Blue Foundry Bancorp (NASDAQ:BLFY) Price Target Increased to $12.00 by Analysts at Piper Sandler

Blue Foundry Bancorp (NASDAQ:BLFY) had its target price hoisted by investment analysts at Piper Sandler from $9.50 to $12.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 5.26% from the company’s current price.

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

Blue Foundry Bancorp Price Performance

Shares of Blue Foundry Bancorp stock opened at $11.40 on Monday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $270.29 million, a price-to-earnings ratio of -28.50 and a beta of 0.54. Blue Foundry Bancorp has a twelve month low of $7.08 and a twelve month high of $11.48. The company has a 50-day simple moving average of $9.38 and a two-hundred day simple moving average of $9.22.

Blue Foundry Bancorp (NASDAQ:BLFY) last released its quarterly earnings results on Wednesday, July 24th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.08. The company had revenue of $21.83 million during the quarter, compared to the consensus estimate of $9.67 million. Blue Foundry Bancorp had a negative net margin of 11.29% and a negative return on equity of 2.69%. During the same period in the previous year, the business earned ($0.08) earnings per share. Analysts forecast that Blue Foundry Bancorp will post -0.69 EPS for the current year.

Institutional Trading of Blue Foundry Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in Blue Foundry Bancorp during the fourth quarter worth $2,000,000. SG Americas Securities LLC lifted its position in shares of Blue Foundry Bancorp by 21.8% in the 4th quarter. SG Americas Securities LLC now owns 13,206 shares of the company’s stock worth $128,000 after purchasing an additional 2,365 shares during the period. Wittenberg Investment Management Inc. boosted its position in Blue Foundry Bancorp by 53.6% during the fourth quarter. Wittenberg Investment Management Inc. now owns 34,404 shares of the company’s stock valued at $333,000 after acquiring an additional 12,000 shares during the last quarter. Park Avenue Securities LLC acquired a new stake in Blue Foundry Bancorp during the first quarter worth approximately $505,000. Finally, Bank of New York Mellon Corp grew its position in shares of Blue Foundry Bancorp by 14.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 74,637 shares of the company’s stock worth $677,000 after buying an additional 9,303 shares during the period. Institutional investors own 56.52% of the company’s stock.

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.