Blue Foundry Bancorp (NASDAQ:BLFY) Sees Significant Decrease in Short Interest

Blue Foundry Bancorp (NASDAQ:BLFY) was the recipient of a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 405,300 shares, a decline of 6.6% from the December 15th total of 434,100 shares. Based on an average trading volume of 53,800 shares, the days-to-cover ratio is currently 7.5 days. Currently, 2.0% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods increased their target price on shares of Blue Foundry Bancorp from $9.75 to $11.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th.

Hedge Funds Weigh In On Blue Foundry Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in Blue Foundry Bancorp by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 856,285 shares of the company’s stock valued at $7,766,000 after purchasing an additional 61,335 shares during the period. State Street Corp grew its position in shares of Blue Foundry Bancorp by 0.7% in the 3rd quarter. State Street Corp now owns 479,365 shares of the company’s stock worth $4,913,000 after buying an additional 3,272 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Blue Foundry Bancorp by 14.2% in 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 last quarter. JPMorgan Chase & Co. increased its stake in shares of Blue Foundry Bancorp by 173.3% during the third quarter. JPMorgan Chase & Co. now owns 70,185 shares of the company’s stock valued at $719,000 after buying an additional 44,505 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of Blue Foundry Bancorp by 6.7% during the second quarter. Renaissance Technologies LLC now owns 47,700 shares of the company’s stock valued at $433,000 after acquiring an additional 3,000 shares in the last quarter. 56.52% of the stock is owned by institutional investors.

Blue Foundry Bancorp Trading Up 0.4 %

Shares of NASDAQ BLFY traded up $0.04 during midday trading on Friday, reaching $9.41. The company had a trading volume of 36,500 shares, compared to its average volume of 49,332. The firm’s fifty day moving average price is $10.32 and its 200-day moving average price is $10.31. 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 one year low of $7.90 and a one year high of $11.48. The stock has a market cap of $214.51 million, a PE ratio of -16.80 and a beta of 0.63.

Blue Foundry Bancorp (NASDAQ:BLFY) last issued its earnings results on Wednesday, October 23rd. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.02). The firm had revenue of $21.92 million during the quarter, compared to the consensus estimate of $10.26 million. Blue Foundry Bancorp had a negative return on equity of 3.50% and a negative net margin of 14.14%. During the same quarter in the prior year, the business posted ($0.06) EPS. On average, equities research analysts anticipate that Blue Foundry Bancorp will post -0.6 earnings per share for the current year.

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.