Blue Foundry Bancorp (NASDAQ:BLFY) Stock Rating Upgraded by Wall Street Zen

Blue Foundry Bancorp (NASDAQ:BLFY) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Blue Foundry Bancorp in a report 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’s stock. According to MarketBeat.com, Blue Foundry Bancorp has an average rating of “Reduce” and an average target price of $10.00.

Blue Foundry Bancorp Trading Down 0.3%

BLFY opened at $11.42 on Tuesday. Blue Foundry Bancorp has a 1-year low of $7.61 and a 1-year high of $11.61. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.96. The company has a market cap of $237.08 million, a P/E ratio of -24.83 and a beta of 0.59. The company has a fifty day moving average price of $8.78 and a two-hundred day moving average price of $9.07.

Blue Foundry Bancorp (NASDAQ:BLFY) last released its quarterly earnings data on Wednesday, October 29th. The company reported ($0.10) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.10). The company had revenue of $12.61 million for the quarter, compared to analysts’ expectations of $12.35 million. Blue Foundry Bancorp had a negative net margin of 9.82% and a negative return on equity of 2.84%. Analysts predict that Blue Foundry Bancorp will post -0.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Blue Foundry Bancorp

A number of hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc raised its holdings in shares of Blue Foundry Bancorp by 181.2% in the third quarter. Versant Capital Management Inc now owns 3,074 shares of the company’s stock valued at $28,000 after purchasing an additional 1,981 shares during the last quarter. BNP Paribas Financial Markets grew its position in Blue Foundry Bancorp by 72.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,066 shares of the company’s stock worth $37,000 after purchasing an additional 1,713 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Blue Foundry Bancorp by 257.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,156 shares of the company’s stock valued at $49,000 after buying an additional 3,715 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Blue Foundry Bancorp by 56.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,088 shares of the company’s stock valued at $65,000 after buying an additional 2,557 shares during the last quarter. Finally, Sei Investments Co. bought a new position in shares of Blue Foundry Bancorp during the 2nd quarter worth approximately $96,000. 56.52% of the stock is owned by hedge funds and other institutional investors.

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.