Blue Foundry Bancorp (NASDAQ:BLFY) Price Target Lowered to $8.00 at Keefe, Bruyette & Woods

Blue Foundry Bancorp (NASDAQ:BLFY) had its target price reduced by Keefe, Bruyette & Woods from $9.00 to $8.00 in a report released on Thursday morning, Benzinga reports. They currently have a market perform rating on the stock.

Separately, Piper Sandler boosted their price target on Blue Foundry Bancorp from $10.00 to $11.00 and gave the company a neutral rating in a report on Thursday, January 25th.

Blue Foundry Bancorp Stock Performance

BLFY stock opened at $8.53 on Thursday. Blue Foundry Bancorp has a twelve month low of $7.08 and a twelve month high of $10.80. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.29 and a current ratio of 1.29. The business has a fifty day moving average of $8.93 and a 200-day moving average of $8.99.

Blue Foundry Bancorp (NASDAQ:BLFY) last announced its quarterly earnings data on Wednesday, January 24th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.01. Blue Foundry Bancorp had a negative return on equity of 2.50% and a negative net margin of 10.89%. The business had revenue of $20.91 million during the quarter, compared to analysts’ expectations of $9.66 million. During the same period in the previous year, the firm earned $0.02 earnings per share. As a group, equities research analysts predict that Blue Foundry Bancorp will post -0.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in Blue Foundry Bancorp during the third quarter valued at approximately $91,000. International Assets Investment Management LLC acquired a new position in Blue Foundry Bancorp during the fourth quarter valued at approximately $2,000,000. Wittenberg Investment Management Inc. acquired a new position in Blue Foundry Bancorp during the third quarter valued at approximately $188,000. Park Avenue Securities LLC acquired a new stake in shares of Blue Foundry Bancorp in the first quarter valued at approximately $505,000. Finally, Strs Ohio lifted its position in shares of Blue Foundry Bancorp by 13.6% in the third quarter. Strs Ohio now owns 60,300 shares of the company’s stock valued at $504,000 after buying an additional 7,200 shares during the last quarter. 56.52% of the stock is owned by institutional investors and hedge funds.

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.