Blue Foundry Bancorp (NASDAQ:BLFY) PT Lowered to $8.00 at Keefe, Bruyette & Woods

Blue Foundry Bancorp (NASDAQ:BLFY) had its target price decreased by analysts at Keefe, Bruyette & Woods from $9.00 to $8.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective points to a potential downside of 6.65% from the stock’s current price.

Separately, Piper Sandler boosted 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 Price Performance

NASDAQ BLFY traded down $0.11 during trading hours on Thursday, hitting $8.57. 1,297 shares of the company’s stock traded hands, compared to its average volume of 53,332. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market capitalization of $205.08 million, a PE ratio of -26.63 and a beta of 0.49. The firm’s 50-day moving average is $8.95 and its 200-day moving average is $8.99. Blue Foundry Bancorp has a 52-week low of $7.08 and a 52-week high of $10.80.

Blue Foundry Bancorp (NASDAQ:BLFY) last posted its earnings results on Wednesday, January 24th. The company reported ($0.13) EPS for the quarter, beating 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 firm had revenue of $20.91 million for the quarter, compared to the consensus estimate of $9.66 million. During the same period last year, the firm posted $0.02 EPS. Equities analysts forecast that Blue Foundry Bancorp will post -0.77 EPS for the current fiscal year.

Insider Activity

In related 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 completion of the transaction, the director now directly owns 61,610 shares in the company, valued at approximately $621,028.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.21% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Essex Financial Services Inc. lifted its holdings in Blue Foundry Bancorp by 0.3% in the 3rd quarter. Essex Financial Services Inc. now owns 596,603 shares of the company’s stock worth $4,994,000 after buying an additional 1,545 shares during the period. SG Americas Securities LLC lifted its position in shares of Blue Foundry Bancorp by 21.8% in the fourth quarter. SG Americas Securities LLC now owns 13,206 shares of the company’s stock valued at $128,000 after acquiring an additional 2,365 shares in the last quarter. Strs Ohio increased its stake in Blue Foundry Bancorp by 13.6% during the third quarter. Strs Ohio now owns 60,300 shares of the company’s stock worth $504,000 after acquiring an additional 7,200 shares during the last quarter. Wittenberg Investment Management Inc. increased its stake in Blue Foundry Bancorp by 53.6% during the fourth quarter. Wittenberg Investment Management Inc. now owns 34,404 shares of the company’s stock worth $333,000 after acquiring an additional 12,000 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Blue Foundry Bancorp during the fourth quarter valued at approximately $2,000,000. Hedge funds and other institutional investors own 56.52% 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.