Vanguard Group Inc. Increases Stock Holdings in Blue Foundry Bancorp (NASDAQ:BLFY)

Vanguard Group Inc. boosted its position in Blue Foundry Bancorp (NASDAQ:BLFY) by 2.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,340,909 shares of the company’s stock after purchasing an additional 33,150 shares during the period. Vanguard Group Inc. owned about 5.60% of Blue Foundry Bancorp worth $12,551,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Essex Financial Services Inc. boosted its position in Blue Foundry Bancorp by 3.8% in the first quarter. Essex Financial Services Inc. now owns 614,593 shares of the company’s stock worth $5,753,000 after purchasing an additional 22,499 shares during the last quarter. Park Avenue Securities LLC purchased a new position in Blue Foundry Bancorp in the first quarter worth about $505,000. Wittenberg Investment Management Inc. boosted its position in Blue Foundry Bancorp by 18.5% in the first quarter. Wittenberg Investment Management Inc. now owns 40,782 shares of the company’s stock worth $382,000 after purchasing an additional 6,378 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Blue Foundry Bancorp in the fourth quarter worth about $2,000,000. Finally, SG Americas Securities LLC boosted its position in Blue Foundry Bancorp by 21.8% in the fourth quarter. SG Americas Securities LLC now owns 13,206 shares of the company’s stock worth $128,000 after purchasing an additional 2,365 shares during the last quarter. 56.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on BLFY. Keefe, Bruyette & Woods raised their price objective on Blue Foundry Bancorp from $8.00 to $9.25 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Piper Sandler raised their price objective on Blue Foundry Bancorp from $9.50 to $12.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th.

Blue Foundry Bancorp Stock Up 2.0 %

NASDAQ BLFY opened at $9.92 on Wednesday. The stock’s 50-day moving average price is $9.65 and its 200-day moving average price is $9.27. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.98. Blue Foundry Bancorp has a 52 week low of $7.08 and a 52 week high of $11.48. The company has a market capitalization of $235.19 million, a P/E ratio of -24.80 and a beta of 0.55.

Blue Foundry Bancorp (NASDAQ:BLFY) last posted its quarterly earnings data on Wednesday, July 24th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.08. The firm had revenue of $21.83 million for the quarter, compared to the consensus estimate of $9.67 million. Blue Foundry Bancorp had a negative return on equity of 2.69% and a negative net margin of 11.29%. During the same quarter last year, the company earned ($0.08) earnings per share. On average, equities research analysts predict that Blue Foundry Bancorp will post -0.58 earnings per share for the current year.

Blue Foundry Bancorp 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.