Keefe, Bruyette & Woods Cuts Blue Foundry Bancorp (NASDAQ:BLFY) Price Target to $10.00

Blue Foundry Bancorp (NASDAQ:BLFY - Free Report) had its price target trimmed by Keefe, Bruyette & Woods from $11.00 to $10.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has a market perform rating on the stock.

Blue Foundry Bancorp Price Performance

Shares of NASDAQ BLFY traded down $0.06 during mid-day trading on Thursday, reaching $9.69. The company had a trading volume of 26,219 shares, compared to its average volume of 49,011. The company has a 50-day moving average price of $10.03 and a two-hundred day moving average price of $10.33. The stock has a market cap of $220.93 million, a PE ratio of -17.22 and a beta of 0.63. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.03. Blue Foundry Bancorp has a 1-year low of $7.90 and a 1-year high of $11.48.

Blue Foundry Bancorp (NASDAQ:BLFY - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The company reported ($0.13) earnings per share for the quarter, topping analysts' consensus estimates of ($0.17) by $0.04. Blue Foundry Bancorp had a negative return on equity of 3.45% and a negative net margin of 13.65%. On average, equities analysts anticipate that Blue Foundry Bancorp will post -0.47 earnings per share for the current year.

Hedge Funds Weigh In On Blue Foundry Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in BLFY. R Squared Ltd acquired a new stake in shares of Blue Foundry Bancorp in the fourth quarter worth $34,000. FMR LLC boosted its position in Blue Foundry Bancorp by 72.3% during the 3rd quarter. FMR LLC now owns 6,482 shares of the company's stock worth $66,000 after acquiring an additional 2,720 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Blue Foundry Bancorp during the 3rd quarter valued at about $71,000. PDT Partners LLC acquired a new position in shares of Blue Foundry Bancorp in the 3rd quarter valued at about $129,000. Finally, Kovitz Investment Group Partners LLC acquired a new stake in shares of Blue Foundry Bancorp during the third quarter worth approximately $210,000. 56.52% of the stock is currently owned by hedge funds and other 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.