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

Blue Foundry Bancorp (NASDAQ:BLFY) had its price target raised by Keefe, Bruyette & Woods from $8.00 to $9.25 in a research note released on Thursday morning, Benzinga reports. The firm currently has a market perform rating on the stock.

Blue Foundry Bancorp Stock Up 1.2 %

Shares of NASDAQ:BLFY opened at $11.40 on Thursday. The company has a fifty day moving average of $9.38 and a 200-day moving average of $9.22. The company has a market capitalization of $270.29 million, a PE ratio of -28.50 and a beta of 0.54. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.24 and a current ratio of 1.24. Blue Foundry Bancorp has a 52-week low of $7.08 and a 52-week high of $11.48.

Blue Foundry Bancorp (NASDAQ:BLFY) last issued its quarterly earnings data on Wednesday, July 24th. The company reported ($0.11) earnings per share 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 company had revenue of $21.83 million for the quarter, compared to analysts’ expectations of $9.67 million. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. On average, equities analysts predict that Blue Foundry Bancorp will post -0.69 EPS for the current fiscal year.

Institutional Trading of Blue Foundry Bancorp

Several institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp grew its stake in shares of Blue Foundry Bancorp by 14.2% in the second quarter. Bank of New York Mellon Corp now owns 74,637 shares of the company’s stock worth $677,000 after purchasing an additional 9,303 shares during the last quarter. EntryPoint Capital LLC bought a new stake in Blue Foundry Bancorp during the first quarter valued at $32,000. Round Hill Asset Management boosted its position in Blue Foundry Bancorp by 32.8% during the first quarter. Round Hill Asset Management now owns 21,234 shares of the company’s stock valued at $199,000 after acquiring an additional 5,248 shares during the last quarter. Vanguard Group Inc. boosted its position in Blue Foundry Bancorp by 2.5% during the first quarter. Vanguard Group Inc. now owns 1,340,909 shares of the company’s stock valued at $12,551,000 after acquiring an additional 33,150 shares during the last quarter. Finally, Wittenberg Investment Management Inc. boosted its position in Blue Foundry Bancorp by 18.5% during the first quarter. Wittenberg Investment Management Inc. now owns 40,782 shares of the company’s stock valued at $382,000 after acquiring an additional 6,378 shares during the last quarter. 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.