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

Blue Foundry Bancorp (NASDAQ:BLFY) announced its earnings results on Tuesday. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.08), FiscalAI reports. Blue Foundry Bancorp had a negative net margin of 9.82% and a negative return on equity of 2.84%. The company had revenue of $13.28 million during the quarter, compared to analysts’ expectations of $12.85 million.

Blue Foundry Bancorp Price Performance

Shares of NASDAQ BLFY traded up $0.45 during trading hours on Tuesday, reaching $13.24. 717,911 shares of the stock traded hands, compared to its average volume of 236,992. The company has a market capitalization of $274.86 million, a P/E ratio of -28.78 and a beta of 0.55. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.96. Blue Foundry Bancorp has a 52-week low of $7.61 and a 52-week high of $14.74. The company’s 50-day simple moving average is $13.40 and its two-hundred day simple moving average is $11.42.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BLFY. Arrowstreet Capital Limited Partnership bought a new stake in shares of Blue Foundry Bancorp in the second quarter worth about $1,290,000. Tudor Investment Corp ET AL bought a new position in Blue Foundry Bancorp during the 4th quarter valued at approximately $1,209,000. HighTower Advisors LLC raised its position in Blue Foundry Bancorp by 23.5% during the 4th quarter. HighTower Advisors LLC now owns 44,982 shares of the company’s stock valued at $559,000 after purchasing an additional 8,557 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in Blue Foundry Bancorp by 19.5% in the 3rd quarter. Squarepoint Ops LLC now owns 54,074 shares of the company’s stock worth $492,000 after buying an additional 8,830 shares during the period. Finally, Gardner Lewis Asset Management L P bought a new stake in shares of Blue Foundry Bancorp in the 4th quarter worth approximately $319,000. 56.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Blue Foundry Bancorp in a research report on Friday. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Blue Foundry Bancorp Company Profile

Blue Foundry Bancorp, Inc (NASDAQ: BLFY) is a bank holding company headquartered in Paramus, New Jersey, serving the Greater New York metropolitan area. Through its wholly owned subsidiary, Blue Foundry Bank, the company offers a full suite of deposit products, including personal and business checking and savings accounts, certificates of deposit, and a robust online and mobile banking platform.

In addition to deposit accounts, Blue Foundry Bancorp provides a range of lending solutions designed for both individual and commercial clients.