Blue Foundry Bancorp (NASDAQ:BLFY) Announces Earnings Results

Blue Foundry Bancorp (NASDAQ:BLFY) posted its quarterly earnings results on Wednesday. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02), Yahoo Finance reports. The company had revenue of $21.92 million for the quarter, compared to analysts’ expectations of $10.26 million. Blue Foundry Bancorp had a negative return on equity of 2.71% and a negative net margin of 11.29%. During the same period in the prior year, the business earned ($0.06) EPS.

Blue Foundry Bancorp Stock Down 1.5 %

Shares of NASDAQ:BLFY traded down $0.15 during mid-day trading on Friday, hitting $9.71. 14,663 shares of the company traded hands, compared to its average volume of 52,429. The firm’s 50 day simple moving average is $10.40 and its 200 day simple moving average is $9.71. The firm has a market cap of $230.21 million, a P/E ratio of -24.65 and a beta of 0.54. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.22 and a current ratio of 1.22. Blue Foundry Bancorp has a 52-week low of $7.23 and a 52-week high of $11.48.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Piper Sandler boosted their price target on Blue Foundry Bancorp from $9.50 to $12.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods boosted their target price on Blue Foundry Bancorp from $8.00 to $9.25 and gave the stock a “market perform” rating in a report on Thursday, July 25th.

Insiders Place Their Bets

In other news, Director Robert Thomas Goldstein sold 3,500 shares of Blue Foundry Bancorp stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $10.79, for a total transaction of $37,765.00. Following the sale, the director now owns 39,283 shares in the company, valued at $423,863.57. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.98% of the stock is owned by company insiders.

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.