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

Blue Foundry Bancorp (NASDAQ:BLFYGet Free Report) 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.

Read Our Latest Stock Analysis on BLFY

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:BLFYGet Free Report) 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

(Get Free Report)

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.

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