Blue Foundry Bancorp (NASDAQ:BLFY) Issues Earnings Results

Blue Foundry Bancorp (NASDAQ:BLFY) posted its earnings results on Wednesday. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02), Yahoo Finance reports. Blue Foundry Bancorp had a negative net margin of 11.29% and a negative return on equity of 2.71%. The business had revenue of $21.92 million during the quarter, compared to analysts’ expectations of $10.26 million. During the same quarter in the prior year, the firm earned ($0.06) EPS.

Blue Foundry Bancorp Stock Performance

Shares of NASDAQ BLFY traded down $0.20 during trading hours on Friday, reaching $9.66. The stock had a trading volume of 36,779 shares, compared to its average volume of 52,536. The firm has a market cap of $229.03 million, a price-to-earnings ratio of -24.28 and a beta of 0.54. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.99. Blue Foundry Bancorp has a fifty-two week low of $7.23 and a fifty-two week high of $11.48. The firm has a 50-day moving average of $10.40 and a 200-day moving average of $9.71.

Insider Activity at Blue Foundry Bancorp

In other Blue Foundry Bancorp news, Director Robert Thomas Goldstein sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $10.79, for a total transaction of $37,765.00. Following the completion of the sale, the director now directly owns 39,283 shares of the company’s stock, valued at $423,863.57. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BLFY. Keefe, Bruyette & Woods boosted their price objective on Blue Foundry Bancorp from $8.00 to $9.25 and gave the company a “market perform” rating in a report on Thursday, July 25th. Piper Sandler boosted their price objective on Blue Foundry Bancorp from $9.50 to $12.00 and gave the company a “neutral” rating in a report on Monday, July 29th.

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.