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

Blue Foundry Bancorp (NASDAQ:BLFY) released its quarterly earnings results on Wednesday. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.08, Zacks reports. The firm had revenue of $21.83 million for the quarter, compared to analysts’ expectations of $9.67 million. Blue Foundry Bancorp had a negative return on equity of 2.69% and a negative net margin of 11.29%. During the same period in the prior year, the firm earned ($0.08) EPS.

Blue Foundry Bancorp Price Performance

Blue Foundry Bancorp stock remained flat at $11.27 during trading on Friday. The company had a trading volume of 33,052 shares, compared to its average volume of 55,014. Blue Foundry Bancorp has a one year low of $7.08 and a one year high of $11.48. The business’s 50 day moving average is $9.35 and its 200-day moving average is $9.22. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.24 and a current ratio of 1.24.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods increased their price target on Blue Foundry Bancorp from $8.00 to $9.25 and gave the company a “market perform” rating in a report on Thursday.

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.