Wall Street Zen Upgrades Blue Foundry Bancorp (NASDAQ:BLFY) to “Hold”

Blue Foundry Bancorp (NASDAQ:BLFY) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Sunday.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Blue Foundry Bancorp in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $10.00.

Blue Foundry Bancorp Price Performance

BLFY stock opened at $8.07 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $173.47 million, a price-to-earnings ratio of -17.54 and a beta of 0.59. The stock’s fifty day simple moving average is $8.91 and its 200-day simple moving average is $9.14. Blue Foundry Bancorp has a 52-week low of $7.92 and a 52-week high of $11.38.

Blue Foundry Bancorp (NASDAQ:BLFY) last released its quarterly earnings data on Wednesday, October 29th. The company reported ($0.10) EPS for the quarter, hitting analysts’ consensus estimates of ($0.10). Blue Foundry Bancorp had a negative return on equity of 2.82% and a negative net margin of 9.82%.The company had revenue of $12.61 million for the quarter, compared to the consensus estimate of $12.35 million. Equities research analysts expect that Blue Foundry Bancorp will post -0.47 EPS for the current year.

Institutional Trading of Blue Foundry Bancorp

Large investors have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. increased its position in Blue Foundry Bancorp by 2.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,905,977 shares of the company’s stock worth $26,735,000 after buying an additional 59,081 shares during the period. Essex Financial Services Inc. increased its holdings in shares of Blue Foundry Bancorp by 5.8% during the second quarter. Essex Financial Services Inc. now owns 659,823 shares of the company’s stock worth $6,315,000 after buying an additional 35,998 shares in the last quarter. Geode Capital Management LLC boosted its stake in Blue Foundry Bancorp by 0.4% in the second quarter. Geode Capital Management LLC now owns 431,677 shares of the company’s stock worth $4,132,000 after purchasing an additional 1,780 shares in the last quarter. Nuveen LLC bought a new position in shares of Blue Foundry Bancorp in the first quarter valued at about $3,198,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Blue Foundry Bancorp during the 2nd quarter worth about $1,290,000. 56.52% of the stock is owned by institutional investors.

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.