9.84. The firm has a market capitalization of $214.34 million, a P/E ratio of -17.32 and a beta of 0.64. Blue Foundry Bancorp has a one year low of $8.30 and a one year high of $11.48. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.03.

Blue Foundry Bancorp (NASDAQ:BLFY - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported ($0.13) earnings per share for the quarter, topping analysts' consensus estimates of ($0.16) by $0.03. Blue Foundry Bancorp had a negative return on equity of 3.45% and a negative net margin of 13.65%. The company had revenue of $11.14 million during the quarter, compared to the consensus estimate of $10.29 million. Research analysts predict that Blue Foundry Bancorp will post -0.47 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods reduced their target price on Blue Foundry Bancorp from $11.00 to $10.00 and set a "market perform" rating on the stock in a report on Thursday, January 30th.

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.