Blue Foundry Bancorp (NASDAQ:BLFY) Announces Earnings Results

Blue Foundry Bancorp (NASDAQ:BLFY) announced 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 company had revenue of $21.92 million for the quarter, compared to analyst estimates of $10.26 million. During the same quarter last year, the company posted ($0.06) EPS.

Blue Foundry Bancorp Stock Down 2.0 %

Shares of NASDAQ BLFY traded down $0.20 during midday trading on Friday, reaching $9.66. 36,779 shares of the company’s stock were exchanged, compared to its average volume of 52,536. Blue Foundry Bancorp has a 52-week low of $7.23 and a 52-week high of $11.48. The stock has a market capitalization of $229.03 million, a PE ratio of -24.28 and a beta of 0.54. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.22 and a current ratio of 1.22. The business’s fifty day moving average price is $10.40 and its two-hundred day moving average price is $9.71.

Insider Buying and Selling

In related news, Director Robert Thomas Goldstein sold 3,500 shares of Blue Foundry Bancorp stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $10.79, for a total value of $37,765.00. Following the completion of the transaction, the director now directly owns 39,283 shares in the company, valued at approximately $423,863.57. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.98% of the company’s stock.

Wall Street Analyst Weigh In

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

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.