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

Blue Foundry Bancorp (NASDAQ:BLFY) had its price target lowered by investment analysts at Keefe, Bruyette & Woods from $9.00 to $8.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price would indicate a potential downside of 6.65% from the company’s previous close.

Separately, Piper Sandler boosted their price target 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 Trading Down 1.3 %

Shares of NASDAQ:BLFY traded down $0.11 during trading on Thursday, reaching $8.57. The company’s stock had a trading volume of 1,297 shares, compared to its average volume of 53,332. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.12. Blue Foundry Bancorp has a 12 month low of $7.08 and a 12 month high of $10.80. The stock 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 simple moving average is $8.95 and its two-hundred day simple moving average is $8.99.

Blue Foundry Bancorp (NASDAQ:BLFY) last announced its earnings results on Wednesday, January 24th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $20.91 million during the quarter, compared to the consensus estimate of $9.66 million. During the same period last year, the firm earned $0.02 earnings per share. On average, research analysts predict 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 stock in a transaction on Friday, January 26th. The shares were sold at an average price of $10.08, for a total transaction of $25,875.36. Following the completion of the sale, the director now owns 61,610 shares in the company, valued at approximately $621,028.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.21% of the company’s stock.

Hedge Funds Weigh In On Blue Foundry Bancorp

A number of large investors have recently made changes to their positions in BLFY. SG Americas Securities LLC acquired a new stake in shares of Blue Foundry Bancorp in the third quarter worth approximately $91,000. International Assets Investment Management LLC bought a new stake in shares of Blue Foundry Bancorp in the fourth quarter worth $2,000,000. Wittenberg Investment Management Inc. acquired a new stake in shares of Blue Foundry Bancorp during the third quarter worth $188,000. Park Avenue Securities LLC bought a new position in shares of Blue Foundry Bancorp during the first quarter worth about $505,000. Finally, Strs Ohio grew its position in shares of 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. 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.