Essex Financial Services Inc. Grows Position in Blue Foundry Bancorp (NASDAQ:BLFY)

Essex Financial Services Inc. increased its holdings in Blue Foundry Bancorp (NASDAQ:BLFY) by 5.4% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 654,231 shares of the company’s stock after buying an additional 33,759 shares during the quarter. Essex Financial Services Inc.’s holdings in Blue Foundry Bancorp were worth $6,418,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. R Squared Ltd bought a new position in shares of Blue Foundry Bancorp during the 4th quarter valued at $34,000. FMR LLC increased its position in Blue Foundry Bancorp by 72.3% during the third quarter. FMR LLC now owns 6,482 shares of the company’s stock valued at $66,000 after acquiring an additional 2,720 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Blue Foundry Bancorp in the third quarter valued at about $71,000. PDT Partners LLC purchased a new position in Blue Foundry Bancorp in the third quarter worth about $129,000. Finally, Kovitz Investment Group Partners LLC purchased a new position in Blue Foundry Bancorp in the third quarter worth about $210,000. Hedge funds and other institutional investors own 56.52% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods lowered their price objective on shares of Blue Foundry Bancorp from $11.00 to $10.00 and set a “market perform” rating on the stock in a research note on Thursday, January 30th.

Blue Foundry Bancorp Stock Performance

Shares of BLFY opened at $9.96 on Tuesday. The business has a 50-day simple moving average of $9.87 and a two-hundred day simple moving average of $10.29. 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 stock has a market cap of $227.09 million, a price-to-earnings ratio of -17.79 and a beta of 0.63.

Blue Foundry Bancorp (NASDAQ:BLFY) last released its earnings results on Wednesday, January 29th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.04. Blue Foundry Bancorp had a negative net margin of 13.65% and a negative return on equity of 3.45%. On average, analysts expect that Blue Foundry Bancorp will post -0.47 EPS 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.