Blue Foundry Bancorp (NASDAQ:BLFY) PT Lowered to $8.00

Blue Foundry Bancorp (NASDAQ:BLFY) had its target price cut by stock analysts at Keefe, Bruyette & Woods from $9.00 to $8.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective suggests a potential downside of 8.88% from the company’s current price.

Separately, Piper Sandler upped their price objective 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 Stock Performance

NASDAQ:BLFY opened at $8.78 on Thursday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.29 and a current ratio of 1.29. The company has a fifty day moving average of $8.92 and a two-hundred day moving average of $9.00. The stock has a market capitalization of $210.11 million, a PE ratio of -21.95 and a beta of 0.49. Blue Foundry Bancorp has a fifty-two week low of $7.08 and a fifty-two week high of $10.80.

Blue Foundry Bancorp (NASDAQ:BLFY) last posted its quarterly earnings data on Wednesday, January 24th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.01. The company had revenue of $20.91 million during the quarter, compared to analysts’ expectations of $9.66 million. Blue Foundry Bancorp had a negative net margin of 10.89% and a negative return on equity of 2.50%. During the same period in the prior year, the business posted $0.02 earnings per share. As a group, research analysts forecast that Blue Foundry Bancorp will post -0.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Blue Foundry Bancorp

Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in shares of Blue Foundry Bancorp in the third quarter valued at about $91,000. Wittenberg Investment Management Inc. acquired a new stake in shares of Blue Foundry Bancorp in the third quarter valued at about $188,000. Strs Ohio raised its position in shares of Blue Foundry Bancorp by 13.6% in the third quarter. Strs Ohio now owns 60,300 shares of the company’s stock valued at $504,000 after buying an additional 7,200 shares during the last quarter. Park Avenue Securities LLC acquired a new stake in shares of Blue Foundry Bancorp in the first quarter valued at about $505,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Blue Foundry Bancorp in the fourth quarter valued at about $2,000,000. 56.52% of the stock is currently owned by institutional investors and hedge funds.

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.