Wells Fargo & Company MN Raises Holdings in Blue Foundry Bancorp (NASDAQ:BLFY)

Wells Fargo & Company MN raised its position in Blue Foundry Bancorp (NASDAQ:BLFY) by 22.7% during the fourth quarter, HoldingsChannel reports. The firm owned 12,331 shares of the company’s stock after purchasing an additional 2,284 shares during the period. Wells Fargo & Company MN’s holdings in Blue Foundry Bancorp were worth $121,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BLFY. R Squared Ltd purchased a new position in shares of Blue Foundry Bancorp in the fourth quarter worth about $34,000. CIBC Private Wealth Group LLC acquired a new stake in Blue Foundry Bancorp in the 4th quarter valued at about $170,000. Proficio Capital Partners LLC purchased a new position in Blue Foundry Bancorp in the 4th quarter worth approximately $176,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Blue Foundry Bancorp by 12,513.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 29,389 shares of the company’s stock worth $288,000 after purchasing an additional 29,156 shares during the last quarter. Finally, Barclays PLC grew its position in shares of Blue Foundry Bancorp by 339.3% in the third quarter. Barclays PLC now owns 29,321 shares of the company’s stock valued at $301,000 after purchasing an additional 22,647 shares in the last quarter. Institutional investors and hedge funds own 56.52% of the company’s stock.

Blue Foundry Bancorp Price Performance

Blue Foundry Bancorp stock opened at $9.99 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.03. The company has a 50-day moving average price of $9.25 and a 200 day moving average price of $9.82. Blue Foundry Bancorp has a 12-month low of $8.30 and a 12-month high of $11.48. The stock has a market cap of $220.75 million, a P/E ratio of -17.84 and a beta of 0.63.

Blue Foundry Bancorp (NASDAQ:BLFY) last posted its quarterly earnings results on Wednesday, April 30th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.03. The business had revenue of $11.14 million during the quarter, compared to analysts’ expectations of $10.29 million. Blue Foundry Bancorp had a negative net margin of 13.65% and a negative return on equity of 3.45%. Sell-side analysts anticipate that Blue Foundry Bancorp will post -0.47 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods reduced their price objective on Blue Foundry Bancorp from $11.00 to $10.00 and set a “market perform” rating on the stock in a research report on Thursday, January 30th.

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.