Essex Financial Services Inc. Increases Holdings in Blue Foundry Bancorp (NASDAQ:BLFY)

Essex Financial Services Inc. lifted its position in shares of Blue Foundry Bancorp (NASDAQ:BLFY - Free Report) by 5.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 654,231 shares of the company's stock after purchasing an additional 33,759 shares during the period. Essex Financial Services Inc. owned about 2.87% of Blue Foundry Bancorp worth $6,418,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in BLFY. R Squared Ltd acquired a new position in Blue Foundry Bancorp in the 4th quarter valued at about $34,000. FMR LLC increased its position in Blue Foundry Bancorp by 72.3% in the 3rd quarter. FMR LLC now owns 6,482 shares of the company's stock valued at $66,000 after acquiring an additional 2,720 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Blue Foundry Bancorp in the 3rd quarter valued at about $71,000. PDT Partners LLC acquired a new position in Blue Foundry Bancorp in the 3rd quarter valued at about $129,000. Finally, Kovitz Investment Group Partners LLC acquired a new position in Blue Foundry Bancorp in the 3rd quarter valued at about $210,000. Institutional investors and hedge funds own 56.52% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods dropped their price target on Blue Foundry Bancorp from $11.00 to $10.00 and set a "market perform" rating on the stock in a research report on Thursday, January 30th.

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Blue Foundry Bancorp Stock Performance

BLFY traded up $0.05 during trading on Friday, reaching $10.01. The company's stock had a trading volume of 34,497 shares, compared to its average volume of 46,890. Blue Foundry Bancorp has a 52-week low of $7.90 and a 52-week high of $11.48. The company's fifty day moving average price is $9.79 and its 200-day moving average price is $10.27. The company has a market capitalization of $228.23 million, a price-to-earnings ratio of -17.87 and a beta of 0.63. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.23 and a current ratio of 1.23.

Blue Foundry Bancorp (NASDAQ:BLFY - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The company reported ($0.13) earnings per share for the quarter, beating 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 forecast that Blue Foundry Bancorp will post -0.47 earnings per share for the current fiscal year.

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.