Short Interest in Blue Foundry Bancorp (NASDAQ:BLFY) Decreases By 7.0%

Blue Foundry Bancorp (NASDAQ:BLFY) was the target of a significant decrease in short interest in August. As of August 15th, there was short interest totalling 453,300 shares, a decrease of 7.0% from the July 31st total of 487,400 shares. Based on an average daily volume of 60,000 shares, the short-interest ratio is currently 7.6 days. Currently, 2.3% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

A number of analysts have commented on BLFY shares. Keefe, Bruyette & Woods lifted their price target on Blue Foundry Bancorp from $8.00 to $9.25 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Piper Sandler lifted their price objective on shares of Blue Foundry Bancorp from $9.50 to $12.00 and gave the company a “neutral” rating in a research note on Monday, July 29th.

Insider Transactions at Blue Foundry Bancorp

In related news, Director Robert Thomas Goldstein sold 3,500 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $10.79, for a total transaction of $37,765.00. Following the transaction, the director now directly owns 39,283 shares of the company’s stock, valued at approximately $423,863.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 5.98% of the company’s stock.

Hedge Funds Weigh In On Blue Foundry Bancorp

A number of large investors have recently bought and sold shares of BLFY. Vanguard Group Inc. lifted its position in shares of Blue Foundry Bancorp by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 1,340,909 shares of the company’s stock valued at $12,551,000 after buying an additional 33,150 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Blue Foundry Bancorp by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 856,285 shares of the company’s stock worth $7,766,000 after purchasing an additional 61,335 shares in the last quarter. Essex Financial Services Inc. raised its position in shares of Blue Foundry Bancorp by 2.8% during the 2nd quarter. Essex Financial Services Inc. now owns 631,662 shares of the company’s stock worth $5,729,000 after purchasing an additional 17,069 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Blue Foundry Bancorp by 14.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 74,637 shares of the company’s stock valued at $677,000 after buying an additional 9,303 shares in the last quarter. Finally, Park Avenue Securities LLC acquired a new stake in Blue Foundry Bancorp in the 1st quarter worth about $505,000. Institutional investors and hedge funds own 56.52% of the company’s stock.

Blue Foundry Bancorp Stock Down 3.2 %

Shares of BLFY opened at $10.72 on Wednesday. The stock’s 50-day moving average price is $10.20 and its 200-day moving average price is $9.40. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $254.16 million, a price-to-earnings ratio of -26.80 and a beta of 0.55. Blue Foundry Bancorp has a 52 week low of $7.08 and a 52 week high of $11.48.

Blue Foundry Bancorp (NASDAQ:BLFY) last posted its earnings results on Wednesday, July 24th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.08. The firm had revenue of $21.83 million during the quarter, compared to analysts’ expectations of $9.67 million. Blue Foundry Bancorp had a negative net margin of 11.29% and a negative return on equity of 2.71%. During the same period in the previous year, the business posted ($0.08) EPS. On average, sell-side analysts predict that Blue Foundry Bancorp will post -0.58 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.