Blue Foundry Bancorp (NASDAQ:BLFY) Sees Significant Increase in Short Interest

Blue Foundry Bancorp (NASDAQ:BLFY - Get Free Report) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 590,300 shares, a growth of 6.3% from the February 29th total of 555,400 shares. Currently, 2.7% of the shares of the stock are sold short. Based on an average daily volume of 56,500 shares, the days-to-cover ratio is currently 10.4 days.

Analyst Ratings Changes

Separately, Piper Sandler upped their target price on shares of Blue Foundry Bancorp from $10.00 to $11.00 and gave the stock a "neutral" rating in a research report on Thursday, January 25th.

Blue Foundry Bancorp Trading Down 3.4 %

Blue Foundry Bancorp stock traded down $0.32 during mid-day trading on Tuesday, hitting $8.97. The stock had a trading volume of 40,247 shares, compared to its average volume of 55,018. The stock has a market capitalization of $218.33 million, a PE ratio of -28.03 and a beta of 0.49. Blue Foundry Bancorp has a 12 month low of $7.08 and a 12 month high of $10.80. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.12. The stock has a 50-day simple moving average of $9.25 and a two-hundred day simple moving average of $8.97.

Blue Foundry Bancorp (NASDAQ:BLFY - Get Free Report) last posted its quarterly earnings results on Wednesday, January 24th. The company reported ($0.13) earnings per share for the quarter, topping analysts' consensus estimates of ($0.14) by $0.01. Blue Foundry Bancorp had a negative net margin of 9.14% and a negative return on equity of 2.02%. The business had revenue of $20.91 million during the quarter, compared to the consensus estimate of $9.66 million. During the same period in the previous year, the firm posted $0.02 earnings per share. As a group, sell-side analysts forecast that Blue Foundry Bancorp will post -0.77 EPS for the current year.

Insider Buying and Selling

In other news, Director Margaret Letsche sold 2,567 shares of the business's stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $10.08, for a total value of $25,875.36. Following the transaction, the director now directly owns 61,610 shares of the company's stock, valued at approximately $621,028.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.21% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Blue Foundry Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its stake in Blue Foundry Bancorp by 180.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,965 shares of the company's stock worth $25,000 after buying an additional 1,907 shares during the period. Barclays PLC raised its position in shares of Blue Foundry Bancorp by 519.0% during the fourth quarter. Barclays PLC now owns 6,883 shares of the company's stock worth $88,000 after purchasing an additional 5,771 shares during the period. Citigroup Inc. bought a new position in shares of Blue Foundry Bancorp during the 2nd quarter valued at about $74,000. UBS Group AG grew its position in shares of Blue Foundry Bancorp by 321.1% in the 4th quarter. UBS Group AG now owns 7,416 shares of the company's stock valued at $95,000 after purchasing an additional 5,655 shares during the period. Finally, Royal Bank of Canada grew its position in shares of Blue Foundry Bancorp by 37.0% in the 4th quarter. Royal Bank of Canada now owns 8,825 shares of the company's stock valued at $86,000 after purchasing an additional 2,383 shares during the period. Institutional investors own 56.52% of the company's stock.

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. It offers deposits; and loans, such as one-to-four family residential property, multi-family, non-residential real estate, construction, consumer, and commercial and industrial loans, as well as junior liens and home equity lines of credit.