Keefe, Bruyette & Woods Lowers Blue Foundry Bancorp (NASDAQ:BLFY) Price Target to $10.00

Blue Foundry Bancorp (NASDAQ:BLFY) had its price target reduced by equities research analysts at Keefe, Bruyette & Woods from $11.00 to $10.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 2.56% from the company’s previous close.

Blue Foundry Bancorp Stock Down 1.3 %

Shares of NASDAQ:BLFY opened at $9.75 on Thursday. The stock has a market cap of $222.26 million, a P/E ratio of -17.41 and a beta of 0.63. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.03. Blue Foundry Bancorp has a 52-week low of $7.90 and a 52-week high of $11.48. The business’s 50 day moving average is $10.03 and its 200 day moving average is $10.34.

Blue Foundry Bancorp (NASDAQ:BLFY) last issued its quarterly earnings data on Wednesday, January 29th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.04. Blue Foundry Bancorp had a negative return on equity of 3.45% and a negative net margin of 13.65%. Sell-side analysts predict that Blue Foundry Bancorp will post -0.56 EPS for the current year.

Hedge Funds Weigh In On Blue Foundry Bancorp

Several hedge funds have recently made changes to their positions in the company. FMR LLC raised its position in Blue Foundry Bancorp by 72.3% during the 3rd quarter. FMR LLC now owns 6,482 shares of the company’s stock worth $66,000 after buying an additional 2,720 shares during the last quarter. Renaissance Technologies LLC grew its position in Blue Foundry Bancorp by 6.7% during the 2nd quarter. Renaissance Technologies LLC now owns 47,700 shares of the company’s stock worth $433,000 after purchasing an additional 3,000 shares during the period. State Street Corp raised its stake in shares of Blue Foundry Bancorp by 0.7% during the 3rd quarter. State Street Corp now owns 479,365 shares of the company’s stock valued at $4,913,000 after buying an additional 3,272 shares during the last quarter. R Squared Ltd acquired a new position in shares of Blue Foundry Bancorp in the 4th quarter valued at about $34,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Blue Foundry Bancorp in the 3rd quarter valued at about $71,000. 56.52% of the stock is owned by institutional investors and hedge funds.

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.