Keefe, Bruyette & Woods Increases Blue Foundry Bancorp (NASDAQ:BLFY) Price Target to $9.25

Blue Foundry Bancorp (NASDAQ:BLFY) had its target price increased by Keefe, Bruyette & Woods from $8.00 to $9.25 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a market perform rating on the stock.

Blue Foundry Bancorp Trading Up 1.2 %

Shares of BLFY opened at $11.40 on Thursday. Blue Foundry Bancorp has a 1-year low of $7.08 and a 1-year high of $11.48. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.98. The firm’s 50-day moving average price is $9.38 and its 200-day moving average price is $9.22. The firm 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 (NASDAQ:BLFY) last posted its quarterly earnings data on Wednesday, July 24th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.08. Blue Foundry Bancorp had a negative net margin of 11.29% and a negative return on equity of 2.69%. The business had revenue of $21.83 million for the quarter, compared to analyst estimates of $9.67 million. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. Sell-side analysts anticipate that Blue Foundry Bancorp will post -0.69 EPS for the current year.

Institutional Investors Weigh In On Blue Foundry Bancorp

Hedge funds have recently bought and sold shares of the business. EntryPoint Capital LLC bought a new stake in Blue Foundry Bancorp during the first quarter worth about $32,000. SG Americas Securities LLC raised its holdings in Blue Foundry Bancorp by 21.8% in the fourth quarter. SG Americas Securities LLC now owns 13,206 shares of the company’s stock worth $128,000 after buying an additional 2,365 shares during the last quarter. Round Hill Asset Management raised its holdings in Blue Foundry Bancorp by 32.8% in the first quarter. Round Hill Asset Management now owns 21,234 shares of the company’s stock worth $199,000 after buying an additional 5,248 shares during the last quarter. Wittenberg Investment Management Inc. raised its holdings in Blue Foundry Bancorp by 53.6% in the fourth quarter. Wittenberg Investment Management Inc. now owns 34,404 shares of the company’s stock worth $333,000 after buying an additional 12,000 shares during the last quarter. Finally, Park Avenue Securities LLC purchased a new position in Blue Foundry Bancorp in the first quarter worth about $505,000. 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.