Kovitz Investment Group Partners LLC Makes New $210,000 Investment in Blue Foundry Bancorp (NASDAQ:BLFY)

Kovitz Investment Group Partners LLC purchased a new stake in Blue Foundry Bancorp (NASDAQ:BLFY) in the third quarter, according to its most recent filing with the SEC. The fund purchased 21,497 shares of the company’s stock, valued at approximately $210,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in Blue Foundry Bancorp in the third quarter worth $2,000,000. Dimensional Fund Advisors LP lifted its position in shares of Blue Foundry Bancorp by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 856,285 shares of the company’s stock worth $7,766,000 after buying an additional 61,335 shares during the last quarter. PDT Partners LLC acquired a new position in shares of Blue Foundry Bancorp in the 3rd quarter valued at about $129,000. Renaissance Technologies LLC grew its position in shares of Blue Foundry Bancorp by 6.7% during the 2nd quarter. Renaissance Technologies LLC now owns 47,700 shares of the company’s stock valued at $433,000 after buying an additional 3,000 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Blue Foundry Bancorp by 14.2% during the second quarter. Bank of New York Mellon Corp now owns 74,637 shares of the company’s stock worth $677,000 after acquiring an additional 9,303 shares during the period. 56.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods upped their target price on Blue Foundry Bancorp from $9.75 to $11.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th.

Blue Foundry Bancorp Price Performance

Shares of NASDAQ BLFY opened at $10.60 on Friday. Blue Foundry Bancorp has a 1-year low of $7.90 and a 1-year high of $11.48. The firm has a market capitalization of $241.68 million, a PE ratio of -18.93 and a beta of 0.60. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.23 and a quick ratio of 1.23. The business’s fifty day moving average price is $10.58 and its two-hundred day moving average price is $10.18.

Blue Foundry Bancorp (NASDAQ:BLFY) last released its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). The firm had revenue of $21.92 million during the quarter, compared to analyst estimates of $10.26 million. Blue Foundry Bancorp had a negative return on equity of 3.50% and a negative net margin of 14.14%. During the same period last year, the business earned ($0.06) EPS. On average, research analysts expect that Blue Foundry Bancorp will post -0.6 EPS for the current year.

Blue Foundry Bancorp 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.