Blue Foundry Bancorp (NASDAQ:BLFY) Releases Earnings Results, Beats Expectations By $0.08 EPS

Blue Foundry Bancorp (NASDAQ:BLFY) announced its quarterly earnings results on Wednesday. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.08, Zacks reports. The company had revenue of $21.83 million for the quarter, compared to analysts’ expectations of $9.67 million. Blue Foundry Bancorp had a negative net margin of 10.89% and a negative return on equity of 2.52%. During the same quarter in the previous year, the business posted ($0.08) EPS.

Blue Foundry Bancorp Stock Up 4.4 %

Blue Foundry Bancorp stock traded up $0.47 during mid-day trading on Thursday, reaching $11.27. The stock had a trading volume of 165,598 shares, compared to its average volume of 55,168. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market capitalization of $267.21 million, a price-to-earnings ratio of -28.18 and a beta of 0.54. The company has a 50-day moving average price of $9.35 and a two-hundred day moving average price of $9.22. Blue Foundry Bancorp has a one year low of $7.08 and a one year high of $11.40.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods upped their price target on shares of Blue Foundry Bancorp from $8.00 to $9.25 and gave the stock a “market perform” rating in a research note on Thursday.

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.