Blue Foundry Bancorp (NASDAQ:BLFY) Sees Large Decrease in Short Interest

Blue Foundry Bancorp (NASDAQ:BLFY) was the recipient of a large decline in short interest during the month of January. As of January 15th, there was short interest totalling 405,300 shares, a decline of 6.6% from the December 31st total of 434,100 shares. Currently, 2.0% of the company’s stock are short sold. Based on an average daily volume of 53,800 shares, the days-to-cover ratio is currently 7.5 days.

Institutional Investors Weigh In On Blue Foundry Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of BLFY. Dimensional Fund Advisors LP lifted its holdings in shares of Blue Foundry Bancorp by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 856,285 shares of the company’s stock valued at $7,766,000 after buying an additional 61,335 shares during the period. Renaissance Technologies LLC raised its position in Blue Foundry Bancorp by 6.7% during the second quarter. Renaissance Technologies LLC now owns 47,700 shares of the company’s stock valued at $433,000 after purchasing an additional 3,000 shares during the period. Squarepoint Ops LLC purchased a new position in shares of Blue Foundry Bancorp during the 2nd quarter worth about $225,000. International Assets Investment Management LLC bought a new position in shares of Blue Foundry Bancorp in the third quarter worth about $2,000,000. Finally, FMR LLC grew its stake in Blue Foundry Bancorp by 72.3% in the third quarter. FMR LLC now owns 6,482 shares of the company’s stock worth $66,000 after purchasing an additional 2,720 shares in the last quarter. Institutional investors own 56.52% of the company’s stock.

Blue Foundry Bancorp Stock Down 0.1 %

Shares of BLFY stock traded down $0.01 on Monday, reaching $9.74. 44,017 shares of the company were exchanged, compared to its average volume of 49,896. The company has a market cap of $222.07 million, a price-to-earnings ratio of -17.39 and a beta of 0.63. The company has a 50-day moving average of $10.00 and a 200-day moving average of $10.33. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.23 and a quick ratio of 1.23. Blue Foundry Bancorp has a one year low of $7.90 and a one year high of $11.48.

Blue Foundry Bancorp (NASDAQ:BLFY) last announced its earnings results on Wednesday, January 29th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.04. Blue Foundry Bancorp had a negative return on equity of 3.45% and a negative net margin of 13.65%. Analysts anticipate that Blue Foundry Bancorp will post -0.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods lowered 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.

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.